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Developing BBVA's vision for its headquarters building into a successful project by Hill International (Spain)

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  • Murphy, Martin

Abstract

Following a number of acquisitions, major Spanish financial institution Banco Bilbao Vizcaya Argentaria (BBVA) was faced with the need to increase efficiency, forge closer collaboration among colleagues and departments, and shift from the traditional way in which the organisation worked. This was accomplished by launching the construction of the bank's new headquarters in Madrid, Spain. The design of the project was undertaken by the Swiss firm Herzog & de Meuron with project management by Hill International. With a budget of around €500m, a build area of 250,000m2 in a 96,000m2 plot, and an occupation capacity of 6,000 employees, the project was developed in two phases — which are briefly described in this paper — during a period of about seven years. This case study highlights, among other elements, that good planning, a good client brief and rigorous procurement are the ingredients for a successful project. A set of observations related to risk control and damage limitation from the point of view of the project manager is also outlined.

Suggested Citation

  • Murphy, Martin, 2015. "Developing BBVA's vision for its headquarters building into a successful project by Hill International (Spain)," Corporate Real Estate Journal, Henry Stewart Publications, vol. 5(1), pages 39-48, November.
    • Handle: RePEc:aza:crej00:y:2015:v:5:i:1:p:39-48
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    More about this item

    Keywords

    project management; innovation; corporate headquarters; planning; risk control; change management;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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