CC's new Spain-maker
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Spain’s once-booming construction industry has not, it’s fair to say, enjoyed the best of recessions.
The dormant building sites stretching from Puerto Banus to San Sebastian testify to the effect of the downturn on the Spanish economy.
So kudos to Clifford Chance, which today says bienvenido to its new global head of real estate Alfonso Benavides, currently head honcho for the domestic Spanish property practice (see story).
The appointment represents something of a coup for the Madrid office, with Benavides becoming the first global practice head to come out of CC’s Spanish offices.
It might seem strange, after years of growth, that now is the time for the magic circle firm to finally get round to giving Spanish real estate its due. Then again, with the market virtually disappearing overnight, maybe CC’s management is just looking for ways to keep its partners busy.
