June 24, 2021

Merlin shuffles the creation of a socimi in Portugal

Merlin shuffles the creation of a socimi in Portugal


Merlin is looking to strengthen its presence in Portugal by creating a socimi or quoting in the neighboring country. This was stated this Wednesday, after the shareholders meeting of the firm, the CEO of the real estate company, Ismael Clemente, who has also ruled out "relocating" his activity in Spain: "It could be interesting, but it's not serious." the manager has indicated.

According to the calculations of the company, this socimi could be created before the end of the year. Regarding the option to quote, Merlin would enter directly into the PSI20 if he finally takes this step. "This would help us achieve visibility," Clemente pointed out.

Speaking to the media after the shareholders meeting, the CEO of the socimi explained that the Portuguese market has matured very quickly, which is limiting the opportunities. "Many funds have appeared, which has saturated the market," he said.

Even so, Gracious highlighted the growth experienced by the real estate. Especially as far as shareholders are concerned. "For the first time we have exceeded 10,000 minority. When we started trading, we had 700 shareholders, now we are 14,000, "the director praised.

And is that Marline is opening new lines of business that are awakening interest in the market. One of them, as detailed in the meeting on Wednesday, is related to the conversion of parking of the office buildings in Madrid and Barcelona in logistics centers during the night.

The socimi, as detailed by Europa Press, plans to offer these spaces to logistics operators at night, between 11.00 and 7.30, to use them as centers for the so-called "last mile". To articulate this initiative, the company has signed agreements with logistics companies such as Dachser, CityLog, FM Logistic or GLS.

The impact of Neinor

The company also plans to invest 309 million in developing logistics warehouses and 1,000 million over the next four years in converting assets such as offices and shopping centers. With this initiative, which will have more weight than the purchase of buildings, the company has the forecast to enter 650 million euros for rentals in 2022.

Clemente has ruled out that this road map can be altered by the general elections. «It does not condition us, we are going to continue working». Yes, the CEO of the real estate giant has recognized that the Spanish economy has "structural problems" that can lead to a break in the activity.

In addition, the director has referred to the stock market crash these days by Neinor, which is being affected by a cut in its delivery forecasts. «There may be a contagious effect in the market. In fact these days our action is being affected by it, "Clemente explained.


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