CLERHP's balance sheet grows by 43% to USD 163.84 million as it transforms from an engineering firm into a property developer
CLERHP's balance sheet grows by 43% to USD 163.84 million as it transforms from an engineering firm into a property developer
PR Newswire
PUNTA CANA, Dominican Republic, Nov. 3, 2026
- The Group expects to generate revenue of USD 797.58 million, EBITDA of USD 256.37 million and net profit of USD 165.21 million, according to its 2026–2028 Strategic Plan.
PUNTA CANA, Dominican Republic, Nov. 3, 2026 /PRNewswire/ -- Spanish group CLERHP, which specialises in engineering, architecture, construction and property development, ended the first half of 2026 with positive developments across its key financial and balance sheet indicators. Its most notable milestones include a USD 308 million increase in the value of its land holdings, approval of a financing programme of up to USD 75 million, and the achievement of A- credit ratings for the programme from Moody's Local Panamá and PCR, both of which are investment-grade ratings.
These advances accompany the consolidation of the Group's various business lines, with Larimar City & Resort playing a particularly prominent role. It is the Group's main property development and a project conceived as the first Smart City in the Dominican Republic.
In financial terms, the Group's revenue reached USD 7.20 million in the first half of 2026, representing an increase of 2.25% compared with the same period of the previous year. EBITDA stood at USD 4.61 million, an improvement of USD 1.03 million on the USD 3.59 million recorded in June 2025, equivalent to growth of 28.64%.
The Group also recorded consolidated net profit of USD 2.24 million, compared with the losses reported in the first half of 2025, thereby consolidating its return to positive results.
Larimar City & Resort, the Group's leading property development
Larimar City & Resort continues to be one of CLERHP's main growth drivers. As of October 2026, the project had achieved cumulative sales of USD 410.10 million, a clear indication of the development's commercial progress.
The land is also valued at USD 528 million. Taking into account the amount invested in the land, this represents an increase in value of USD 484.25 million.
"Anyone looking only at the sales figures is missing what is happening within the company. A property developer does not recognise revenue when a home is sold, but when it is handed over. We have sold more than USD 410 million worth of property at Larimar, and almost none of that is reflected in the income statement yet. The value has already been generated and will be reflected in the income statement once the first homes are handed over," said Juan José Moreno, CLERHP's Chief Financial and Operating Officer.
In terms of financing, CLERHP has reported total financing of USD 69.50 million, comprising USD 30.76 million from its Vienna and Panama bond programmes and USD 38.74 million in private debt. The Panama bond programme has a total value of USD 75 million, of which USD 48 million remain to be placed.
Further information:
Tel: +34 635 802770 / +1 809 831 5769
info@clerhp.com / info@larimarcity.com
www.clerhp.com / www.larimarcity.com
SOURCE CLERHP
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