Barcelona to create fund to protect emblematic local businesses

The Barcelona City Council has announced the creation of a fund dedicated to purchasing emblematic and strategic commercial premises. The initiative aims to protect local neighborhood commerce from challenges such as digitalization, rising costs, demographic shifts, and increasing real estate pressure that leads to gentrification.

Mayor Jaume Collboni stated that the fund is intended to launch before the end of the year. To facilitate this, a working group has been established alongside the Generalitat to study and promote the legislative changes necessary for municipalities to exercise the right of first refusal (tanteo y retracto) on commercial properties being sold. This legal mechanism would allow the city to have preference in certain transactions to ensure the continuity of businesses that hold historical or strategic value for their neighborhoods.