Foreign capital again looks to the Basque Country

7 January, 2016
Invest in the Basque Country.

Foreign capital again has its sights set on the Basque Country. Investment rates comparable to 2007 were achieved last year: if the figure of 1.410 billion euros was reached in 2014, this figure will be exceeded in 2015, according to business journal Estrategia Empresarial.

Two major operations involving foreign capital took place in the last quarter of 2015. American investment fund GreenOak announced the acquisition from Zazpitegi of the logistics platform occupied by Staples in Galdakao, representing the largest operation of the year in the Basque Country, both in square metres and amount, in the logistics and industrial sector. In December, international investors in the Logic Spain KCRE joint venture acquired several premises at the Júndiz industrial estate in Vitoria, for the amount of 11.2 million euros.

British investors have placed the Basque Country as their leading destination for direct investment in the last five years, ahead of Madrid. The Basque Country received 617 million euros in direct investment from the United Kingdom in 2014. The Basque Government’s “Invest in the Basque Country” strategy handled 51 foreign direct investment projects in 2014, linked to the ICT and energy sectors, of which five materialised.

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