Next, we share the results of Renta Corporación in the first quarter of 2022 Shows no doubt of the ability of the real estate sector to adapt in a context of international uncertainty.
The confinement measures and mobility restrictions due to the Covid-19 health crisis have caused a change in consumption trends and in the type of product demanded. As a result of the pandemic, both the search for larger homes located around metropolitan municipalities and, for example, online commerce have increased.
Experts assure that the real estate sector will maintain the dynamism of 2021, growing at a stable rate. Among the main reasons for this recovery are the increase in family savings and the gradual return of foreign buyers interested in investing in Spain.
The current situation of the real estate sector in Spain
The real estate sector in Spain closed the year 2021 with the best property sales figure in the last 14 years. In addition, the growing demand forecasts a promising future for the office, industrial, logistics and retail segment.
The logistics real estate sector will continue to grow until reaching 2,000 million euros of investment for its development. This growth is due, in part, to changes in the way citizens consume and theneed for storage spaces close to cities.
The type of property demanded also undergoes changes. Modern and functional logistics assets predominate, diaphanous and with large spaces but, above all, that prioritize the sustainability and well-being of people.
This period of uncertainty has served Renta Corporación to strengthen our differential business model, based on the creation of value in all our operations with the aim of satisfying the needs of our customers.
The ability to adapt has allowed us to diversify our activity towards other business segments that are currently in full development in our country, as is the case of the logistics real estate market.
These have been the results of Renta Corporación in the first quarter of 2022
The quarterly result of the company reflects that the true engine of Renta Corporación is the human team behind it. Great professionals who put all their effort and knowledge into offering our clients innovative solutions tailored to their needs.
The figures for this first quarter are 69% higher than those for the same period last year, with a total profit of 2.7 million euros. We continue to maintain a portfolio of 66.1 million euros at the end of the quarter, a figure somewhat higher than that of December 2021.
If we talk about key figures in company management, we continue to maintain a solid liquidity position, closing the quarter with debt to assets of 27%. In addition, the net financial debt has been significantly reduced by 16%.
During the month of April, a complementary dividend of 2.2 million euroswas distributed, which added to the 1.2 million euros paid on account on November 15, reach a total figure of 3.4 million euros.
In 2022, we aim to develop the main lines of business in which we operate, and promote new initiatives in the urban storage sector and in the sustainable housing developer Terra Green Living.
In short, we believe that this will be a year of great development economically speaking and we must be attentive to how events evolve.