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Colonial Resumes Office Contracting, Up 42% to June

The socimi closed the first half of 2021 with a 13% drop in revenues due to divestments, while profits soared to 162 million euros due to asset appreciation.

Edificio oficinas Colonial Recoletos 37

The office socimi Colonial presented its results for the first half of 2021. The period was still marked by the effects of the Covid-19 pandemic on the world economy and its own planning.

Colonial’s corporate plan has led it to make divestments of more than 600 million euros during the crisis. Those have had an impact on its results. Between January and June, Colonial earned 155 million euros in rents from its buildings, 13% less than in the same period last year.

However, on a like-for-like basis, rents grew by 2%, driven by the contracting of more than 59,784 square metres of office space, 42% more than in the same period of 2020. Around 26,000 square metres of new space were contracted, with “significant activity” again in the first half of the year.

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