Stoneweg to develop €50m Grade-A office in Barcelona's 22@ District

Alternative investment firm Stoneweg, in partnership with Nova Providence Capital, is set to develop a €50 mln, 18,500 m2, Grade-A office tower in Barcelona's booming 22@ district.

Office Barcelona - Stoneweg

This project, expected to be completed in 2029, underscores Stoneweg's confidence in high-quality European offices located in well-connected areas with strong demand and limited supply. The seven-floor building on Bolivia Street will offer flexible spaces, numerous amenities, high sustainability standards, and operational efficiency, catering to modern businesses.

The development benefits from pre-approved tertiary-use zoning, confirmed urbanisation works, and a submitted building permit, ensuring a clear project timeline. The 22@ district is a major draw, accounting for about half of Barcelona's office uptake last year and establishing itself as a leading technology and innovation hub in Southern Europe.

The investment is supported by several factors: a severe shortage of prime office space (under 3% vacancy in the CBD), robust demand from tech companies and international businesses in 22@, and ongoing rental growth with prime yields below 5%.

This new venture builds on Stoneweg's previous success in the 22@ district, including the 2016 Luxa development, which attracted major tenants like Amazon and WeWork. While actively developing this office project, Stoneweg has also been involved in other real estate strategies in Barcelona, including debt investments, particularly after recent market re-pricing.

Jaume Sabater, co-founder and CEO of Stoneweg Group, said: “The combination of constrained supply, limited new development and growing demand for high-quality workspace is creating a compelling opportunity for experienced investors to deliver a differentiated product in attractive locations that are benefiting most from these tailwinds. The transaction reinforces the firm’s commitment to Barcelona, a strategic market where it has a long-standing and significant presence across the logistics, residential and hospitality sectors.”