Lar España Real Estate SOCIMI S A : 05/03/2025 – LAR ESPAÑA increases final sales in its 12 shopping centers to 1,048 million euros in 2024, a 6.3% increase

Published: 2025-05-01 20:44:16 ET LRE.MC

Published on 05/01/2025 at 20:44

LAR ESPAÑA increases final sales in its 12 shopping centers to 1,048 million euros in 2024, a 6.3% increase

For the first time in its ten-year history, Lar España's nearly 1,000 retailers surpassed €1 billion in reported sales to end customers last year. The total number of visitors in 2024 increased by nearly two million, rising from 69.9 million in 2023 to the aforementioned 71.8 million visitors.

Lar España, Spanish REIT specialized in retail, is owned by Helios RE (Hines and Grupo Lar), leading real estate companies in their respective markets and leaders in the management of shopping centres and retail parks.

For Vanessa Gelado, board member of Lar España and Senior Managing Director - Country Head of Hines in Spain, "the growth in visits and final sales throughout 2024 confirms the exceptional quality of the twelve assets in our portfolio. They serve as an excellent foundation for the corporate boost that we intend to carry out in the short and medium term".

José Manuel Llovet, director of Lar España and CEO of Commercial Real Estate at Grupo Lar, adds: "the operational management of our centrers allows us to guarantee high footfall and high profitability for our tenants. We provide unique and dominant commercial mixes that attract and retain a growing number of end customers every year".

With a total leasable area of nearly half a million square meters, last year the SOCIMI maintained an average occupancy rate of 97% in 2024, a level considered almost full capacity within the industry.

The key sectors driving sales growth included fashion, food, dining, beauty, sports equipment, home goods, and health. The cinema sector remained stable, attracting around

1.6 million visitors.

Lar España´s portfolio comprises nine shopping centers: Lagoh (Seville), Albacenter (Albacete), Portal de la Marina (Ondara, Alicante), Ànecblau (Castelldefels, Barcelona), Gran Vía (Vigo), El Rosal (Ponferrada, León), As Termas (Lugo), Txingudi (Irún, Guipúzcoa) and Las Huertas (Palencia), and three retail parks: Abadía (Toledo), Vidanova Parc (Sagunto, Valencia) and Megapark (Baracaldo, Vizcaya).

LAR ESPAÑA Real Estate SOCIMI S.A. is a company owned by Helios RE (Hines and Grupo Lar) and focused in shopping centres and retail parks. It is the market leader in this segment, with an asset value of more than €1.3 billion and almost 500,000 square meters in operation.

https://www.larespana.com

Corporate address: [email protected]

Juan Carlos Burgos, Pablo Pardines, 91 56377 22 [email protected], [email protected].

Disclaimer

Lar España Real Estate SOCIMI SA published this content on May 03, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 02, 2025 at 00:43 UTC.