Founded in 1979, Gmp is one of the leading unlisted property-owning real estate groups in Spain. From the outset, Gmp has followed a firm property-owning approach. This focused strategy has allowed it to achieve a solid position in the Spanish real estate market as a specialist in the developing, investing and managing high-end offices and business parks in Madrid.
GIC Group, Singapore’s sovereign wealth fund, has a 32.9% shareholding in the Company.
Property-owning developer and investor in premium offices in Spain, which delivers high levels of satisfaction to clients and partners through sustainable business management.
To be the benchmark office property-owning developer and investor in Spain through the ability to attract and retain clients, anticipate market trends, optimise value and provide liquidity.
In the 80s, Gmp’s main property assets as a company consisted of offices in apartment blocks and small wholly owned office blocks.
In 1979, Gmp developed its first office building, Luchana 23. At end of this period, Gmp focused its investment solely on developing office buildings.
In 1989, Gmp set up IN-PLANIA, an internal division specialising in the design and fit-out of professional and office spaces, with the aim of delivering a comprehensive service to its clients.
In the 90s, Gmp’s business model changed substantially in order to focus on quality as a strategic value. In pursuit of this goal, it intensified its development activity, disinvested in offices in apartment blocks and concentrated its investment in wholly owned buildings in prime areas of Madrid.
In 1997, Gmp and GE Real Estate set up a joint venture in order to handle new investments. Rent Inmobilaria was acquired as a result of this agreement, with property assets of over 120,000 m².
In September 2018, the building oxxeo was awarded Platinum LEED Certification in the Core & Shell category.During this stage, Gmp started to develop business parks and turnkey projects for leading companies, while stepping up its office investment business by reaching a strategic alliance with GE Real Estate.
In 2001, it developed its first turnkey business park, Parque Norte, for Telefónica, Sun Microsystems and Astra Zeneca.
A year later, in 2002, it developed the business centre Castellana Norte for the company Airtel, now Vodafone, the first business park in the new extension to the Paseo de la Castellana.
In 2006, it developed the building Hermosilla 3 to house the headquarters of the legal firm Garrigues, the only business campus in Madrid’s prime district.
During this decade, and through the joint venture reached with GE Real Estate, the Company acquired the portfolio of logistical properties and offices owned by the German fund Stodiek, the Cortefiel group headquarters–located in calle Llano Castellano 51-, the Barajas 1building -in calle Trespaderne 29- and the Condesa de Venadito 1 building.
In 2007, Gmp sold the Foresta business park to BBVA, covering more than 100,000 m². In addition, it signed a sale & leaseback agreement with the bank through which Gmp acquired four of its principal buildings in Madrid: Castellana 81, Goya 14, Alcalá 16 and Vía de los Poblados. This transaction enabled Gmp to balance its portfolio in terms of location.
This same year, Gmp refinanced its company debt until 2017 in order to achieve financial stability and robustness.
In 2009, Gmp was the first Spanish property owning real estate company to obtain AENOR certification for its integrated system for Quality, Environmental and Health and Safety in the Workplace Management according to standards UNE- EN-ISO 9001:2008, UNE-EN-ISO 14001:2004 and OHAS 18001:2007. This triple certification demonstrates Gmp’s commitment to ongoing improvement.
In 2010, Gmp decided to complement its core office business with the exclusive residential tourism development, Las Colinas Golf & Country club, located south of Alicante.
In 2011 Gmp developed the turnkey Project for the PSA Peugeot Citroën headquarters.
In May 2014, Gmp sold the Vía de los Poblados building, then in July of that same year, it bought the building at Eloy Gonzalo 10 with a view to performing full renovations on the property. The building was pre-let nearly a year before completion of the renovation work.
In September 2014, the Company became a Real Estate Investment Trust (SOCIMI in Spanish).
In October 2014, Gmp agreed to Euro Cervantes SOCIMI S.A. becoming a minority shareholder, which was indirectly wholly owned by GIC, the Singapore sovereign wealth fund. This long-term strategic alliance seeks to stimulate growth through selective investment in office buildings that generate value and enable Gmp to leverage growth potential in the market and consolidate its position.
In the first quarter of 2015, Gmp acquired the buildings Castellana 77 and Condesa de Venadito 1. It also changed its company name to Gmp Property SOCIMI, S.A. Moreover, in February 2015, Gmp renewed its triple AENOR certification until 2018 for its Integrated System of Quality, Environmental and Health and Safety in the Workplace Management, maintaining its position as the only real estate company in Spain to hold this triple certification.
In June 2015, Gmp’s head offices, located in the building at Luchana 23, were awarded Platinum LEED certification.
In September 2015, it bought the Titán 4 building, located in the street of the same name, in the Méndez Álvaro district.
In October 2015, Gmp acquired GE Real Estate Iberia, S.A.’s shareholding in the company Renta Apartamentos becoming the sole partner of this affiliate, adding the Barajas 1 and Llano Castellano 51 buildings to its portfolio.
In December 2015, Gmp won the 17th MSCI (Morgan Stanley Capital International) European Property Investment Award, in the Specialised Fund category, for its outstanding performance during three years up to December 2014. These annual awards recognise property investment funds and companies across Europe.
In the first quarter of 2016, the buildings at Génova 27, Iberia Mart I and II, Luchana 23, Hermosilla 3 and Eloy Gonzalo 10 were awarded Gold LEED certification.
In July 2016, Gmp signed a new financing agreement with several financial institutions and started listing on the Alternative Stock Market (MaB -Mercado Alternativo Bursatil).
In August 2016, Gmp was named Best Real Estate Developer in Spain in the office/ business category by the prestigious magazine Euromoney, in the 12th Euromoney Real Estate Awards.
In October 2016, the business centre Parque Norte was awarded Gold LEED certification.
In November 2016, Gmp won the category of Specialist Fund in Spain for the second year running at the 18th MSCI (Morgan Stanley Capital International) European Property Investment Awards, for its performance during three years up to December 2015.
In January 2017, Gmp sold the Puerto Somport 8 building.
In March 2017, the building Castellana 81 was awarded Platinum LEED Certification in the Core & Shell category.
In April 2017,Gmp bought the Manuel Cortina 2 building, located in the Chamberí district.
In May 2017, full renovation work was completed on the building Castellana 77, the building at Condesa de Venadito 1 obtained Gold LEED Certification in the Existing Building category and the building at Eloy Gonzalo 10 won the accolade of “Best Renovation” at the ASPRIMA -SIMA 2017 awards.
In June of the same year, Castellana 81 achieved 5-star DIGA Certification (Hallmark of the Level of Accessibility).
In July 2017, MEETING PLACE opened its doors at Castellana 81.
In September 2017, Gmp won the “EPRA Best Practices Silver Award” in recognition of its excellence and transparency in financial communication.
In October 2017, the building Castellana 77 won the award for “Best Office Architecture Spain 2017-2018” at the European Property Awards Architecture.
In November of the same year, Castellana 81 was awarded the 2017 DIGA Prize for accessibility and Castellana 77 obtained 5-star DIGA Certification (Hallmark of Level of Accessibility).
In February 2018, Gmp renewed up to 2021 the AENOR triple certification for an Integrated Management System for Quality, the Environment, Health and Safety in the Workplace, maintaining its differentiated position as the only Spanish real estate group to be awarded this distinction.
In April 2018, the building Castellana 81 won the accolade “Best Renovation 2017” at the AEO awards.
In May 2018, the Castellana 81 building won the prize for the “Best Real Estate Development Non-Residential” in the ASPRIMA-SIMA awards.
In May 2018, the building Castellana 81 was awarded Gold WELL Certification in the Core & Shell category.
In June 2018, oxxeo achieved 5-star DIGA Certification (Hallmark of the Level of Accessibility).
In October of this year, Castellana 81 was awared the Premio COAM 2018 (Madrid Institute of Architects Prize)
In January 2019, Gmp sold the Llano Castellano 51 building.
In February 2019, the Castellana 77 building was awarded a Special Mention in Architecture at the German Design Award 2019.
In February 2019, Gmp has received the 2019 Workplace Award for being the first real estate group in Spain to bet on health and wellbeing of people by earning WELL certification for its buildings.