Socimi Merlin Properties is planning to renovate the buildings it inherited from Testa, the former real estate subsidiary of Sacyr. Over the next five years, the company intends to bring the projects up to environmental and energy standards. Costs are estimated at €100m. The Madrid properties include Complejo Princesa on Plaza de los Cubos, Costa Brava in the Mirasierra neighborhood, and a property next to Torrespaña on Calle Juan Esplandiú. Socimi Merlin Properties is also planning to renovate its headquarters and start of construction on shopping centres in Palma de Mallorca and Málaga.
