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Gmp Sells Land and Homes for €23.5 Million in Its Resort in Alicante

The socimi sold eight villas and several plots of land in its residential development Las Colinas Golf & Country Club for a total of 23.5 million euros.

residencial las colinas de GMP en alicante 1

The socimi Gmp, controlled by the Montoro family and owned by the Singapore sovereign wealth fund, has sold eight villas and several plots of land in Las Colinas Golf & Country Club last year for 23.5 million euros, with a margin of 12.4 million euros. Sales in the development accounted for 11.5 million in 2019.

The improvement in sales of land and homes in its residential development Las Colinas Golf & Country Club, located in Alicante, has enabled the socimi to weather the pandemic in 2020, according to Ejeprime.

In 2020, Gmp’s turnover reached €97.6 million, 2.8% more than in 2019. However, the company’s operating profit fell to €50.2 million, down from €62.1 million a year earlier.

On the other hand, the socimi’s EBITDA stood at €59.1 million in 2020, down from €65.3 million the year before.

Read the full article in Spanish

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