APEX, the real estate branch of IBERDROLA, took in a net profit of 86.41m in the last year which is an increase of 6% compared to 2002. According to a spokesperson for the company, the gross amount came to 126.23m (a 5.1% increase) while the company figures decreased by 4.78% to 368.4m. At the end of the financial year, APEX shares were valued at 1.185,57m and their own funds increased to 518.81m.
During 2003, investments (those carried out and those planned) by the company for the purchase of land amounted to 304.07m. APEX ended the year with a total of 18 residential developments in construction (involving 1,706 apartments) and 17 developments underway representing another 1,612 apartments.
In 2003, the subsidiary of IBERDROLA handed over 1,098 apartments.
APEX has 2.17 million square meters of building ground destined for residential and tertiary developments. This year, the company will complete its 5 star hotel in Diagonal Mar (Barcelona) which will be run by the Hilton group.
