Spanish property company Realia said its net loss increased by 18% to EUR 54 mln in 2009, mostly as a result of hefty writedowns in its property protfolio. Realia, which is controlled by construction group FCC and Spanish lender Caja Madrid, saw the value of its portfolio shed nearly 12% to EUR 4.5 bn at the end of 2009, according to the latest valuation carried out by CB Richard Ellis. The development portfolio was the most affected, with a decrease in value of 42%, due to the postponement of a number of projects.
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