Construction and refurbishment businesses in Valencia: buying, selling and valuation
Construction in the province of Valencia had 22,042 active establishments as of 2025, 45.6% of the Valencian Community (Comunidad Valenciana) total. Of these, 11,732 are in building construction, 442 in civil engineering and 9,868 in specialised construction activities. Here, Valencia means the province of Valencia, not only the city.
If you count companies rather than premises, the DIRCE (Central Business Directory of the INE, the Spanish National Statistics Institute) attributes 20,057 construction companies to the province. They are two different measures of the same sector: the first counts each workplace and the second each company or self-employed person (autónomo), so they should not be compared or added together.
Construction and refurbishment · Valencia in figures
Active establishments in the province (CNAE activity code 41, 42, 43)
22,042
Share of the Valencian Community
45.6%
Active companies in the province (all activities)
186,970
What affects the value of construction and refurbishment businesses in Valencia
A construction or refurbishment company is valued, first and foremost, on the work it has ahead of it. The contracted order book still to be executed, with realistic expected margins, is what allows the buyer to estimate profit for the coming financial years. Good past results with no work in the order book are worth less than they seem.
The second block is the risks that travel with the company: bank guarantees (avales) issued, warranties for construction defects, customer claims, disputes with subcontractors and retentions yet to be released. In a sale of shares (participaciones) all of this passes to the buyer, who will want to review it thoroughly and protect themselves in the contract. It is worth confirming the scope of those liabilities with a legal adviser.
Structure also matters. Experienced site managers, reliable foremen and a network of trusted subcontractors are hard to rebuild. If the relationship with developers and clients is handled only by the owner, the buyer will require them to stay on for a while.
For those working with the public sector, classification as a contractor and accredited solvency are an asset that opens or closes tenders. In any case, how working capital is managed, with progress certifications, collections and supplier payments, says a lot about how healthy the company is.
Indicative valuation multiples
| Method | Range | Median |
|---|---|---|
| SDE (small businesses) | 1.5× – 2.8× | 2× |
| EBITDA (medium-sized businesses) | 3× – 5.5× | 4× |
Frequently asked questions
According to the INE's DIRCE, the province had 20,057 construction companies as of 2025, and a larger number of establishments, because one company can have several sites. The breakdown by establishment separates building, civil works and specialised construction.
It is reviewed project by project: what has been certified, what has been collected, what is pending, and the margin still to be made or lost. A project with overruns can end up reducing the price, so it is advisable to have the tracking up to date before opening the process.
It depends on whether the company or only its assets are sold, and on what is agreed. The usual approach is to negotiate warranties and, sometimes, a deferred part of the price to cover possible claims. It is worth confirming this with a legal adviser.
There is no general rule. Refurbishment tends to involve smaller and more numerous jobs, with less risk per client; new build involves larger amounts with more concentration. Value depends on the profitability, order book and structure of each.
Builders that want more capacity or to enter another district (comarca), trade firms looking to deliver complete projects, developers that prefer to have their own construction company, and investors who rely on the existing management team.
This is a point that must be resolved in the negotiation. If you have signed personal guarantees for the company, the sensible approach is to agree that the buyer replaces them or that they are released before completion. Leaving it for later can keep you exposed to projects you no longer control, so it is worth reviewing it with a legal adviser.
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- Instituto Nacional de Estadística (INE): Locales por provincia, actividad principal (divisiones CNAE 2009) y estrato de asalariados
- Instituto Nacional de Estadística (INE): Locales por CCAA, actividad principal (grupos CNAE 2009) y estrato de asalariados
- Instituto Nacional de Estadística (INE): Empresas por provincia y estrato de asalariados
- Generalitat Valenciana – Institut Valencià d'Estadística (Portal Estadístic de la Generalitat Valenciana, PEGV): Banc de Dades Territorial – Difusió municipal del Directori Central d'Empreses: Empreses segons sector de la seua activitat principal (how to open it: https://pegv.gva.es/bdt → Empreses → Difusió municipal del Directori Central d'Empreses → Empreses segons sector de la seua activitat principal)
Latest official data available on the date given for each source.
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