Link Securities| LandCo, the land development subsidiary of Banco Santander (SAN), has reached profitability three years ahead of its business plan, according to Expansión newspaper.
LandCo manages 10,000 plots of land, after selling 4,000 assets since its creation in 2020. The real estate company expects to close land sales for more than €200 million this year. The firm’s land portfolio stands at €1.7 billion, compared to €2.1 billion originally. The land developer is also negotiating with funds and family offices to co-invest in the sector.
