The Spaniard is 12-under overall, one ahead of England's James Morrison (66) and two in front of Denmark's Lasse Jensen (69) and Northern Ireland's Michael Hoey (65).
The highlight of Cabrera-Bello's round, which began at the 10th, came at the 18th where he found water with his approach before chipping in for a birdie.
"Everyone can score very low around here so you need a little bit of luck and I got my fair bit of luck," the twice European Tour winner told reporters.
Hoey's 65 matched overnight joint leader Cabrera-Bello's first-round score.
"I knew the greens would be better today and I putted well,” said Hoey, a five-times tour winner. "There was an opportunity today to shoot seven under and I did that."
World number seven Henrik Stenson was on six under after carding a 71 but Germany's Martin Kaymer (71) missed the cut on one under.
(Reporting by Karolos Grohmann, editing by Tony Jimenez)
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