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The 10 Largest Real Estate Firms – Who Were the Winners and Losers in 2020?

The large property developers and listed Socimis registered joint losses of more than 200 million euros in 2020, compared to gains of 1.633 billion euros in 2019, mainly due to a fall in the value of their real estate assets.

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Unprecedented figures during a historic year. That is the summary of the results of the ten largest real estate companies listed on the Spanish Stock Exchange in 2020.

In just twelve months, the main companies in the sector, which operate development and rental activities (the Socimis), went from registering combined profits of more than 1.6 billion euros to accumulating total losses of more than 200 million euros. The reason for the important change was none other than the impact of Covid on the real estate sector.  Although real estate was not the most affected sector, the service and tourism sectors bore that unwelcome honour, the unfolding economic crisis nevertheless left its mark on the results of real estate companies.

Read the full article in Spanish.

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