13/10/2014 – Mercado Dinero
From January throughout August, in Spain, investment in retail parks amounted to €1.26 billion proceeding from 24 operations, reports property advisor BNP Paribas Real Estate.
Currently, shopping malls account for 91% of all retail investments in Spain. The segment represented 35% of the entire €3.5 billion amount spent on non-residential assets in the first eight months of 2014.
Although dominated by the foreign equity, investment in shopping centers can be equally divided between overseas and domestic investors due to vivid activity of the freshly listed Spanish Reits – Socimis. Most of the foreign funds come from the Northern America, the United Kingdom and the Netherlands.
When it comes to the investment target cities, Madrid wins with seven deals totalling at €392 million.
It is predicted that employment and consumption will drive the transactions up.
Original article: Mercado Dinero
Translation: AURA REE