The real estate sector closed 2021 well. The 40 largest companies achieved a total turnover of 11,600 million EurosAccording to a study by DKB Informa, 27.6% more than in 2020. The improvement in the income statement is largely due to the revival of the sector after the break in the pandemic months, which continued to be effective last year. Only the top 10 companies had sales worth €7.012 million, the top 20 9.598 million and the top 30 10.843 million.
“Overcoming the negative impact of the Covid-19 pandemic, the real estate sector has recovered its uptrend with a strong recovery in investment in the context of high liquidity and low interest rates,” says the author of the report. The good data of last year is explained as follows: an increase in the production of residential and other types of buildings, such as offices, hotels or logistics warehouses.
The Spanish real estate sector consists of 194,000 companies, 95% employ less than three workers. “Only one hundred companies had 50 or more employees. The industry offers a high supply atomization with many small companies in the workforce,” they say from DKB. What are the major Spanish real estate companies with the highest turnover in 2021?
supporters
All listed promoters published their results in the first quarter of this year. Neinor Homes recorded the highest revenue in 2021With a turnover of 916 million euros, Aedas Homes followed with 766 million as the companies themselves reported to the National Securities Market Commission. As stated in a press release sent in March, the third highest sales developer was Vía Célere with 582 million. Metrovacesa, which is owned by Banco Santander and BBVA and closed at 510 million, rounds out the ranking of major backers.
American fund company Oaktree, Culmia hit 295 million last year. In the Bain Capital case, Habitat Inmobiliaria reported a turnover of 221 million euros. Basque company Amenabar generated sales worth 275 million, according to accounts audited by PwC and collected by InfoCif. From the smallest, French Premier Spain added 117 million in revenue, and Fadesa’s late founder Manuel Jove, Avantespacia’s company, reported 108 million, according to the accounts aggregated on the aforementioned platform.
patrimonial
Pontegadea, Amancio Ortega’s investment vehicle, closed last year with a revenue of 1,970 million Euros through all its companies. This includes dividends received from Inditex and leases of its assets nationally and internationally. It is positioned as follows with this figure: Spanish real estate with more income.
Among the listed companies, the two Ibex-35 Socimis generated the most revenue: Merlin Properties, 505 million total and Colonial, 314 million. Realia and Insur round out this ranking with 180 and 125 million euros, respectively. Also listed is malls specialist General de Galerías Comerciales, which entered 150 million versus 79 million for rival Lar España. The Spanish subsidiary of French Unibail-Rodamco-Westfield also billed €121 million in such assets.
The smaller, unlisted Carrefour Property, manager of real estate assets of the French food group, last year 219 million rental income. Inmo Criteria Caixa, a subsidiary of Fundación La Caixa, received €116 million for the lease and sale of assets, as confirmed by the latest results presented by CriteriaCaixa.
Services and banks
The ‘servants’, created after the bubble burst to sell the bank’s toxic assets, are another type of high-income company. In this typology, CaixaBank is positioned as one of the key playersthrough its subsidiaries, some allied with the North American fund Lone Star Coral Homes had a turnover of 877 million euros, Servihabitat closed 2021 with sales worth 239 million and Buildingcenter entered 284 million.
According to InfoCif, Divarian, Cerberus real estate, was one of the companies with the highest revenue, with a total of 435 million. Altamira Asset Management, the doValue company traded on the European stock exchange, entered 200 million; Haya Real Estate, the manager of the toxic assets of the American fund owned by Divarian, recorded sales of 198 million euros; as approved by the ‘servant’ himself. The last of its kind is the company Promotoria Coliseum Real Estate, owned and managed by Cerberus and Banco Sabadell. Solvia with a turnover of 345 million.
public enterprises
The State Security Prison Infrastructure and Equipment Corporation (SIEPSE), a publicly traded company, is among the largest and has some 335 million euro revenueAccording to Infocif. This government-controlled company is responsible for the sale of assets donated to the State and Prison Centers when not affected for criminal purposes.
It is not the only institution belonging to the Public Administration in the ranking. Valladolid Alta Velocidad, a public limited company owned by Adif, Renfe, Junta de Castilla y León and Valladolid City Council, was established in 2003 to carry out the work from the transformation of the Valladolid Arterial Railway Network. According to InfoCif, 218 million billed total last year.