The property developer Metrovacesa closed the first quarter of the year with revenues of 141.1 million euros, up by 81% compared to the same quarter in 2021. Its EBITDA multiplied by 1746% to 15.6 million euros and its net profit amounted to 10.7 million euros.
The company, which is majority owned by Banco Santander and BBVA, closed the pre-sale of 568 build-to-sell homes during Q1 2022, 40% more than during the first three months of 2021 and a record figure for the quarter. The company confirmed during the presentation of its results that demand from national buyers in Tier 1 and Tier 2 cities, and from foreigners on the Costa del Sol, is increasing.
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