PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Colonial leads Spanish property companies in disastrous third-quarter earnings
Spain's strugglilng property group Colonial posted a e2.5bn loss in the first 9mths, the worst result in the sector. Revenue fell 23.7% to e472.8m. Like its rivals, Colonial suffered from a drastic devaluation of assets and a sharp halt to the once-booming Spanish property sector. Assets are worth around e9.4bn, 14.2% lower than at the end of 2007. Colonial's debt was slightly under e9bn.