The number of SOCIMI quoted in the MAB 2016 up 75%

The number of SOCIMI quoted in the MAB 2016 up 75%

They count for 75% more than 2015 and confirm the expansion of this kind of investment society based on the rental sector to include all kinds of assets since arriving on the Spanish market in 2013, after the exchange regulation, which equipped them REIT.

For Antonio Fernández, registered assessor for the integration of SOCIMI to MAB and President of ARMABEX, “this modification has definitively animated the establishment of SOCIMI in our country”.

To November 2016, el MAB has received un total of 25 SOCIMI which, together, have a capital accumulation superior to 3,231 million euros and assets valued at more than 7,586 million euros at the moment of their integration into MAB. It can be predicted that, before the end of the year, there will be at least more than the three SOCIMI which are currently in the final phase of obtaining MAB approval to begin trading.

A scan of the sector carried out by ARMABEX was presented in the transcript of the Encuentro Inmobiliario “SOCIMI, from its launch to its consolidation”, organised by ARMABEX, Gesvalt, Uría Menéndez and Observatorio Inmobiliario on the 8th last in Madrid. This analysis shows that until today, the SOCIMI standard quoted on MAB belongs to non-resident shareholders. There are between 5 and 20 assets in the portfolio; investment is mainly in office and house rentals; their management consider Madrid and Barcelona as the main locations of their acquired real estate; and levels of debt are strictly controlled. The average is 40% below the market value of all the included real estate assets.

Of the 7,586 million euros of investment attracted in the past few years through the 25 SOCIMI, 70.40% came from non-residents, mainly international investors, professionals and specialists, with an in-depth knowledge of management and real estate in equal measure. Independent of the country of origin of the invested funds, these investors use established societies in Luxembourg which, as a member country of the European Union, offers excellent facilities, complementary to the requirements of the Spanish regulator in order to carry out investments in SOCIMI efficiently.

 

Madrid and Barcelona are the cities most invested in by SOCIMI

68% of SOCIMI hold in their portfolios properties situated in Madrid, and 32% in Barcelona. Additionally, both cities contain about 60% of the total market value of real estate assets, amounting to 4,519 million euros. 

With 32.68 % of total investment, offices have been, since the beginning of real estate activity, the first choice to be integrated into the portfolios of SOCIMI, followed by housing, at 18.95%.

Commercial centres (16.55%) and shopping centres (16.42%) have been the star players in recent years and, at this point in time, since ARMABEX expects SOCIMI hotel premises and those with land for the promotion of new real estate to be the most important assets in the construction of new SOCIMI. At present, they represent 4.74% and 2.21% respectively.

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