Real estate developer Montebalito closed the first half of 2026 with an operational balance sheet marked by the consolidation of its strategy in the Canary Islands, where southern Gran Canaria stands as the epicenter of its growth. The company billed €3,7 million through June, representing an 8% year-on-year increase, driven primarily by its residential development division, which contributed €1,8 million—54% of total revenue.
The management report highlights the significant role of operations in Gran Canaria. In the municipality of Mogán, the company is in the final stages of updating and completing the urbanization works for Polígono 24, known as Calas de Gran Canaria. This project is crucial for the developer, as its completion and acceptance by the city council will allow it to apply for permits for a large-scale development that will include hotels, shopping centers, tourist apartments, and residential villas. Furthermore, the company has strengthened its position in this area with the recent acquisition of 13 additional plots of land designated for the construction of 250 units.
Meanwhile, in the municipality of San Bartolomé de Tirajana, Montebalito is planning a residential and tourist complex in the San Agustín area. The project envisions the construction of 55 apartments with tourist amenities and complementary uses, and is progressing through the processing of a minor modification to the existing Partial Plan for the area.
The developer has significantly improved its operating profitability, achieving an EBITDA of €549.000, almost 150% higher than the €222.000 recorded in the same period of the previous year. Although net profit after tax stood at €862.000—a 10,2% decrease compared to 2025—the company highlights the strength of its financial structure. With net financial debt of €16,3 million, the group maintains an extremely prudent loan-to-value ratio of 11,5% on assets exceeding €110 million.
Beyond its projects in southern Gran Canaria, Montebalito continues to diversify its portfolio to mitigate risks and maximize asset appreciation. Elsewhere in the archipelago, it is progressing with the development of a boutique hotel in El Cotillo (Fuerteventura). On the Spanish mainland, it is maintaining its plans in Seville—where it is building an 86-room hotel with a lease agreement signed for 2027—and in Vigo, where it seeks to promote new commercial projects following the recent approval of the General Urban Development Plan.
Internationally, the firm continues to develop residential projects in Brazil (Recife and Pernambuco) and market large-scale projects in the Dominican Republic, consolidating a portfolio that, according to management, maintains "very measured risks" while preparing the ground for the coming years in a Canary Islands market to which the developer attributes a "high potential" for growth.
