The Fiscal Institution acquires a plot of 1,603 m2 with a commercial buildable area of 7,200 m2 and 12,525.26 m2 for parking
The development of the Cádiz Free Zone action on the Sancho Dávila land in Puerto Real is closer to being a reality after yesterday morning the Consortium and the city council signed the reparcelling project of the Execution Unit, for which the Consortium patrimonializes a plot of 1,603 square meters with a maximum commercial-tertiary buildable area of 7,200 square meters. Likewise, Zona Franca acquires 12,525.26 square meters of subsoil that will be used for parking.
The reparcelling project, signed by the State delegate in the Cádiz Free Trade Zone, Jorge Ramos, and the manager of the Public Land and Housing Company of Puerto Real S.A. (EPSUVI), José Olmo, culminates a long process that began in 2007 with the signing of a collaboration protocol between both institutions for the promotion of actions in the municipality.
It is worth remembering that Zona Franca and Puerto Real City Council developed this protocol with the signing of a contract in 2007 for which the Consortium paid 3.5 million euros for building rights for commercial-tertiary spaces and 200 parking spaces that were ultimately not carried out.
As the years went by, the approval of the detailed study of the execution unit by the Puerto Rican City Council, as well as the confirmation that the project was paralyzed, a modification of the 2007 contract was signed on October 28, 2011, which reduced the buildability corresponding to the Free Zone and increased its right over land corresponding to parking spaces.
In this context and on the basis of the aforementioned agreement, the signing carried out this morning puts an end to seven years in which the Consortium, despite having paid 3.5 million euros, without having developed the commercial-tertiary equipment and the car parks, managed to capitalize this land in favor of its inventory of assets.