Madrid, October 10, 2019 - Granaita, shopping park owned by Castellana Properties, has increased its inflow by 13% after the renovation carried out by the Spanish REIT in the former Kinépolis shopping centre and Alameda Shopping Centre, which together became the largest shopping and leisure park in the province of Granada. July was the month with the highest number of visits, with 21% more than in 2018.

After an investment of €5.5 M, Castellana Properties has managed to improve and optimise the commercial mix of the park, attracting new tenants demanded by customers and its occupancy rate has also increased from 48% to over 98%.

On the occasion of its first 6 months of activity after the renovation, in which more than 1,700 jobs were consolidated, a survey was carried out among the park's visitors. Thus, 52.6% assure that what they appreciate most is the new offer in fashion, leisure and restaurants, followed by new services such as the children's playground and the new gallery design. In addition, 99.1% of those surveyed stated that they were very satisfied with the work carried out and a 77% confirmed that they had increased their visits to the centre after its opening last March.

One of the main objectives of Castellana Properties is its firm commitment to transform shopping centres into experience areas. Therefore, Granaita organises free leisure activities for all audiences with different themes every weekend in order to offer a value-added service to its visitors. A very high level of acceptance is shown in influx figures, which have increased by almost 22% on Saturdays and Sundays in July, August and September compared to the same period last year. When asked about leisure activities, 75% of the centre's visitors said that they were aware of the initiatives carried out in Granaita and 99.2% were very satisfied with the activities organised.

Among the renovations carried out by Castellana Properties, a company specialized in the acquisition, management and refurbishment of real estate assets in the retail sector, there have been interior remodelings that give greater luminosity and modernity to the complex. Also new areas have been created, such as a new Children's Club inside the gallery or a large square where events can be held with a new play area. In addition, among the modifications made, the façades of the main buildings were painted with a colour-coding system with the aim of improving mobility and orientation within the park. Improvements have been made to the pavement that facilitates accessibility to the stores and new outdoor terraces have been created for restaurants. In addition, 250 trees were planted in the first phase, creating a more natural and pleasant environment in order to have walk and enjoy, as well as contributing to reduce environmental pollution in Granada and its metropolitan belt. Another important development is the new car park access, which has helped to make it easier for vehicles to enter and exit the park. This way, traffic has been distributed between the two roundabouts that currently exist in the area to facilitate access to Granaita.

Alfonso Brunet, CEO of Castellana Properties, stated, "In a time of transformation, it is important to know how to re-invent oneself and improve services adapted to new preferences to support the local community. That is why we are betting on the renovation of Granaita, with the aim of expanding the commercial and leisure offer in the province with services adapted to the demands and needs of the people of Granada. In a customer-focused way, we started the refurbishment project by asking the people of Granada exactly what they wanted. The results of the survey of nearly 600 clients in the park show that our initiative has been very well received, with 98.5% saying that they would recommend the park to friends and family. We are satisfied with the acceptance that Granaita has had in the area and we will continue to strengthen our presence in the province”.

About Castellana Properties:

Castellana Properties is a Listed Company in the real estate sector focusing on the acquisition, management and refurbishment of urban real estate for lease. The company, which is specialized in the retail sector, owns 16 shopping centres and parks in Spain as well and two office buildings with a gross rentable area of 372,892 m². With this acquisition, Castellana Properties' assets worth more than 1,000 million euros. In addition, the company's good track record has been recognised with the EPRA Silver Award 2019, which aims to recognise and praise the efforts of real estate companies that have successfully adopted the EPRA (European Real Estate Association) guidelines in the field of financial and non-financial information.

More information at: www.castellanasocimi.es