The main listed real estate companies, Socimis and property developers have presented the first results of the financial year 2020, a period that will undoubtedly be marked by the Covid-19 pandemic and its effects on the Spanish economy and, therefore, on the real estate market.
Between January and March, the main Socimis (Merlin, Colonial, Lar España and Árima) and property developers (Metrovacesa, Neinor, Aedas, Realia and Inmobiliaria del Sur) registered a combined profit of €89 million, which is 15% lower than during the first quarter of 2019, when two of the largest real estate companies on the Spanish Stock Exchange, Lar and, above all, Merlin recorded significant capital gains that caused their net results to soar.
