30 October 2017 – Eje Prime
Grupo Inmobiliaria del Sur (Insur) has seen its results soar thanks to the good times that the residential sector in Spain is enjoying at the moment. The company recorded a profit of €3.7 million during the first nine months of the year, according to a statement filed by the group with Spain’s National Securities and Exchange Commission (CNMV).
The group’s turnover also soared during the first nine months of the year. Insur’s revenue amounted to €59.7 million, which represents an increase of 82.2% compared to the same period last year. The acceleration in Insur’s property developer activity and the rise in pre-sales (up by 43.1%) helped this growth.
By category, property development contributed €32.4 million to Insur’s total turnover during the first nine months of the year, compared to €21 million in the same period last year. Revenues from construction, leases and management contributed €18.3 million, €7.5 million and €1.5 million to the group’s turnover, respectively, during the nine months to September.
One of the group’s milestones in recent months has been its entry into the co-working sector, with the launch of the iSspaces business centre in Sevilla, a building with a surface area of 1,800 m2 comprising 30 offices.
Original story: Eje Prime
Translation: Carmel Drake