NEINVER now the second largest outlet operator in Europe (EUR)

According to the latest ranking published by the International Council of Shopping Centers (ICSC), NEINVER is the second largest outlet operator in Europe in terms of square meters of gross leasable area (GLA), and is the largest, based on the total number of centers managed.

The Company currently manages 11 outlet centres in Europe, with a total of close to 223,000 square metres of GLA. NEINVER is the market leader in three of the five European markets in which it has a presence. Specifically, it is the largest outlet operator in Spain and Poland as FACTORY, and in Germany as THE STYLE OUTLETS.

In Spain, the Company manages four centres with a total of 75,350 square metres (m2) of GLA, and in Poland it has three centres with a total GLA of 42,200 m2. In Germany, the Company manages the country's largest outlet centre with a GLA of 23,585 m2. The other countries where it has a presence are Portugal and Italy. In Portugal it has one centre (28,750 m2 of GLA) and in Italy it has two, with a total GLA of 52,990 m2.

The Company's outlet centres, managed by multi-disciplinary teams, had 27 million visitors in 2008. The forecast for 2009 is 30 million visitors, (10% growth).

The International Council of Shopping Centers (ICSC), with over 60,000 members from more than 80 countries, is one of the principal trade associations in the shopping centre industry. Each year, ICSC publishes the ranking table of the largest outlet centre operators in Europe, based on the square metres of gross leasable area and the total number of centres managed.

International Council of Shopping Centers Ranking: This year NEINVER celebrates its 40th anniversary. Over the last four decades, it has consolidated its values and international leadership, despite the current economic situation, through a long-term strategy linked to satisfying the operators' needs.

With a team of professionals in each country and having developed its own management, sales and marketing model, the Company not only contributes to consolidating its customers' growth strategies, but is also strengthening the quality of its projects. NEINVER's international standing is thus a value platform for the operators.

Expansion in Europe
In the last five years, NEINVER has grown from managing 50,000 square meters of GLA in the retail sector to seven times that figure, and has now reached almost 350,000 square metres of GLA. NEINVER has thus consolidated its position on the continent, and become the second largest operator in Europe and the market leader in Spain, Poland and Germany. It is also the company that manages the most outlet centers in Europe.

Having opened a centre in the German market, the Company continues to expand in Europe, and is currently developing around 110,500 square meters of GLA in its outlet centers.

NEINVER will invest a total of 500 million Euros in Europe, in the retail sector. It currently manages more than 348,700 m2 of GLA in shopping centres and outlets, about 1,300 shops and over 700 of the top international brands.

It also has about 267,000 square metres of GLA under development. Taken together with the current portfolio, NEINVER will be managing more than 615,000 m2 of GLA in the retail sector within 30 months.

NEINVER CEO, Manuel Lagares, states: "Our business strategy is now focussed on Germany and France. These are the two largest European economies, and the ones that are most successful in coming out of the recession. They also have the lowest density of outlet centres per 1000 inhabitants. The potential for growth in this commercial assets sector is therefore greater".

Both these characteristics make them key countries for the operators, and, together with NEINVER's aim to consolidate its position in the Italian market, they are therefore top priorities in the Company's growth strategy for the coming years.

Ongoing projects
NEINVER has currently ten projects running in Europe. In Spain, it is developing FACTORY LA CORUÑA, which is expected to open at the end of 2010, thus becoming the Company'

Related News