Neinver looks to invest 350M by 2022 to grow in Europe and Spain

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company plans to invest up to one hundred million euros in remodeling its centers. Eighty Percent of the investment will go to the company's assets abroad, while about 20 million euros will be invested in Spain.

Neinver advances by leaps and bounds among sales rumors. The company specialized in developing and managing outlets plans to invest up to 350 million euros between 2019 and 2022 to grow in Europe. Specifically, the Losantos family company will allocate between 225 million and 250 million euros to the promotion of two new centers in Europe. Between 80 million and 100 million additional will be invested in the reform of existing centers.

The company led by Daniel Losantos estimates that 80% of the renovation budget will go to the improvement of shopping centers located in Europe and the remaining 20%, equivalent to approximately twenty million euros, will be invested in Spain.

In the country, the company manages 23 complexes and adds an area of ​​540,000 square meters. Of these, five centers are owned, operated under the brand The Style Outlets and distributed between Madrid (Las Rozas, San Sebastián de los Reyes and Getafe), A Coruña and Barcelona. In addition, it also has the commercial parks of Madrid in Alegra and Nassica.

Outside Spain, Neinver is present in five other European countries: France, Germany, Italy, Poland and the Netherlands. To expand its presence in Europe, the company plans to invest up to 250 million euros in two projects. One of them will be located in Amsterdam and will have an area of ​​19,000 square meters. The center is already under development and is expected to open its doors in autumn 2020.

The second project, which is expected to open in 2021, will be located in the Alps, on the border between France and Switzerland, and will have an area of ​​20,000 square meters. The company does not rule out also investing in Spain, although it will depend on market opportunities.

The investment plan runs parallel to the sale rumors of Neinver, a process that the property denies. "We are not in any sales process," says the company's CEO, Carlos González, to EjePrime. "Rumors respond to the sale of the company's logistics division," he adds.

In December of last year, Neinver sold its portfolio of logistics assets to Blackstone for 300 million euros. The portfolio included 55 assets and 162,000 square meters, spread across 26 Spanish provinces.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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