24 January 2018 – Eje Prime
Gesvalt has started 2018 by closing a corporate operation. Today, the leading player the market for consulting and asset valuations in the real estate, financial and industrial sectors, announced the purchase of the appraisal company ‘Grupo Inmoseguros Servicios Inmobiliarios’ from Dunas Capital.
Following this operation, Gesvalt hopes to double its turnover in the asset valuation market for the insurance sector, securing a market share of 10%. That would position the company as the leader in the sector for that industry.
This acquisition forms part of Gesvalt’s growth strategy, through which it is seeking to consolidate its place in growing sectors, such as insurance. According to various estimates, the insurance companies in Spain currently own real estate assets worth approximately €10 billion (according to data from the General Directorate of Insurance), which need to be valued every year. Inmoseguros Tasación valued assets worth more than €1 billion in 2017.
Gesvalt closed 2017 with turnover of €20.5 million, which represents an increase of around 30% with respect to 2016. Last year, and as a result of the evolution of its business, the company took a step forward in its internationalisation plans, establishing its own structure in Lisbon to serve the Portuguese market. The group has national coverage in Spain with fifteen offices, as well as an international presence in fourteen countries and 40 cities.
Original story: Eje Prime
Translation: Carmel Drake