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Realia Earns 95% Less and Reduces the Value of its Rental Assets by €20 Million

The half-year results of the real estate company controlled by Carlos Slim reflected a negative impact of €19.02 million due to the forecast decrease in rents and yields, leading to a sharp drop in profits.

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Realia, the Spanish real estate company controlled by Carlos Slim, generated a profit of 1.5 million euros during the first six months of 2020 compared to 32.08 million euros in the same period a year earlier.

This significant decrease was driven by the company’s decision to increase its provisions and reduce the value of its asset portfolio due to the economic crisis caused by Covid-19.

Read the full article in Spanish.

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