×
316
Fashion Jobs
TIME TECHNOPLAST
Area Sales Manager
Permanent · Andheri
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-b.Tech Fresher-German Mnc -Immediate Joining
Permanent · Bhubaneswar
By
Reuters
Published
Jun 27, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Spain mall sales may hit $1.4 bln in 2011

By
Reuters
Published
Jun 27, 2011

LONDON, June 27 (Reuters) - Spanish retail property's appeal to investors will linger into late 2011, with more shopping mall assets being sold into an increasingly competitive market, potentially doubling deal volumes to about 1 billion euros ($1.43 billion), research showed.


Las Arenas shopping centre in Barcelona

Property consultancy Savills said Dutch, British and German funds would continue to dominate transactions, having accounted for about 90 percent of the 696 million euros deal volume in 2010.

"About 700-800 million euros is expected to be transacted (this year) but with some investment opportunities totalling 100 million euros alone, a larger total could be achieved," Savills said in a statement on Monday.

Deal volumes could rise to about 1 billion euros by the sale of two malls -- Invest Cos' Marineda City in La Coruna and Acciona's Splau in Barcelona -- that are on the market separately for a total of about 500 million euros, Savills said.

Investment volumes into Spanish malls for the January-May period totaled 165 million euros, Savills said.

Gross yields for prime shopping centres would remain at about 6.5 percent on average, with retail parks and secondary properties achieving gross yields of about 7 percent, it said.

Global property investors have been scouring Spain for discount retail assets for the past year, betting the nation's recession-hurt economy is at or near its nadir and that a gradual return to health will boost prices.

Spain's economy is seen growing by 0.7 percent in 2011 and by 1.4 percent in 2012, a Reuters poll showed.

"Everything points towards the fact that investor activity is improving. The amount of product for sale has increased and investors appear to be more interested in actively participating in the market," Savills said.

"Also, new players on the investment scene could certainly boost investor activity."

Savills said the increasing number of vendors in 2011 would be led by banks divesting assets, followed by local developers and traditional investors.

In April, Reuters reported several investors seeking deals in Spain, among them F&C REIT , Henderson Global Investors , Cerberus Capital , BlackRock , and Unibail-Rodamco .

In the same report, Investment Property Databank research showed commercial property total returns for 2010 hit 4.9 percent, from 2009's negative return of 9.3 percent, the turnaround helped by increased rivalry for cut-price assets. (Reporting by Andrew Macdonald; Editing by Louise Heavens)

© Thomson Reuters 2023 All rights reserved.