- The General Shareholders’ Meeting, held yesterday, approved a dividend of 0.90 euros per share, to be paid on May 22.
- It delivered 218 homes with an average price of 421,000 euros (+35%) and improved its gross margin to 27%.
Madrid, April 29, 2026. Metrovacesa, a real estate developer with more than one hundred years of history in Spain, has started 2026 with a solid operating performance, registering a significant growth in revenues and consolidating the visibility of its activity for the coming years.
In the first quarter of the year, the developer achieved total revenues of 128.9 million euros, an increase of 66% compared to the same period of the previous year. This performance is supported both by the good performance of the residential business and by an outstanding contribution from the sale of land.
Revenues from residential development amounted to 92.2 million euros (+20%), following the delivery of 218 homes. The average price of these deliveries was 421,000 euros, 35% higher than the previous year, reflecting a higher value-added product mix. The gross developer margin rose to 27%, an improvement of 4.5 percentage points. Land activity generated revenues of 36.7 million euros, driven mainly by operations in the tertiary segment.
Jorge Pérez de Leza, CEO of Metrovacesa, said that the company has started the year “with solid revenue growth, supported by the quality of our product and discipline in execution. The improvement in average price and margins reflects the value of the developments we are delivering. At the same time, the strength of our presales portfolio provides us with high visibility over the coming years, allowing us to face 2026 with confidence.”
More than 1 billion distributed in dividends since 2018.
The company held its General Shareholders’ Meeting yesterday, at which all the items on the agenda were approved, including the distribution of a dividend of 0.90 euros per share, to be paid on May 22.
This dividend represents a significant increase with respect to the dividend paid in May 2025 (0.46 euros per share) and, added to the payment made in December, places the total remuneration charged to 2025 at outstanding levels within the market. Overall, Metrovacesa maintains one of the most attractive shareholder remuneration policies in the Spanish stock market, supported by its solid cash generation. Thus, since its IPO in 2018, the company will have distributed more than 1,000 million euros in dividends, reflecting its sustained commitment to shareholder value creation.
Strong commercial activity and high visibility
During the quarter, Metrovacesa recorded pre-sales of 106 million euros, with 283 homes sold and an average price of 374,000 euros per unit. The company maintains a high level of visibility over its future activity thanks to a presales portfolio of 3,160 homes, with an estimated value of 1,126 million euros. This portfolio covers 91% of the expected deliveries for 2026 and 73% for 2027.
At the end of March, Metrovacesa also had 3,748 homes under construction and more than 5,400 units being marketed, which reinforces its capacity to generate revenues in the medium term. In the land area, the company closed the quarter with a portfolio of private land sale contracts worth 134 million euros, which will materialize between 2026 and 2027, reinforcing its future revenue base.
Metrovacesa has also continued to advance in its diversification strategy through co-investment agreements, including the development of coliving projects in Seville and Valencia, in collaboration with specialized partners, where the company acts as development manager.
