The Mutuality (formerly known as Mutualidad de la Abogacía) has launched the sale of a portfolio of 11 non-strategic properties in Spain, with an estimated value of around 190 million euros. This move aims to capitalize on the current robust demand in the real estate market. The portfolio includes notable assets, such as the building that housed the first Zara store in Madrid, located on Calle Carretas near Puerta del Sol, which is currently unoccupied.

This decision to sell comes as the Mutuality is looking to streamline its asset management by divesting from properties that do not align with its strategic interests. Given the increasing interest from investors viewing real estate as a safe investment, the organization hopes to maximize profits from the sale of these properties. In recent months, the Mutuality has already offloaded several significant buildings, indicating a trend towards optimizing its real estate portfolio.

As the real estate market continues to exhibit strong performance, the sale of such iconic properties, including the first Zara, may not only attract local investors but also international ones looking to capitalize on the thriving Madrid property scene. This could have broader implications for the local economy and real estate market, as high-profile transactions can boost investor confidence and lead to further development and investment in the area.