Real Estate Company Sonae Sierra Sees Net Benefit Reduced By 26%
Portuguese real estate company Sonae Sierra, which specialises in investments in the retail business, on an international scale, reached a net benefit of €59 million after the first semester of 2016.
As reported by eleconomista.es, the figure represents a reduction of 26% compared to the same period last year, where it achieved €79 million.
The occupation rate of Sonae Sierra's portfolio reached 96.1%- 0.3% more than last year.
The positive results are attibuted to good management of the shopping centres, especially in Europe where the figure rose to 97.1%.
For the second half of 2016, the company has agreed on a strategic partnership with CBRE Global Investment Partners, for the ownership and management of its shopping centres in the Iberian Peninsula.
Three shopping centres in the region have recently been acquired by CBRE since the partnership begun.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.