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31 May 2012
Frankfurt am Main, Germany
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- Property Debt Breakfast
20 June 2012
London
Spain's Colonial, Metrovacesa cancel massive mall project
Listed Spanish property giants Colonial and Metrovacesa have scrapped plans to develop the largest mall in Spain due to market declines and crippling debt. Colonial, which swung to a first-half loss of e2.4bn from a year-ago profit, told Metrovacesa that it is pulling out of the project, although they had already paid 10% of the e238m total for the Madrid land.