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Tomás Olivo Earned More than €169 Million Thanks to his Socimi General de Galerías Comerciales

The largest Socimi on the MAB, General de Galerías Comerciales, earned €169 million in 2019, compared to €245 million a year earlier.

The Socimi General de Galerías Comerciales (GGC) closed 2019 with a profit of €169 million, as reported by the company to the MAB, where it has been listed since July 2017. The figure represents a significant decrease, 31% to be precise, from the €245 million it obtained in the previous year. During the first half of 2019, it made a profit of €125 million.

General de Galerías Comerciales is the MAB’s most valuable company, with a market capitalisation of €3,744 million and a real estate portfolio valued at €2,363 million as at 31 December 2019. Key assets include nine shopping complexes, such as La Cañada, valued at more than €680 million.

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