Sareb Bank Real Estate

In late February it was learned that the information was Sareb new Director General and Director of Communications, a position in which he named Manuel Gomez as chief financial officer (and a law degree in Economics and Business Administration from the Universidad Pontificia de Comillas. Anyone who since 2009 has served as chief Financial and Strategy FROB, which in turn participated in the process of establishing the SAREB) and Francisco Gonzalez as Director of Communications (Bachelor of Information Sciences at the San Pablo CEU University of Valencia, who has over 15 years experience in economic and international press).

But as is well known, although its constitution Sareb closed and, as far as economic and financial issues are concerned (with a total volume of assets of 50.781 million euros and capital structure amounting to 4,800 million euros), yet is an entity that is in the process of creation as its workforce is concerned.

Today we learned that the Sareb (Society of assets from bank restructuring) has named Gaspar González-Palenzuela as director of Human Resources.

Law degree from the Universidad San Pablo CEU in Madrid, Palenzuela inter alia in relation to your experience, has an extensive background in team management. Specifically, for over 25 years as director of Human Resources for companies like Johnson’s Wax Spanish, Recoletos, Quiero TV or Ipsos Market Research.

Sareb bank, or the bank know as the bad bank due to its mission to absorb the negative assets from the Spanish banking sector, has as well its own business related to real State sector.

This is the Sareb bank real State, which seeks to sell Spanish properties in order to help the whole economy to recover for its negative situation and to try to continue working as usual. In this sense, Sareb bank real State offers different properties around Spain, with a very competitive price compared to traditional real estate sector.

The main reason for this type of offer is to accomplish the directives of the different European institutions that are helping Spain by giving economical and financial aid. The result is a list of thousand of properties in the country available to be purchased in very good conditions, not only related to the property itself but as also for its prices, three or four time less expensive that the others available in the market.

In this context Sareb has already sold thousand of property which are traduce in billions of euros that will contribute to develop and improve the situation of the national banks.

In the future when historians have to define the economy in 2012, in general, can say it was an “annus horribilis” and not lack reason, it was, and especially for the Spanish housing market, market which of course also includes industrial Sareb.

But today, today, the question that must be answered is what will happen in 2013 with industrial buildings and homes held by the Sareb or bad bank.

Although it appears in the forecast for 2013 is to be the year that put an end to the settings, the sale of industrial buildings, apartments, homes, premises… will not take off while still not overcome the employment picture and the credit does not flow effectively.

These are some of the conclusions reached by some estate producers the last days of 2012 to take stock of the situation in the sector and make it clear a number of forecasts for the new year.

Historians will have a great milestone to highlight of 2012, the establishment of the Asset Management Company for bank restructuring Sareb or called “bad bank”. The goal of this organization was to bind toxic real estate assets of the nationalized banks and banks return to their natural function: the granting of credit lines.