The company, which also specialises in the management of rental housing, leapt into the Spanish market in December last year with the purchase of the consultancy firm JLL’s real estate management division. That deal saw MGVM expand its portfolio of assets under management to 12 million m2 across ten countries in Europe; in Spain, its retail business accounts for 30% of its current portfolio.
In terms of its growth plans in Spain, MVGM is committed to both residential and commercial properties. “We currently manage 18 commercial assets spanning more than 1 million square metres and we expect to close this year with around 23 or 24 centres,” explains Helena de Arco, Director of Retail at MVGM, in an interview with El Economista newspaper. That would represent a 33% increase in the company’s retail portfolio during the course of this year.
Translation/Summary: Carmel Drake