NEINVER closed 2025 with €1.72 billion in brand sales across the 20 retail assets it manages in Europe. This represents a 5% increase on a like-for-like basis compared to 2024, continuing a streak of consecutive years of growth. The portfolio, consisting of 16 outlet centres and 4 retail and leisure parks, underscores the outlet format as a key strategic channel for brands.

All centres delivered sales growth, with notable increases from Amsterdam The Style Outlets (+18%), Factory Annopol in Poland (+10%) and Parque Alegra in Spain (+8%). By market, the Netherlands recorded the highest growth (+18%), followed by Spain (+6%) and Poland (+4%).

NEINVER also welcomed over 70 million visitors across its centres in 2025. Occupancy remained strong, maintaining high levels seen in previous years (97%). Key retail indicators, including average ticket value and conversion rate, improved by 3% year-on-year.

Daniel Losantos, CEO of NEINVER, commented: “The positive results demonstrate the continued success of our approach: a long-term commitment to active asset management and creating value for brands, consumers, and investment partners.” He added, “Three decades ago, we opened Las Rozas The Style Outlets, the first outlet centre in Spain and one of the first in Europe. Ever since, we have consistently evolved our value proposition to meet the needs of our brand partners and customers. For brands, this means efficiency, agility, and growth; for consumers, it is about delivering value, convenience and exceptional experiences. Looking ahead, we will continue to focus on quality, enhancing our centres and making them more attractive, experience-driven, and sustainable.”

2025 was NEINVER’s most active leasing year to date. This commercial momentum supported high occupancy levels and a continued focus on optimising tenant mix and space configurations. NEINVER has strengthened its partnerships with brands like Nike, Guess, Levi’s, ASICS, Bestseller Group, Puma, Skechers, PVH Group, adidas, Hugo Boss, Pandora, Rituals, New Balance, Groupe SEB and Maus Frères, and more.

The company also expanded and improved its food & beverage offerings, with new brands such as PAUL, Lindt’s Choco Bar, Costa Coffee, Alice Pizza, Roadhouse, Billy Tacos, Poke House, Pariani, Jeff de Bruges, Kusmi Tea and Chalito.

Investment Programme and Pipeline: Focus on Quality

NEINVER continued to enhance its portfolio in 2025 through significant refurbishment projects, including a comprehensive upgrade of both the interior and exterior areas at Las Rozas The Style Outlets (Madrid), as well as the creation of a new food plaza and landscaping improvements at Castel Guelfo The Style Outlets (Bologna). These initiatives underscore the company’s ongoing commitment to delivering high-quality environments for brands and visitors alike.

Looking ahead, in Spain, San Sebastián de los Reyes The Style Outlets (Madrid) is scheduled to begin a renovation in 2026 while Viladecans The Style Outlets (Barcelona) is in the planning phase for an extension. In Italy, Vicolungo The Style Outlets (Novara) will further enhance its recently created food plaza. 

On the development side, NEINVER is advancing Alpes The Style Outlets, its second project in France, which will offer 20,400 m² of retail space and is expected to open at the end of 2027. Strategically located just 25 minutes from Geneva, it sits right by the A40 motorway, a key route linking Paris to Geneva and the Mont Blanc region, and is only a five-minute drive from the TGV station. The design project has undergone a major update, prioritizing green spaces, sustainable energy and mobility. 

Sustainability at the Core

Sustainability remains a central pillar of NEINVER’s strategy. Neptune, the joint venture between NEINVER and TIAA (Nuveen Real Estate’s parent company), achieved a 5-star GRESB rating for the sixth consecutive year, with a score of 93 out of 100 in the 2025 assessment.