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This arm’s primary mission is to dispose of the assets with the least possible impact on accounts, and also handle technical maintenance, aimed at preserving the assets in optimal conditions, and sales-related activities (advertising, presence at events, relations with property agents, customer service, etc.).

In May 2016, the Property Management Directorate was created, which brings many functions, thereby brining greater efficiency and increasing the visibility of the portfolio as a whole, not only in terms of the physical properties but also in terms of their availability, limitations and encumbrances. The new directorate coordinates sales through all channels, therefore also through Bankia’s commercial network, and prepares packages of assets for placement outside the retail circuit.

Thanks to the sales efforts, this activity contributed 535 million euros to the bank during 2016, with sales of 9,350 units, compared to 9,190 the previous year.

The goals for 2017 are to maximise sales, increase transparency in the marketing of properties, prevent agent exclusivity and uphold the bank’s commitment to the local environment by allocating homes for social rent.

Bankia - Real estate assets

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