Realia joins the build-to-rent sector with its first rental promotion

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The real estate controlled by Carlos Slim plans to market 85 homes in the municipality of Tres Cantos (Madrid) “during the first quarter of 2020”

Realia, controlled by Carlos Slim, has announced that during the first quarter of 2020 it will put on the market its first promotion dedicated to rent, a set of 85 homes that it is building in Tres Cantos (Madrid). The homes will be public protection.

The company announced its entry into the rental market at its last shareholders meeting, where it explained that the new division will draw on both its own assets and the purchase of promotions from other developers.

In this sense, the objective is to become a “medium-sized” operator in the Spanish rental market. In the first nine months of the year, the company reported a net profit of 38.6 million euros, 61.2% more than in 2018. In addition, it also increased its revenues, to 71.1 million euros.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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