Metrovacesa, created two years ago from the residential division of the former real estate company and the portfolios of its shareholder banks (Santander, BBVA and the now defunct Popular), finished 2019 with losses of €4.5 million, compared with losses of €9.1 million the year before.
The company’s turnover fell by 15% to €170 million, due to a decrease in revenues from its development activity, which fell by 42% to €63 million. In 2019, the company delivered 289 homes and closed 1,511 presales.
