VBare’s Profits Rose by 52% in Q1 2019 to €1.1M

15 May 2019 – Eje Prime

VBare Iberian Properties, the Socimi specialising in the management of residential assets, obtained a profit of €1.1 million during the first quarter of 2019, which represents an increase of 52% YoY. Gross revenues from asset rentals rose by 50% YoY during the same period to €461,000.

According to a statement issued by the company, VBare’s asset portfolio comprised more than 300 assets and was worth €57.4 million at the end of March 2019, up by 15% with respect to the end of 2018. The Socimi recorded profits of €4.8 million in 2018, doubling the result from the previous year.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

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