Barcelona's Estel Building Revitalizes Eixample as a Major Business Hub

The former Telefónica headquarters reaches 93% occupancy, boosting the local economy with new retail and offices.

Generic image of a modern glass office building facade with commercial spaces on the ground floor.
IA

Generic image of a modern glass office building facade with commercial spaces on the ground floor.

The iconic Estel building in Barcelona has successfully transformed the Nova Esquerra de l'Eixample district this March 2026, turning a formerly derelict site into a thriving business center.

The 52,000-square-meter property is nearing full capacity after Inmocaixa purchased it for 385 million euros. The AstraZeneca Global Hub is the main tenant, currently employing over 1,600 people across nine floors, with plans to reach 2,000 by the end of the year.
The ground floor has become a neighborhood meeting point with the opening of Casa Carmen, Honest Greens, Veritas, and Santa Glòria. A new Planet Fitness gym is also expected to open soon, occupying 1,700 square meters of the commercial space.

"We thought that with so many offices our bar would be full, but they have everything inside the building."

Anonymous owner · Local restaurant owner
While the building itself is a success, local shops on surrounding streets like Calàbria report a more moderate impact. The final phase of the area's transformation includes a new 8,800-square-meter public square on Avinguda de Roma, costing 4.5 million euros.