Given the criticism that these operations have generated, the town halls of Bilbao and San Sebastián ensure that this management model has been agreed from the start and that sales between private parties are in accordance with the law.
The San Sebastian bus station and the meIntermodal Bilbao they remain in the hands of Azora Group, so far best known for its activities in the real estate market. After taking over the management of the bus station in the capital San Sebastian last July with a 51% stake, it was revealed this week that Azora has also bought the concession to operate Bilbao Intermodal from the Amenabar Group until the year 2057.
Both stations were taken over by the Bilbao-based company Infrabask II and created by Azora “to address investments in sustainable infrastructure”. The strategy with both assets “aims to reduce traffic congestion in city centers, promote intermodality and facilitate the charging of electric cars,” the group said.
“At Azora, we have a successful track record of detecting mega-trends for real estate investment, particularly in the residential and hotel sectors, and this acquisition also demonstrates our ability to seize investment opportunities in key assets with high development potential to quality of life and the sustainability of our cities,” said Concha Osácar, founder of Azora.
Bilbao City Council awarded Amenabar the operation of the intermodal station, which was inaugurated in 2019, for a period of 40 years. Now the Basque developer will continue to manage only the shopping center integrated into the intermodal building.
In statements to the media today, and given the criticism these operations have generated, Bilbao Mayor Juan María Aburto has assured that “there is no concern” in the city council about this operation. “This is a fund that already manages other types of infrastructure of this nature,” he said.
Along the same lines, sources from the San Sebatián City Council have defended the sale, stressing that it was agreed from the outset that management of the station would be carried out by the private sector.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
