Llanera Properties To Be Completed

The first major casualty of the slowdown in property sales in Spain has been Llanera, an important developer. Among the projects it was working on that have been affected by the firm's collapse are 124 subsidised properties (for Spaniards on low incomes) in Alfara del Patriarca in Valencia, 75% of which have already been sold. Banco de Valencia has confirmed that it had granted Llanera 12 million Euros of funding and would maintain its financial support of the development. Another Spanish bank, Caja del Mediterráneo (CAM), has arranged to continue financing another Llanera project, again in Valencia.