español al inglés Negocios/Finanzas Construcción / Ingeniería civil Balance Sheet

This term appears on the balance sheet of a company which constructs and sells real estate (see below). According to Eurodicautom, "Promotor" can mean "Property Developer" in English.....so I suspect "promociones en curso" means something like "Property Development in Progress" or "Properties currently under development". The below extract from the relevant balance sheet convinces me even more since item (1) refers to before construction begins, and item (3) when construction is completed.....suggesting that item (2) refers to the actual building process:

Actividad inmobiliaria:
- Terrenos y solares (1)
- Promociones en curso (2)
- Obras terminadas y edificios construidos (3)

Thanks in advance for your help!