Over the last five years, Sonae Sierra has been repositioning its business. Therefore, if during the first twenty years the company acquired experience in developing, marketing and managing its own shopping centres, in this new phase, the brand wants to grow, above all, in the provision of services to third parties, opting to sell some of its portfolio assets to recycle capital, explained the company’s CEO, Fernando Guedes de Oliveira.
Between 2011 and 2016, the provision of services by Sonae Sierra to third parties (ranging from project development to day-to-day shopping centre management) grew approximately 60%, increasing from 20 to 35 active contracts in locations as far away as South America, North Africa and Asia, as well as, of course, Europe.
At the same time, the asset portfolio owned by Sonae Sierra has been decreasing, dropping from 49 in 2011 to 44 assets in 2016, in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil. Among the most recent deals is the sale, last June, of a portfolio of three shopping centres owned by the Sierra Fund in Portugal (Estação Viana Shopping and Algarve Shopping) and Spain (Luz del Tajo), whereby the company maintains the operational management of these spaces.