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The Owners of Pryconsa Earn 70% Less From Their Socimi Following Coronavirus

The Socimi Saint Croix, controlled by the Colomer family, earned 2.61 million euros during the first half of 2020, compared to 6.63 million a year earlier.

Gran vía 34 propiedad de Saint Croix 1

Saint Croix Holding Inmobilier, the Colomer family’s equity investment vehicle, closed the first half of 2020 with a significant reduction in its turnover. The fall was mainly motivated by the Covid-19 crisis, according to a statement filed by the company yesterday with the National Securities Market Commission (CNMV).

“At the end of the first quarter of 2020, the company’s results were already partially affected by the pandemic. Naturally, the trend continued into the second quarter of the year, with a much greater negative impact than during the first quarter as a result of the economic inactivity caused by the State of Emergency during this period”, says Marcos Colomer, President of the Socimi Saint Croix, as well as of the residential property developer Pryconsa.

Read the full article in Spanish.

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