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Merlin intends to "consolidate its prime position" in Portugal
18 October 2019 | Vanessa Sousa

Merlin Properties has well defined plans for Portugal. One of them consists in carrying out «selective acquisitions so as to consolidate its position within the country’s prime market». Another plan consists in «gaining visibility in the local market» by betting on dual listing.

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The information was advanced within the company’s latest report “Capital Markets Day 2019”, which was made available this Thursday by the Comisión Nacional del Mercado de Valores. The same document also reveals that the possibility of Merlin exploring the new Portuguese REIT regime – the so called SIGI - Sociedades de Investimento e Gestão Imobiliária (Real Estate Investment and Management Societies)  – is still on the table.

The Portuguese market’s «strong performance» has not been ignored by Merlin, which, this year alone, has already carried out 3 acquisitions in Portugal worth 125 million euro. One of them was Nestlé’s headquarters, located in Lisbon, for which it paid around 12.5 million euro. The other two were the office buildings Art’s and Torre Fernão de Magalhães – both located in Lisbon –, which cost 112.2 million euro.

Merlin’s portfolio already includes 9 office buildings located in Portugal – their total combined area is 112.569 sqm. The company also has 2 shopping centres (Almada and Monumental) and a 224.874 sqm logistic park.

Merlin Properties currently manages – in Portugal and Spain – a portfolio estimated at 12.300 million euro, with the Portuguese share representing around 9% of that amount.