DRAGO puts the finishing touch on its 25th anniversary celebration with an award in Metros²
After a very special year for DRAGO, in which we have commemorated our 25 years of history, we close this stage with a recognition that fills us with pride.
Metros² magazine, one of the leading publications in the real estate sector in Spain, dedicates an extensive report in its May edition to the history of DRAGO, reviewing the evolution of the company since its founding and some of the milestones that have marked these first twenty-five years.
The article highlights our real estate investment and management model, the growth achieved over the past quarter-century, and the commitment that has guided our activity from day one.
This recognition marks the perfect end to a year of celebration and, at the same time, the beginning of a new chapter. Starting this month, DRAGO begins its 26th year with the same enthusiasm, independence, and commitment to creating value that have defined our journey.
We would like to thank Metros² magazine for this recognition and, especially, all the people who have been part of our story: clients, investors, collaborators, and the DRAGO team. Your trust has made it possible to get here.
25 years have brought us here. Now we begin the next chapter.
THANK YOU
Metros 2, José María Álvarez · Director of Metros 2, May 2026
Luis Iglesias, founding partner and CEO of DRAGO, has the honor of celebrating the company’s 25th anniversary. DRAGO is an independent platform dedicated to the most significant real estate investment and management in the Iberian Peninsula.
With a highly experienced and top-tier team of professionals, they have spearheaded numerous projects in this sector over the last quarter of a century. A prime example is the innovative development of the former ABC newspaper headquarters on Serrano Street in Madrid, now a shopping center in the heart of the city. Other notable projects include the commercial renovation of the building at Gran Vía 32, home to Primark and the SER radio network, and the Castellana 198 and 200 projects on a major thoroughfare in the capital. They also have a presence in Seville, with their work on the Hotel Querencia.
Internationally, they have also made their mark in Portugal with the complete renovation of the building known as Casa de Santos. And finally, the company also has a presence in the United States. The list is too long and the space too short to fully capture the extensive investment journey undertaken over this period. What is worth highlighting, however, is that year after year they have managed to establish themselves as one of the major players in the national investment landscape.
It currently manages a real estate portfolio exceeding four billion euros. It has twenty-six structured investment vehicles and manages over two million square meters of real estate. These figures have positioned it at the top of the real estate ranking in terms of transformation and value creation in such a competitive sector as the real estate market. Anyone curious enough to visit its corporate website can easily verify these details.
In addition to the impressive operational track record achieved throughout the aforementioned period, it is worth highlighting its management team, one of the most specialized in the country. In this regard, and as they explain, their investment model has always been based on conducting a thorough strategic analysis, institutional co-investment, and very active management.
Thus, throughout their history, they have participated in complex transactions across subsectors of the real estate market, such as offices, residential, retail, hotels, and logistics. In short, they cover virtually every aspect of investment. Among their historical achievements, it’s worth noting that they were the first to launch an institutional fund back in 2006. They also participated in the first sale and leaseback transaction of a major group of branches belonging to Banco Santander. Furthermore, throughout their history, they have worked with internationally renowned investors such as Cerberus, PSP, TPG, and Starwood, among others.
Profitability and sustainability have also been hallmarks of the company, but above all, they emphasize independence and professionalism. These four pillars are crucial to their survival, having enabled them to reach this first quarter-century. And all this despite having had to contend with the Puyol family name at one point in their history, a relationship they severed last year. A clean slate.
It is not necessary in this humble forum to highlight the successes or failures of a company. That is the role of the readers’ good judgment, or, failing that, the judges’. What does deserve praise, however, is that a Spanish real estate company is leading the investment market, a dazzling arena where large international funds, both sovereign and private, and so-called family offices dominate the global landscape.
