Habitat, the Spanish property developer which filed for administration last December, posted a loss of EUR 1 bn in 2008 and unveiled EUR 2.8 bn of corporate debt this week with a total of 1,600 creditors. CEO Bruno Figueras told Spanish newspaper Cinco Dias that the company was working 'to guarantee the continuation of its activities'.
Habitat, the Spanish property developer which filed for administration last December, posted a loss of EUR 1 bn in 2008 and unveiled EUR 2.8 bn of corporate debt this week with a total of 1,600 creditors. CEO Bruno Figueras told Spanish newspaper Cinco Dias that the company was working 'to guarantee the continuation of its activities'.
Habitat, which fuelled its acquisition of Ferrovial's real estate division with EUR 2 bn of debt in 2007, was the second largest property company to name administrators last year after the collapse of Martinsa Fadesa in July. Its turnover almost halved last year to EUR 396 mln.
