The real estate company had losses of 24 million Euros due to the impact of Asentia, the non strategic assets subsidiary, that the company wishes to get rid of.
The developing company handed in during the first quarter of the year 15% more units that during the same period in 2012 and sold 77 units off plan, but all of them in the international area.
The real estate company, controlled since yesterday in 99,8% by the banks Santander, Bankia, BBVA, Popular and Sabadell after its exit from the stock market, obtained gains in its residential area of 1,5 million Euros, with a negative margin of 1,9 million Euros for the sale of 11 properties.
The real estate company, whose parent company (Rayet) is in creditor´s meeting, assures that the first months of the year have shown a “descent in the volume of activity within the real estate sector”.
The company, controlled by Bankia and FCC, and where Sareb could enter through a debt capitalization, assures that the gains in the residential activity “are still affected by the credit restrictions”.
The real estate company presided over by Rafael Santamaría, that requested a creditor´s meeting in February, is one of the most affected ones, as its main business is the development. In its results for the first quarter, it confesses a “stagnation” of the commercial sales due to “the lethargy within the real estate sector”.