The reserve price is 7.3 per cent lower than the one in its 2023 bid to be sold en bloc at $600 million.

CISCO and Axia Ventures Group acted as Advisors.

The buyer is Mutualidad de la Abogacía, a non-profit insurance company for lawyers and engineers in Spain.

GEK TERNA had bid in September 2023 with an 3.27 billion euros offer.

The both parts in the MoU have expertise and skills in the field of intelligent building readiness.

The price is four times the accounting cost that is €27 million or €531 per sq.m.

The first three projects, which have a Gross Development Value of over £430 million.