Portuguese shopping centre developer Sonae Sierra has announced plans to widen its focus to other segments beyond shopping centres.
The new strategy, named ‘Open mind, greater value’, is part of the ‘company’s mission to actively contribute to urban regeneration and the creation of the cities of the future’, the group said in a statement.
‘Our new business strategy includes a renewed ambition for growth and requires the company to be more open to new market sectors, with a more comprehensive and flexible positioning. ‘Open mind’ means that. With this open-mindedness, we want to generate more economic, environmental and social value ("Greater value"), through the creation, development and management of spaces for the cities of the future, with a better and more sustainable quality of life for people and communities,’ commented Inês Drummond Borges, Chief Transformation Officer of Sierra.
Under the new strategy, the company will also seek to create long term partnerships with key investors, institutions and professionals. In fact, the expansion of the investment fund management business, is one of the four main pillars of Sonae Sierra’s new strategic focus.
Also, the company will be looking to strengthen its real estate services offer, in line with new concepts in city living, through Reify., Sierra’s business unit focused on delivering multidisciplinary solutions to create, change or boost spaces.
Sonae Sierra has six development projects and one expansion currently underway and approximately €8 bn in assets under management.
The company also manages 10 investment vehicles for institutional or retail investors, worth €4.8 bn.
