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Merlin’s Profits Fell by 90% in 2020 and its Rent Waivers Will Continue in 2021

The Socimi led by Ismael Clemente generated net income of 441 million euros in 2020, down by 14% YoY, after it waived the rent for its tenants affected by the Covid crisis.

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The Socimi Merlin Properties closed 2020 with a profit of 56.4 million euros and net revenues of 508 million euros.

These figures contrast with those obtained by the real estate company, which rents out its assets in the office, shopping centre and logistics sectors, in 2019 when its profits amounted to 546 million euros and its turnover exceeded 530 million euros.

Read the full article in Spanish.

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