The creation of a SIGI - Sociedade de Investimento e Gestão Imobiliária (Real estate Investment and Management Society), Portugal’s version of a REIT– or entering the Lisbon Stock Exchange are, for now, two of the options on the table.
Currently, Merlin owns 100.000 sqm GLA in offices in the Portuguese market, which have a 94.5% occupation rate, above the company’s portfolio average.
The information was advanced this Tuesday by Ismael Clemente, CEO at Spain’s largest REIT, during the shareholders’ general meeting. Merlin’s CEO commented on the same occasion that «Portugal is a vibrant market», thus restating that the country will be one of the main focuses for the company’s investment.
Logistic is the main focus
Merlin Properties should also reinforce its logistic portfolio in Iberia. With its new investment vehicle Best III the company should buy 500.000 sqm in logistic areas, investing 300 million euro.
This same vehicle, which was created due to the high demand in this sector, will only be operational between 2021 and 2023. The company’s goal is to reinforce its bet on large Iberian cities, such as Valencia, Zaragoza or Lisbon.
The company’s other news have to do with the use of parking lots for logistic purposes during the night.