Castellana Properties shopping malls in Portugal see footfall up 2.7% and sales up 4.1%

Castellana Properties, a listed company specialising in the acquisition and management of shopping centers in the Iberian Peninsula, published its annual results for the last fiscal year, marked by the transformation and consolidation of its leadership in the Portuguese market.

Castellana Properties owns five shopping centers in Portugal, marking the company’s first full year with all assets in its current portfolio located in Portugal: 8ª Avenida, Alegro Sintra, LoureShopping, RioSul, and Forum Madeira.

In just over a year and a half, the company managed to consolidate its portfolio in record time, with a very significant improvement in key operational indicators, achieving record highs in visitor numbers and strengthening both sales and asset quality.

Operational performance in Portugal maintained a very positive trajectory throughout the 2026 fiscal year (April 2025 to March 2026), with visitor numbers in Portugal growing by 2.7% and sales increasing by 4.1% compared to the same period of the previous year.

Forum Madeira stood out exceptionally with sales growth close to 8%, reflecting the strong attractiveness of the asset and the solidity of consumer demand. Furthermore, regarding visitor numbers, the four centers directly managed by Castellana Properties closed 2025 with a record high in visits, both individually and collectively.

Looking at the figures prior to Castellana Properties’ acquisition of these centers, visitor numbers increased to 35.4 million, 5.4% above pre-acquisition levels, and sales increased by 7.8%.

The occupancy rate reached 99.1% and the rent collection rate stood at 97.4%. During this fiscal year, 78 contracts were signed nationwide, of which 45 are renewals and 33 are new contracts, covering a Gross Leasable Area (GLA) of 10,026 m².

New rents contracted in Portugal amounted to €4.3 million (€2.2 million in renewals and €2.1 million in new contracts). This dynamism translated into an average rent increase of 15.34% nationwide.

At the level of commercial categories, the greatest growth was seen in the Fashion segment (41.1%), followed by Health and Beauty (18.6%), Restaurants (11.4%) and Services (7.9%).

Globally, the company achieved a net profit of €167.8 million, an 85% increase compared to the previous year. This result was driven by growth in Gross Rental Income (GRI) and a NOI of €116.3 million. In terms of profitability, EBITDA stood at €100.9 million, marking an increase of over 63%.

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