Metrovacesa, founded in 1918 in Madrid, is among Spain’s oldest real estate development companies. It originally emerged as the Compañía Urbanizadora Metropolitana, developing Madrid’s Cuatro Caminos neighborhood and later constructing landmark buildings such as the Spain Building (1953) and Madrid Tower (1955). In 1989, the firm adopted the name Metrovacesa after merging several predecessor entities.
Over the decades, the company’s focus evolved from urban housing to a wider scope, including residential, commercial, and land development. Today, Metrovacesa operates mainly in Spain, managing a portfolio of over €2.5 billion in assets. Its business model revolves around acquiring, developing, and selling both residential and commercial properties, supplemented by active land management. The company is based in Madrid and runs projects in 31 Spanish provinces.
After weathering Spain’s financial crises, Metrovacesa refocused on residential development. In recent years, its backlog has surpassed €1 billion in sales, and in 2023, reported revenues reached approximately €653 million, with a net profit margin of 2.43 percent. The company states it owns one of the largest liquid land portfolios in Spain and emphasizes long-term value through both new housing developments and urban transformation projects.
Current projects include substantial urban developments and the continued transformation of key land assets, such as the 3 Chimneys project in Barcelona. Metrovacesa is led by CEO Jorge Pérez de Leza and maintains a workforce of over 200 employees.