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La Caixa invests €150 million in an urban development project in the Principality of Andorra

Criteria Caixa, the investment holding company for the La Caixa banking foundation, has bought 100% of the share capital in Els Arbres de la Tardor, the Andorran real estate development company that owns over 10 hectares of land in the Encamp parish.

The 150 million euro investment means that Criteria Caixa is now the owner of the urban development project known as “Plan Parcial de la Cabeca”.

The local authorities in Encamp classified the urban development project in Els Arbres de la Tardor as “very important” when it was approved, as it will encourage “economic recovery” in the municipality and will be a “boost” for Andorra as a whole.

F. Expansion.com

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