PRIMEWORK has closed the purchase with the Government of the United Arab Emirates of a building that previously housed the headquarters of the Embassy of the Emirates in Spain.

The transaction represents an important step in PRIMEWORK's strategy to consolidate its position in the prime asset segment of the Madrid office market.

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Asset characteristics

The property stands out for its institutional nature and its location in one of the areas with the highest demand and projection of the Madrid office market. Its main attributes include:

• High potential as a prime office building.
• Ability to attract top-tier companies.
• High-quality representative spaces.
• Strategic location in prime area.

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Business strategy

This acquisition reinforces PRIMEWORK's strategy, focused on the incorporation of unique assets with an equity vocation, coming from institutional owners, both national and international. The company's fundamental pillars continue to be the acquisition of buildings with high potential for revaluation and the provision of workspaces that combine the highest quality with a premium location.

With this transaction, PRIMEWORK consolidates its position in the boutique office market and reaffirms its commitment to sustained growth in the sector.

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PRIMEWORK rents its unique office in Zurbano, 80 to the Madrid School of Decoration, a reference in interior design training at an international level, and reaches 100% occupancy of its property portfolio.

Madrid, April 22, 2025 — PRIMEWORK has closed a long-term rental agreement with the renowned Madrid School of Decoration (Esmadeco), which will occupy its exclusive office located at Zurban, 80, a representative property within his portfolio in the heart of the Almagro neighborhood in Madrid.

With this agreement, PRIMEWORK welcomes an educational institution that has established itself as a European reference in specialized training in design and interior design, both nationally and internationally. In fact, Esmadeco has just signed a strategic alliance with the multinational group HEARST, a leader in premium publications, among others such as New Style, Elle Decor or Harper's Bazaar, to launch a unique training program in Spain.

For PRIMEWORK, this transaction represents not only another addition of a first-class entity to its client portfolio, but also a confirmation of the attractiveness and strength of its real estate proposal. With this addition, PRIMEWORK achieves an occupancy of 100% in your current portfolio, consolidating its position as one of the key players in the premium office segment in Madrid.

The Zurbano building, 80, stands out for its unique architecture, flexible spaces and a privileged location in the Almagro - Chamberí district, making it an ideal enclave for projects with their own identity and global ambition.

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The Prado Museum Foundation has signed a lease for the property owned by PRIMEWORK in the Street Academia 4, located in the emblematic Jeronimos area. This strategic location is notable for its proximity to the Prado Museum and El Retiro Park, as well as its unparalleled views of cultural and prestigious institutions such as the Royal Spanish Academy and the Church of San Jerónimo el Real.

The Foundation's new office, situated in the UNESCO-protected Landscape of Light, features spacious areas and high ceilings, along with ample natural light. This environment is ideal not only for the Foundation's daily management but also provides an exceptional setting for Board meetings and special events.

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PRIMEWORK acquires ownership of Serrano 41-43-45 from BLACKSTONE and VEIL CAPITAL funds

PRIMEWORK has formalized the acquisition of the property located in Serrano 41-43-45, previously owned by investment funds BLACKSTONE and VEIL CAPITAL. This impressive property, which covers the entire attic of the building, is located in one of the most exclusive and prestigious areas in Spain.

The property is distinguished by its large size, offering a single floor that includes numerous parking spaces, as well as a 24-hour security and maintenance system.

A unique feature of this property is its perimeter terrace, which provides 360º panoramic views over the entire city, creating an incomparable work environment. In addition, all rooms in the office are bathed in natural light, which not only improves aesthetics but also the productivity and well-being of those who work there.

Accessibility is another strong point of this property, as it has two elevators with direct access to the interior of the office by key, ensuring privacy and comfort for the occupants.

This acquisition reaffirms Primework's commitment to investing in high-end properties, providing exceptional spaces that meet the highest standards of quality and comfort in strategic locations.

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In a commitment to innovation and comprehensive well-being, PRIMEWORK sign a new rental contract at the premises of Velázquez, 157.

The new tenant promises to revolutionize the concept of comprehensive health in Madrid, marking a milestone in the Spanish capital. With a focus on nutrition, wellness and beauty, this center will not only offer a wide range of specialized treatments carried out by doctors who are experts in each subject, but it will also include a spa area to complement the wellness experience of its patients. This comprehensive approach, focused on advanced and personalized techniques for each patient, seeks to establish a new standard in health care and well-being in Madrid.

The choice of Madrid is no accident, as the city has positioned itself as one of the most dynamic and fastest growing capitals in the luxury sector worldwide. The proximity of the premises to highly reputable clinics and the trust placed in the strength of PRIMEWORK, highlight the commitment of this new entity to excellence and the cutting edge in health services. This project will not only enrich Madrid's healthcare landscape, but it also reaffirms the city's attractiveness as an epicenter of innovation and luxury in comprehensive wellness care.

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PRIMEWORK incorporates a new property in the select neighborhood of El Viso. This impressive building, completely freestanding and located on a large plot, stands out as one of the most impressive in the distinguished area of El Viso. With an area of 850m2, it is among the largest properties in the colony and is surrounded by other prestigious buildings. The acquisition, made by PRIMEWORK unto CaixaBank will result in an upcoming comprehensive renovation of the building to match its quality with the high standards found in the rest of the business portfolio.