Metrovacesa, S.A. is one of Spain's largest real estate developers, specializing in the promotion and sale of sustainable single-family and multi-family residential properties. The company's business model spans the entire real estate development cycle, from land acquisition and urban planning to project development and the final delivery of homes. While its primary focus is on the residential sector—which accounts for the vast majority of its revenue—Metrovacesa also engages in the development of commercial real estate (tertiary sector) and active land management. The company operates exclusively in Spain, with a strong presence in key provinces such as Madrid, Barcelona, Valencia, Málaga, and various coastal regions. Metrovacesa boasts a massive land bank of over 6 million square meters, providing significant visibility for future project pipelines. The company acts as a developer ('promotora') and outsources the physical construction of its projects to third-party contractors. Following a major restructuring of the historical Metrovacesa group—which saw its commercial and residential rental businesses spun off into Merlin Properties and Testa Residencial—the current legal entity was incorporated in 2016 to hold the remaining development assets and land bank, subsequently returning to the public markets in 2018.
