The company intends to have shares admitted to the Spanish and Portuguese markets by the end of this year.
Merlin Properties will be listed on the national stock exchange in the coming months. The Sociedad Anónima Cotizada de Inversión en el Mercado Inmobiliario (SOCIMI) in Spain is already in the process of dual listing, intending to have shares admitted to the Spanish and Portuguese markets by the end of this year.
The intention to enter the Portuguese capital market had already been advanced at the beginning of the summer, but has now been confirmed by the head of investor relations at Merlin Properties, Inés Arellano. But instead of putting a SIGI on the stock exchange, it is about the admission to trading in the Portuguese market of securities that are already listed in Madrid.
The Spanish SOCIMI thus rejects the idea of being the first to create an Investment and Management Companies and Real Estate (SIGI), a vehicle created by the Portuguese Government to attract investment to the national real estate market at a time when prices are rising.
In Portugal, Merlin’s assets weigh about 10% of the portfolio, with a total value of 43 million euros – the Lisbon North Logistics Platform, two shopping centres and eight office assets.