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retail-shopping-centers Market News: Spanish Real Estate Intelligence

Montijo Retail Park Inaugurated
28 May 2019Richard D. K. Turner The Montijo Retail Park, which is owned by Commerz Real and managed by Multi Portugal, is already open to the public. The shopping centre has 18,000m2 of gross leasable area, including six large and medium-sized commercial units with areas ranging from 1,000 to 9,000 m2. Conforama, Leroy Merlin, Espaço Casa, and Guimarães Footwear are among the first tenants, and Sports Direct will open a 1,800m2 store in July and the mall will be fully operational by September. Original Story: Diário Imobiliário  
 
Sonae Sierra to Invest in Expansion of Colombo and NorteShopping
22 May 2019Richard D. K. Turner Sonae Sierra will invest a total of 228 million euros in the expansion of two of its shopping centres, Colombo and NorteShopping. The company plans an investment of 151 million euros the construction of a third office building and the expansion of the shopping area of ​​the Centro Colombo in Lisbon, together with another €77 million modernising Porto’s NorteShopping. The new office tower at the Colombo shopping centre will have nine floors and 33,000 square meters, while the shopping area will increase by 10,500 m2 (GLA). The €77 million investment in NorteShopping will increase its gross leasable area by 13,000 m2, create adding another 1,000 parking spaces. Work is expected to continue until the end of 2020. Original Story: Idealista Photo: Wikimedia Commons
 
Investment in Retail & Commercial Real Estate Falls to Multi-Year Low in Portugal
8 May 2019Richard D. K. Turner The Jornal de Negócios ran an article yesterday stating that there had been a total €44.5 billion of investment in commercial real estate in the first three months of 2019.  According to the consultancy Real Capital Analytics, which originally published the data, the figure is equivalent to a drop of 32% y-o-y, and the lowest total since the first quarter of 2013 and well below the first-quarterly average of 71 billion euros. The consultancy added that it believes the results are due to political uncertainty and slowing economic growth.  The slowdown is also reaching the retail real estate sector, partially due to increasing investments in e-commerce.  Sales in that market fell by 62% to a ten-year low. The residential market has performed better, but analysts are pointing to the potential for falling growth in that sector as well. Original Story: Jornal de Negócios - Pedro Curvelo