Lisbon, Portugal, January 19th 2009
Increasing its portfolio under management
Sonae Sierra takes over the management of two centres in Spain and Germany
- "Post Galerie" in Karlsruhe (Germany) and "Los Conquistadores" in Badajoz (Spain)
Sonae Sierra has recently taken over the management of two shopping centres in Spain and Germany, "Los Conquistadores" in Badajoz and "Post Galerie" in Karlsruhe, increasing its international portfolio under management.
Located in the centre of the German city of Karlsruhe - one of the cities with greater purchasing power in Germany - the "Post Galerie" has a Gross Lettable Area (GLA) of 26,000 m2, 58 shops, and covers a market of 1.3 million potential consumers. In Germany, Sonae Sierra already owns and manages the "Alexa", in Berlin, and the "Münster Arkaden", in Münster, and is scheduled to inaugurate next Autumn the "Loop5", in Weiterstadt.
Inaugurated in 1999, the "Los Conquistadores", in Badajoz, has a Gross Lettable Area (GLA) of 9,700 m2 and 24 shops, besides a children's play park, five restaurants, eight cinemas and one supermarket. This centre is now the fourth managed for different owners by Sonae Sierra in Spain.
For Pedro Caupers, Sonae Sierra's Board Member responsible for Shopping Centre Management, "the management of these two centres strengthens our presence in the Spanish and German markets, and is proof of the international acknowledgement of our ability to manage shopping centres".
In terms of property and management, Sonae Sierra currently owns twelve shopping centres in Spain: GranCasa in Zaragoza, Max Center in Bilbao, Valle Real in Santander, La Farga in Barcelona, Parque Principado in Oviedo, Dos Mares in San Javier in Murcia, Avenida M-40 in Leganés (Madrid), Luz del Tajo in Toledo, Zubiarte in Bilbao, Plaza Éboli in Pinto (Madrid), El Rosal in Ponferrada (León) and Plaza Mayor in Malaga.
Sonae Sierra, http://www.sonaesierra.com/, is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping and leisure centre industry. The Company owns 50 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 1.9 million m2. Sonae Sierra has 15 projects under development and 12 new projects in different phases of completion, with a total GLA of 1.2 million m2.