The SIERRA Fund was set up. This is a Pan-European real estate investment fund with capital of €1.08 billion. Net profit of €208,7million, an increase of 45% % over 2002, EBITDA of €98,1 million, NAV (Net Asset Value) of €948,015 million, NAV per stock €29,16, growth of 5,4%.
Sonae Imobiliária purchased 4,986 million of it’s own shares, to the value of € 150 million, and the correspondent capital reduction of Sonae Imobiliária SGPS took place. Owns or co-owns 30 properties in operation with total GLA of 1,202,637 m2, an increase of 5,5% over the previous year and with a open market value(OMV) of €2,868 billion. 1,563,666 m2 of Gross Lettable Area (GLA( under management, 5,400 shop rental contracts under management, 382 million visitors to shopping centres under management, 17 projects in course of development in five countries.
Sonae Imobiliária Assets- A dynamic management of assets owned
- Set up Sonae Imobiliária European Retail Real Estate Asset Holdings B.V.