Landco, Santander's land subsidiary reports over 2,900 homes under development and 2025 loss
Landco, the land‑management arm of Banco Santander, is converting into a residential promoter. By the end of 2025 it had more than 2,900 homes under promotion across 39 projects – 20 owned directly and 19 carried out through participatory real‑estate vehicles. A 2024 pact with Patron Capital will channel up to €365 million into the construction of 1,350 homes.
In the last fiscal year Landco started commercialising or building 19 promotions totalling 918 homes. It also sold 1,716 registered properties in 2025, including 1,053 parcels of land, 319 homes, 343 garages or storage units and one commercial space. Revenue rose 11.9% to €253.9 million, but the company recorded an operating loss of €22.5 million and a net loss of €18.4 million, compared with a €1.2 million net loss in 2024. Madrid was the biggest market with €58.6 million in sales, followed closely by the Valencian Community (€58.3 million).
Entities: Banco Santander · Landco · Madrid · Patron Capital · Spain
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 5 SOURCES] In 2024 Landco signed an agreement with Patron Capital to invest up to €365 million in the promotion of 1,350 homes. (El principal, uno firmado en 2024 con Patron Capital para invertir hasta 365 millones de euros en la promoción de 1. 350)
- [● 5 SOURCES] In 2025 Landco sold 1,716 registered properties: 1,053 parcels of land, 319 homes, 343 garages or storage units and one commercial unit. (Durante 2025 vendió 1. 716 fincas registrales, clasificadas en1. 053 suelos, 319 viviendas, 343 garajes y trasteros y un)
- [● 5 SOURCES] During the last fiscal year Landco began commercialising or constructing 19 promotions totalling 918 homes. (Durante el último ejercicio, Landco comenzó a comercializar o construir 19 promociones que suman 918 viviendas.)
- [● 5 SOURCES] 20 of the developments are owned directly and 19 are carried out through participatory real‑estate vehicles. (Concretamente, 20 de estos desarrollos son propios y otros 19 los está llevando a cabo a través de vehículos inmobili...)
- [● 5 SOURCES] Landco is a real‑estate subsidiary of Banco Santander specialized in land management and transformation. (Landco, la filial inmobiliaria de Banco Santander...)
- [● 5 SOURCES] Landco ended 2025 with more than 2,900 homes under promotion across 39 projects. (Landco ... terminó 2025 con más de 2. 900 viviendas en promoción, repartidas entre 39 proyectos.)
- [● 5 SOURCES] Landco recorded a net loss of €18.4 million in 2025, compared with a €1.2 million loss in 2024. (El resultado neto fue negativo en 18,4 millones, frente a los 1,2 millones perdidos durante el ejercicio anterior.)
- [● 5 SOURCES] Landco's 2025 revenue was €253.9 million, an 11.9% increase from €227 million in 2024. (Landco alcanzó en 2025 una cifra de negocio de 253,9 millones de euros, un 11,9% más que los 227 millones contabilizados)