News

High volumen of deliveries and billing despite of dificulties. Significant cash Flow generation and debt reduction. Low level of pre sales in the 2020 Financial year. The commercial portfolio decreases as no new developments have been launched. Freezing new land investments. Margins and Results are affected by COVID 19 pandemic and accounting adjustments. Refinancing of debt associated with land and corporate debt. Search for ways to guarantee the viability of the
company.

Quabit has focused its action in this period on facing the different consequences derived from the pandemic and the priority has been to adapt the activity and the structure of the Group to the reality with which it is having to live since March 2020 , with the objective of having both the organizational and financial structure prepared to return to the path of growth at the moment when the expected (and foreseeable) recovery of 2021 begins.

Start of a relevant number of home units delivered (1Q 2020 best quarter in deeds of the last years).
Sales coverage of 80% in developments with construction; progress > 75% (974 home units).
COVID-19: Relevant impact on the economy and on real estate. Work in Progress for impact appraisal and measures to take.
Quabit's good positioning against potential changes on the demand.
Competitive advantage thanks to internalization of construction activity.

Quabit Inmobiliaria plans to start the building of nearly 500 home units on the seafront within a maximum of three years.

Sector “UE-2 Port Saplaya”, a zone classed as developable, is one of the few located on the seafront which can currently be developed and is strategically placed, given its medium-term development capacity and high potential increase in value.

The new zoning plan of the Sector in which Quabit is already working, includes high-quality residential developments of both primary and secondary residences.

The Company’s plans include reaching recurring positive operational results from the last quarter of this year. The 2020 financial year should be the first one with operational profits.

This successful placement is a sound endorsement of the company’s strategy and confirms the investor interest and market trust in Quabit and its management capabilities.

This issuance, with a 4-year maturity, bears an 8.25% coupon payable annually. This has enabled the property group to significantly enhance the financial conditions and cost of its debt, which will in turn translate into increased company profits and value generation for its shareholders.

Turnover grew by 596% to 39.7 million euros due to the significant increase in home delivery (190 compared to 6 in the previous period).

Quabit's residential portfolio consisted of 55 developments with 4,031 dwellings in different phases of construction, with an expected turnover of 839 million.

Since its growth plan began in 2017, the company has invested 186 million in residential land to build almost 4,800 units. 

The company is to open a new Branch Office in Valencia to head up its growth and expansion in Levante.

This residential development forms part of “Quabit vivienda joven”, an original campaign with discounts on the final price to allow future buyers to find a home and become independent.

Nearly 20% of Quabit’s land portfolio is located precisely in Malaga and on Costa del Sol where it is currently developing almost 1,300 units in 18 residential developments. 

In total, 75 independent chalets intended both for national and foreign clients and, among the latter, chiefly English and French.

Its owners, the only members of the “The 40-4 Club”, will have exclusive access to the “Relax Circle”, “Water Place”, “Gastrobar”, “Sports House” and many other amenities and additional facilities such as the jacuzzi areas, chill-out area or the gardens with elderberries, lavender, rosemary, thyme and broom.