• Sales increased by 4.9% in Spain and 8.5% in Portugal in November 2024 compared to November 2023, with growth across all categories.

• In December, sales rose by 4.8% in Spain and 2.8% in Portugal compared to December 2023, led by the Home and Leisure categories, respectively.

The Spanish assets of Castellana Properties, a leading publicly traded company in the commercial real estate sector, experienced an increase in both foot traffic and visits during Black Friday and the holiday season compared to 2023. Specifically, its shopping centers saw a 17% rise in foot traffic during Black Friday week compared to the same week in 2023, with a 10.8% increase on Black Friday itself.

Additionally, during the holiday season (from December 1, 2024, to January 6, 2025), the shopping center portfolio recorded a 2.9% year-over-year increase. In December alone, foot traffic rose by 2.4% compared to the previous year.

Meanwhile, sales at shopping centers and retail parks in Spain grew by 4.9% in November 2024 compared to November 2023, with all categories experiencing growth. The Leisure sector stood out with a 21.1% increase, followed by Food & Beverage with a 12.2% rise, and Health & Beauty with a 7.3% increase.

In December, sales in shopping centers and retail parks increased by 4.8% compared to December 2023, led by the Home category with a 9.4% rise, followed by Leisure at 7.8%, and Sports & Adventure at 5.6%.

According to Julio García, Chief Operations Officer of Castellana Properties, “Black Friday and Christmas are key periods for the retail sector, where it is essential not only to meet but to exceed the expectations of our visitors. The response from customers has surpassed our expectations, once again demonstrating the importance of offering brands and experiences that align with the needs of each city where our shopping centers are located. Without a doubt, it has been a great year-end for Castellana Properties.”

Key Dates for the Portuguese Market

In October 2024, Castellana Properties made its first international expansion by acquiring three assets in Portugal: Riosul and LoureShopping in Lisbon and 8ªAvenida in Porto. In these three locations, foot traffic increased by 4.6% in November 2024 compared to the previous year, with a significant rise of 15.9% during Black Friday week and 21.2% on Black Friday itself. In December 2024, foot traffic across the Portuguese portfolio grew by 2.1% compared to December 2023.

Regarding sales, November saw an 8.5% year-over-year increase, with improvements across all categories. The Home sector led with a 17.5% rise, followed by Accessories at 12.9%, Electronics at 11%, and Fashion at 7.4%. In December, sales grew by 2.8%, driven by the Leisure category, which saw a 26.9% increase, followed by Home at 15.1%, Accessories at 5.8%, and Fashion at 5.0%.