• Just over a year after the company’s entry into Portugal (October 2024), each of the four assets recorded historic footfall records in 2025.

• Taken together, the four centres attracted more than 26 million visits, over 2% more than in 2024, while combined sales grew by 3% year on year.

• These centres generate close to 4,000 direct jobs in total, in addition to all the indirect employment arising from their activity.

• Castellana Properties has strengthened its organisational structure with the creation of a dedicated in-house team in Portugal to support asset performance through a closer, more specialised management approach aligned with the group’s strategic objectives.

Castellana Properties, a listed company specialising in the acquisition and management of shopping centres and retail parks in Spain and Portugal, has just announced record footfall figures at each of the four shopping centres it fully manages in Portugal: RioSul, LoureShopping, 8ª Avenida and Forum Madeira. Each of the four centres individually recorded the highest footfall in their history and, taken together, the four assets managed by Castellana Properties attracted more than 26 million visits in 2025, over 2% more than the previous year. This performance reflects the effectiveness of the company’s active management and the continued appeal of these destinations to Portuguese consumers.

The company’s strategic commitment to Portugal began in October 2024 with the acquisition of RioSul, LoureShopping and 8ª Avenida, involving an investment of €176.5 million. Subsequently, in April 2025, the company acquired Forum Madeira in Funchal. During 2025, RioSul was the shopping centre that recorded the highest year-on-year footfall growth (+4.8%), surpassing 8.1 million visits. LoureShopping and 8ª Avenida exceeded 6.2 million visits, while Forum Madeira approached 6 million visits, consolidating its leading position on the island of Madeira.

Similarly, combined sales increased by 3% compared to 2024, with LoureShopping leading growth at +3.75%. In addition, these shopping centres are positioned as economic and employment drivers in their respective regions, generating around 4,000 direct jobs in total across the four centres. This figure is complemented by the thousands of indirect jobs created through the activity of the various operators present in the shopping centres.

Alfonso Brunet, CEO of Castellana Properties, underlines the importance of these results, stating: “Portugal has become a highly relevant market for Castellana Properties, and the footfall records achieved, together with the increase in sales, are the result of active and ongoing management that not only attracts visitors but also creates employment and value for the communities in which we operate. We transform retail spaces into hubs of life, employment and wellbeing.”

Furthermore, between April and September 2025, the company maintained a benchmark occupancy rate of 98.9% in Portugal. Commercial momentum was also evident through the signing of 44 lease agreements (including 18 new openings), covering a total area of 4,884 sqm.

These footfall figures have been strongly supported by the initiatives promoted by Castellana Properties within its Portuguese shopping centres, energising different regions through social, cultural and entertainment campaigns. The company also operates innovative loyalty programmes that encourage direct interaction with visitors, delivering a proven direct impact and, in just one year since their launch, boasting more than 54,000 registered members across all Portuguese centres.

Strengthening of the organisational structure in Portugal

As part of its growth and consolidation in the Portuguese market, Castellana Properties has strengthened its organisational structure through the creation of a dedicated in-house team for Portugal. This decision responds to the need to support the company’s positive momentum and ensure optimal asset performance through a closer, more specialised management approach aligned with the group’s strategic objectives.

This reinforcement of human resources has been implemented through the creation of new roles specifically for the Portuguese market, as well as the incorporation of specialised profiles in Asset Management and Leasing. In this context, Castellana Properties has announced the appointment of Juan Palomo as Portfolio Asset Manager for Portugal. In this role, he will continue to lead asset management operations in Spain while assuming responsibility for coordinating and leading the team in Portugal. With extensive experience in the management of shopping centres such as Vallsur, Los Arcos, El Faro, Puerta Europa and Bahía Sur, he will also oversee the Leasing and Legal functions in the country, strengthening consistency and efficiency in management across both markets.