18 December 2019 – Investments in 2019 in shopping centres totalled €1.018 billion in the year to September, the lowest level since 2013. The volume of acquisitions in the same period was just 35% of the level in 2018, when it reached €2.9 billion. Analysts expect that total acquisitions for the year will reach between 1.500 and 2 billion euros, according to a report by CBRE.
The fall in investment in the sector is in large part due to the untrammelled growth in e-commerce even as sales in shopping centres remain robust. The revenues generated by e-commerce in Spain increased by 22.2% year-on-year in the first quarter of 2019, reaching €10.969 billion and an 8% market share.
Original Story: Eje Prime
Adaptation/Translation: Richard D. K. Turner