Colonial. A radical turnaround
In just one year Colonial has managed to reduce its debt by 2,094 million Euros to 6,400 million Euros (in September 2008 its debt totalled 8,494 million Euros). The debt was reduced through the issue of convertible debentures for 1,311 million Euros, the partial execution of the sale of 33% of its subsidiary, SFL, and15% of FCC (1,043 million Euros in total), agreements to sell land and residential property to financial entities for 327 million Euros and the sale of other assets for 291 million
More [+]

Metrovacesa. Weighed down by assets.
Controlled by its creditor banks since 2008, the company holds a debt of 6,202 million Euros. The depreciation of its assets has undermined a 2009 which, in September, stood at 508 million Euros in revenue.
More [+]

Reyal Urbis. A difficult refinancing.
Its 850 million Euros in revenue in the first nine months of 2009 (Ebitda of 19.5 million Euros), improve the crimson colour of its accounts. Although it still needs to refinance a debt of 4,800 million Euros.
More [+]

4.- Vallehermoso (Grupo Sacyr Vallehermoso). Propped up by the Group.
The sale of Itínere by its parent company, which has brought very positive numbers to the group in 2009, has lightened the burden of its losses of 150 million Euros in the real estate business during the financial year.
More [+]

5.- Parquesol (now part of Grupo San José). Lighter red numbers.
To September 2009, the real estate division of San José –which represents 14% of the business – reported Ebitda of 20.8 million Euros and so its numbers are less red than in 2008.
More [+]

6.- Renta Corporación. Debt halved.
It reported revenue of 341.6 million Euros to September 2009, most of which due to a payment as refinancing of a debt which has been reduced by 54% from 2008, and now stands at 296 million Euros.
More [+]

7.- Realia. Good sales, bitter results.
To September 2009 the company has sold 506 houses (106% more than September of the previous year), but the depreciation of its assets and the resulting falling revenue (240 million Euros) has shrunk its accounts to nearly 43 million Euros.
More [+]

8.- Chamartín Inmobiliaria. International offer.
60% of its business is real estate and 60% of its offer is outside Spain, an advantage in the current crisis. Owned by the Cutillas (45%), Morgan Stanley (18%) and Caja Castilla-La Mancha (8%).
More [+]

9.- Hercesa. The queen of real estate exhibition fairs.
They claim to have sold more property in real estate exhibition fairs than anyone else in 2009 (3Q): 450. They have 30,000 flats under development in 10 countries and 9 million square metres in portfolio.
More [+]

10.- Martinsa Fadesa. On the road to salvation.
Currently in bankruptcy proceedings (hence this place in the ranking), the company has negative net equity of 1,292 million Euros, but reported a turnover of 401 million Euros in 2009 and has reduced its debt.
More [+]