Friday, July 27, 2007

Martifer enters shopping centre market in Portugal, Poland and Romania

LISBON (Thomson Financial) - Martifer SGPS has acquired a 60 pct stake in Portugal's largest independent shopping centre management company Global Shopping for 300,000 eur, said Jornal de Negocios, citing Martifer's CEO Carlos Martins.

In the interview, Martins said that the Global Shopping acquisition will give Martifer "an experienced team to develop the projects we have in this area for Portugal, Poland and Romania".

Global Shopping's activity will not be restricted to Martifer's developments and will be open to other projects, said Martins.

According to the report, Mota-Engil SGPS affiliate Martifer has already invested 500 mln eur in property developments, including shopping centres, retail parks, and logistics centres, and is currently eyeing opportunities in Spain and Eastern Europe.

Global Shopping manages four shopping centres in Portugal covering 100,0OO square metres, and is responsible for sales in another three.

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