Wednesday, 11 February 2026
The shopping centre portfolio managed by Sonae Sierra in Germany recorded higher occupancy, leasing activity and retail turnover in 2025, according to company data. As of 31 December 2025, the 19 centres managed on behalf of third-party owners were almost 95 percent let, with annual footfall up 1 percent and tenant turnover increasing by more than 6 percent year-on-year.
During the year, Sonae Sierra signed a total of 360 leases and renewals covering 108,400 sqm across the portfolio. This included 172 new leases for approximately 35,000 sqm and 188 renewals totalling about 73,400 sqm.
In October 2025, Sonae Sierra completed the acquisition of REM, the management division of Unibail-Rodamco-Westfield in Germany. Following the transaction, the company became the second-largest manager of third-party shopping centres in the country. The German portfolio now comprises 19 centres with a combined gross leasable area of around 1 million sqm and annual visitor numbers exceeding 130 million, according to the company.
“The encouraging figures show that we are managing a very efficient and stable portfolio in Germany. We will keep all centres on track for success in line with the owners’ business objectives, manage them in a value-adding manner and further leverage their potential,” said Christine Hager, Director of Property Management in Germany and member of the management board at Sonae Sierra. “The positive development of the locations confirms once again that the acquisition of the management division was the right step to implement our expansion strategy and take a leading market position.”
Dirk von der Ahé, Head of Leasing in Germany at Sonae Sierra, added: “Our locations are attractive to retailers and in high demand. Our innovative leasing concepts, our experience and creativity in developing individual solutions for the needs of tenants and owners have led to leasing successes. We will continue to enhance the quality of the visitor experience in the centres through strong leasing and utilisation concepts, thereby creating added value for tenants, owners and customers.”
Following the integration of REM, Sonae Sierra employs around 250 staff in Germany and provides centre and property management services including operations, leasing, marketing and project management. The expanded portfolio includes centres such as Riem Arcaden and Pasing Arcaden in Munich, Spandau Arcaden in Berlin, Köln Arcaden, Düsseldorf Arcaden and Breuningerland in Sindelfingen and Ludwigsburg.
Photo: Christine Hager, Director of Property Management in Germany and member of the management board at Sonae Sierra
