During this period, the shopping centres owned by the company kept growing, with sales from shops increasing 1.3% within the European portfolio, particularly in Spain and Romania, which registered increases of 9.8% and 7.3% respectively. Note for the effect the acquisition of Area Sur, in June 2017, had on the activity in Spain, and for the performance of the new Park Lake, in Romania.
Rents from the portfolio grew 1,7% in Europe, with a significant contribute from the Iberian Peninsula, where the rents increased 3,9% in Portugal and 2,6% in Spain.
During this period, the overall occupancy rate of the portfolio climbed to 96.3%, 0.7% more yoy, standing at 97.1% in Europe eand 93.6% in Brazil.
The porperties’ EBIT reached 64 million euro, 0.6% less yoy, reflecting the asset sales Sonae Sierra carried out in Europe and the effect of Real’s devaluation.
Until September, Sonae Sierra reduced its share in Serra Shopping, in Covilhã, and kept developing Jardín Plaza Cúcuta (Colombia), Emilia District (Parma, Italy), Fashion City Outlet (Greece), McArthurGlen Designer Outlet Málaga (Spain) and Shopping Centre Zenata (Morocco) and, in Portugal, the expansions of NorteShopping and Centro Colombo.