In the first nine months of 2022, Sierra reinforced and diversified its portfolio of assets under management in Europe and Morocco, signing 23 new contracts and attracting new clients. Since the beginning of the year, the Company has 11 new contracts in the Property Management area and 12 in Leasing, serving different client profiles, from institutional to private investors.
With more than three decades of experience in providing real estate management services, Sierra has been focusing on international growth covering different types of real estate assets. Since the beginning of the year, the growth in the provision of Property Management services has been significant in countries such as Germany, Spain, Italy, Poland, Portugal, Morocco and Kosovo.
Cristina Santos, Executive Director of Property Management at Sierra, says: “We are very pleased with the significant increase in new service contracts obtained in these first 9 months of the year. In addition to reinforcing our position as managers and leasing agents of Shopping Centres and Retail Parks, we would highlight the entry into new types of assets, such as mixed-use buildings and office leases, as well as the expansion of our business into new countries, and winning new clients.”
One of the assets recently added to the management portfolio was Atrium Saldanha, an emblematic mixeduse building which is one of the most important office centres in Portugal, with a significant retail component.
In Spain, since September, Sierra has been responsible for the leasing of Breogán Park, in La Coruña, the largest retail park and mixed-use project under development in the country, with more than 60,000 m2 of GLA. In Germany, the Company started managing the Europa Galerie in Saarbrücken, in a country where it has a portfolio of 7 assets under management. Another relevant contract was the leasing service for the Vulcano shopping centre, in Italy, located in the metropolitan area of Milan, which has around 160 stores.
Among the various assets added to the management portfolio outside Europe, the Aeria Mall in Casablanca stands out, where Sierra is responsible for management and leasing. In Morocco, Sonae Sierra manages a
diversified portfolio with 3 shopping centres under its Property Management services, and a further 3 leasing contracts for 3 other diverse assets, including one of the main train stations in Rabat.
Finally, during this period, Sierra signed a contract comprising a wide range of services with Prishtina Mall, which is expected to be the largest shopping centre in Southeast Europe. Located in the capital of Kosovo, it is an asset with a GLA of 115,000 m2 and around 235 stores.
