The holding company Inveravante, created by the recently deceased Manuel Jove after he sold Fadesa for millions of euros, obtained a consolidated profit of €13 million euros in 2019 compared with losses of €70 million the previous year.
This significant improvement in the firm’s results is due to its real estate development activity, a business that it manages through Avantespacia, in addition to the sale of some of its overseas energy subsidiaries. However, the group, which has a presence in various areas of activity, has already noted that the Covid-19 pandemic will affect its real estate and hotel business in 2020, according to Cinco Días.
