Sonae Sierra to expand European Footprint with German Shopping Center acquisition
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Düsseldorf, Germany – August 20, 2025 – Sonae Sierra, the real estate arm of the Sonae Group, has reached an agreement to acquire Unibail-rodamco-Westfield’s German business unit dedicated to third-party shopping center management, URW REM. This strategic move will considerably expand Sonae sierra’s European portfolio and strengthen its position in the german market.
Strategic Acquisition Details
The acquisition of URW REM, headquartered in Düsseldorf, will add a team of 175 professionals and a portfolio of a dozen shopping centers, totaling over 680,000 square meters of leasable gross area, to Sonae Sierra’s holdings. URW REM is recognized as a leading business management service provider in Germany, offering comprehensive asset management solutions including project management, marketing, and leasing.
“This agreement is an importent milestone in our international growth journey,” stated Fernando Oliveira, CEO of Sonae Sierra. “We are committed to the German market and the expansion of our local presence.”
claudia Azevedo, CEO of the group’s subsidiary, added, “By combining Sonae Sierra’s experience with the recognized capabilities of the URW REM team, we will continue to support the sustainable development of shopping centers, ensuring the creation of value for communities, tenants, partners, and investors.”
Did You Know? Sonae Sierra currently manages over 500 real estate assets across Portugal, Spain, Germany, Italy, Morocco, Romania, and Kosovo.
Expanding a Robust portfolio
This acquisition reinforces Sonae Sierra’s strategy of providing high-quality real estate services to third parties, leveraging its 35 years of experience in the industry. With this expansion, Sonae Sierra now manages a portfolio exceeding 2.9 million square meters of leasable gross area. The company operates in 12 markets: Portugal, Spain, Germany, Greece, Italy, Slovakia, Kosovo, Romania, Brazil, Peru, and Colombia, with projects completed in over 35 countries.
Sonae Sierra employs approximately 1,000 professionals and offers complete real estate management services, utilizing technological platforms to maximize efficiency and performance across operations, leasing, marketing, sustainability, architecture, and project management.
Key Acquisition Data
| Metric | Value |
|---|---|
| Acquiring Company | Sonae Sierra |
| Seller | Unibail-Rodamco-Westfield (URW) |
| Acquired Entity | URW REM (German Business Unit) |
| URW REM Team Size | 175 Professionals |
| Total Leasable Area | 680,000+ Square Meters |
The transaction is pending approval from relevant competition authorities.
Pro Tip: Understanding the nuances of local real estate markets is crucial for successful international expansion, as highlighted in a report by the Urban Land institute [1].
What impact will this acquisition have on the competitive landscape of the German shopping center market? And how will Sonae Sierra integrate URW REM’s existing operations and team?
The Evolving Landscape of Retail real Estate
The retail real estate sector is undergoing a notable change, driven by the rise of e-commerce and changing consumer preferences. Shopping centers are increasingly focusing on experiential retail, incorporating entertainment, dining, and community spaces to attract visitors. Successful operators are also prioritizing sustainability and incorporating smart technologies to enhance efficiency and customer experience. This trend is supported by research from Deloitte [2], which emphasizes the importance of adaptability in the retail sector.
Frequently Asked Questions
- What is Sonae Sierra? Sonae Sierra is the real estate arm of the Sonae Group,specializing in shopping center development and management.
- Who is Unibail-Rodamco-Westfield? Unibail-Rodamco-Westfield is a global real estate company specializing in shopping centers.
- What is URW REM? URW REM is Unibail-Rodamco-Westfield’s German business unit dedicated to managing third-party shopping centers.
- Why is Sonae Sierra acquiring URW REM? To expand its European portfolio and strengthen its presence in the German market.
- What are the benefits of this acquisition? Increased portfolio size, access to a skilled team, and enhanced service offerings.
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