The investment is part of a plan with an estimated total investment of 260 million euro through the next 3 to 4 years in the renewal of several of its assets in the Spanish market. It also includes the renewal of the Designer Outlet Center, in Malaga, in a 140 million euro investment.
According to EjePrime, the three shopping centres were acquired in December, in partnership with Peter Korbacka. They will now be fully renovated.
Despite the Spanish market’s maturity, Alexandre Pessegueiro, director of Asset Management in Spain for the Portuguese company, states to the same source that Sonae Sierra remains open to new acquisitions in Spain, believing that there is space for new offer in the country.