Tuesday, August 11, 2020
Home REITs Lar Records L...

Lar Records Losses of €28.7 Million in H1 After Recognising Provisions of €46 Million for Property Impairments

The shopping centre Socimi registered losses of 28.7 million euros in H1 2020 despite generating a recurring profit of 28 million euros after decreasing the value of its portfolio by 46 million euros.

The Socimi Lar España, owner of a dozen commercial complexes, has closed the first half of 2020 with significant revisions to the evolution of its business.

The company, which debuted on the stock market in March 2013 backed by international investors such as Pimco, has registered losses of 28.7 million euros in the six months to June, compared to a profit of 28.6 million euros in 2019.

Read the full article in Spanish.

B-Exclusives

Madrid Backs Luxury Housing to Curb the “Suburb Effect” of the Pandemic

Moncloa and Chamberí overtake the neighbourhood of Salamanca as the districts with the most expensive new build homes in the capital, whilst in Moratalaz there are no new build homes on the market.

The Supreme Court Annuls the Requirement to Notify the Treasury about the Transfer of Housing for Tourist Use

The High Court has annulled the article that regulated the obligation to inform the Treasury about the transfer of housing for tourist use by applying a ruling from the European Court of Justice regarding Airbnb.

In Which Municipalities Do Britons in Spain Choose to Live?

More than 250,000 Britons reside in Spain, mainly in towns along the Mediterranean Coast where, in some cases, they outnumber the Spanish population.

A Dozen Property Developers Lead the Construction of Luxury New Homes on the Costa del Sol

High profile property developers, such as Aedas and ASG Homes, are sharing a leading role with local companies in an area where homes can cost more than one million euros.

Latest news

The CNMV Issues Alert Concerning Countries’ Restrictions on Spanish Tourism

The market regulator has issued a warning concerning potential adverse consequences that the new restrictions imposed by some countries on tourists travelling to Spain may cause.

New Logistics Buyers Snap Up More than Half a Billion Euros in Acquisitions Despite the Pandemic

In the months between April and June 2020, amid the pandemic lockdown, buyers completed purchases of logistics assets worth a total of 140 million euros. Buyers include funds such as Blackstone, Segro, Hines, Goodman and Nuveen.