Integrated management model
“One of the main differences between us and the competition is our integrated management model. Most shopping center developers usually sell after completing their project; there is no continuity with the management. We generally carry out the construction works and after opening the center we keep it. So we are obliged to continuity rather than opening, selling, and making our departure. This is very important because our tenants have known our company for 25-30 years, and we have the fidelity of these clients.
Need to adapt
“At present, as you know, Spain is going through a difficult economic situation. Although the footfall in the shopping centers has kept stable or even increased, sales are decreasing.
“Luxury shops, with a low presence in our shopping centers, don’t seem to suffer any crisis. And neither do low prices shops, which show high activity. But we are obliged to help some mid-range shops, which have more difficulties in sales. On the other hand, financing new openings has almost stopped now.”