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May 9, 2014

New luxury hotel on the Paseo de Gracia in Barcelona

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The Catalan investment company “Emin Capital” intends to invest 150 million euros in the construction of a new luxury hotel on the Paseo de Gracia in Barcelona. The new luxury hotel will be in the former building , which occupied the office of Deutsche Bank in Barcelona. However, the new owners of the building will have to wait until 2017, when they will be able to start construction work on of a new ambitious project .

Investment group “Emin Capital”, which directs Jordi Badia, is now occupied by a new ambitious project , which will cost the company 150 million euros , namely the construction of a luxury five-star hotel chain Four Seasons in the heart of Barcelona . 90 million euros will be worth the purchase of the building for the grand project , the former Deutsche Bank tower on the Paseo de Gracia, and from 60 to 70 million euros, according to experts, will be cost the creating a new luxury hotel with 150 rooms and also the restoration of the facade of the antique building.

According to the Spanish newspaper “La Vanguardia”, a preliminary contract to sell the building was signed this week , after the company's offer “Emin Capital” was the highest of the ten who claimed to purchase the real estate.

However, the buyers of Tower Deutsche Bank, most likely, will have to wait until 2017 to begin with work on a new project , as this year will expire the rent contract of the tenannts of the building , such as a law firm Cuatrecasas.

The former Deutsche Bank tower is located at the intersection of two main streets of Barcelona – Diagonal and Paseo de Gracia, which in recent years have become the main commercial centers of luxury and exclusive shops of the Catalan capital.

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