In the first nine months of 2022, Sierra reinforced and diversified its portfolio of assets under management in Europe and Morocco, signing 23 new contracts and attracting new clients. Since the beginning of the year, the company has had 11 new contracts in the property management area and 12 in leasing, serving different client profiles, from institutional to private investors.
With more than three decades of experience in providing real estate management services, Sierra has been focusing on international growth covering different types of real estate assets. Since the beginning of the year, the growth in the provision of Property Management services has been significant in countries such as Germany, Spain, Italy, Poland, Portugal, Morocco and Kosovo.
Cristina Santos, Executive Director of Property Management at Sierra, says: “We are very pleased with the significant increase in new service contracts obtained in these first 9 months of the year. In addition to reinforcing our position as managers and leasing agents of Shopping Centres and Retail Parks, we would highlight the entry into new types of assets, such as mixed-use buildings and office leases, as well as the expansion of our business into new countries, and winning new clients.”
Today, Sierra manages a diversified portfolio of real estate assets in terms of geography and typology. During 2022, the occupancy rate of the shopping centres managed by the Company on the European continent and in Morocco remained at 97 percent, a result that demonstrates resilient and agile management following the recent pandemic period. Sierra is also responsible for managing 6,000 tenant contracts covering approximately 2.4 million sqm of GLA (Gross Leasable Area) in Europe and Morocco.
“We are committed to continuing to create differentiating and multichannel experiences in our assets under management, which generate more value for everyone: consumers, retailers and partners. This is without ever forgetting sustainability, a fundamental part of our DNA, and increasingly a concern of our customers. This is one of our priorities, in a world in constant evolution, which leads our teams to seek out best practices to provide the best answers to the needs of our customers and investors across the different geographies where we are present,” adds the executive director.