LAR Group looks to enter shopping malls market in Portugal

The LAR Group, a Spanish company focused on real estate investment and management, is planning to expand its activity to Portugal in the shopping centres market according to its CEO José Manuel Llovet (Commercial Real Estate Sector Iberia).

According to El Economista Llovet believes “the shopping centres market is very strong in Portugal with a very limited high street offer in the country’s towns and cities.

“We’re looking for opportunities to invest in shopping centers in Portugal and as we’ve always done, we’re looking to do so with a partner,” he told the Spanish property news outlet.

“The Iberian peninsular is seen as very important for investment, and from Madrid we have the potential to be a bridge to help us attract institutional investors to begin investing in Portugal.”

In September, the Spanish group Castellana Properties purchased RioSul Shopping, LoureShopping, and 8.ª Avenida for €176.5 million.

It also purchased half of Alegro Sintra for €46.4 million and this year acquired Forum Madrid for €63.3 million.