Grupo Lar eyes Portuguese shopping mall investments

Spanish real estate group, Grupo Lar, is actively seeking to invest in shopping malls in Portugal, according to CEO José Manuel Llovet.

Jose Manuel Llovet - CEO of Grupo Lar

Spanish real estate group, Grupo Lar, is actively seeking to invest in shopping malls in Portugal, according to CEO José Manuel Llovet.
Speaking during a real estate conference, he said there is strong potential in the Portuguese market due to limited high street retail supply.
According to Llovet, Grupo Lar plans to partner with a local entity for these investments, leveraging its Madrid base to attract institutional investors. He emphasized the Iberian Peninsula's investment appeal, highlighting Grupo Lar's potential, based in Madrid, to connect institutional investors with Portuguese opportunities.
Grupo Lar’s interest follows several recent acquisitions of Portuguese malls by international players.
Last year, Spanish REIT Castellana Properties acquired RioSul Shopping, LoureShopping, and 8ª Avenida for €176.5 mln and purchased a 50% stake in Alegro Sintra for €46.4 mln. Additionally, it acquired Forum Madeira for €63.3 mln in April 2025.
South Africa's Lighthouse Properties entered the Portuguese market by purchasing Alegro Montijo from Nhood and Ceetrus for around €180 mln.
In April 2025, Trajano Iberia, managed by DWS, sold Nosso Douro Shopping, in Vila Real for €79 mln to US investment fund L Catterton.
Grupo Lar recently secured a €191.5 mln green loan to refinance its 10-property Spanish residential rental portfolio managed by Praemia REIM, spanning key cities like Madrid, Barcelona, and Valencia. Major financial institutions including BNP Paribas, Crédit Agricole CIB, Societe Generale, BBVA, and Santander backed the deal, highlighting the robust rental market and investor confidence in high-quality, sustainable housing platforms.