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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.

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.

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