Sport is one of the big real estate bets for the coming years, both as an investment and as an accelerator of the transformation of cities. It has already taken off in countries such as the USA and the trend in Spain, despite being incipient, “is here to stay”, according to the Harrison Street investment fund.
This was explained by Javier de Castro, Head of Iberia for this U.S. fund specializing in alternative assets, during the 10th Real Estate Forum organized by IE and sponsored by idealista/data. At the event, de Castro was accompanied by consultant Jaime Colás; Beatriz Barco, executive director and head of strategy consultancy at Savills Spain; and Alejandro Campoy, general manager of Savills Spain.
All of them agreed that sport opens up a new opportunity both for real estate investment and for the transformation of cities, which will have private capital at their disposal to increase tourism, leisure and physical activities, as well as to create green spaces.
One of the objectives of ‘sports real estate’ is to use sports facilities for other uses in order to make them profitable, as well as to create an ecosystem in their vicinity.
“Sport is getting closer and closer to real estate. We cannot conceive of a sports asset that does not have a hotel, an office or a shopping center next to it,” said Alejandro Campoy, managing director of Savills Spain.
