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Metrovacesa Loses €82 Million Following the Impairment of its Asset Portfolio

The property developer's sales soared during the third quarter to 505 homes, however, the fall in the value of its assets weighed down its result to generate losses of 82 million euros.

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The listed property developer Metrovacesa, led by the financial entities Santander and BBVA, has presented a mixed set of results for the first nine months of 2020.

During the period, which was marked by the serious impact of the Covid-19 pandemic, the company managed to increase its revenues by 3% to 112 million euros, thanks to the sale of land and homes.

Read the full article in Spanish.

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