UNIBAIL stops sales plans: Shopping centers in Germany affected!

UNIBAIL stops sales plans: Shopping centers in Germany affected!

Unibail-Rodamco-Westfield (URW) plans to withdraw from a large part of its Germany business to repay his debts. The real estate group would like to sell some German shopping centers. The offer included the shopping centers Minto in Mönchengladbach, Palais Vest in Recklinghausen and Höfe am Brühl in Leipzig. In the first sales attempt, however, no buyers were found for the package, and the sale of the German shopping center portfolio is difficult, such as Textile industry reported.

The withdrawal of Urw from the German market has far -reaching consequences, especially for several shopping centers in Berlin. The affected locations include the Spandau Arcaden, Neukölln Arcaden and the center of Berlin on Alexanderplatz. In addition, the shopping centers mentioned in Mönchengladbach, Recklinghausen and Leipzig are also part of the sales considerations. There is uncertainty with regard to the future administration of these locations, since Urw is only partially involved, such as development city supplemented.

focus on premium objects

Urw plans to concentrate on a few premium objects in the future, especially on locations that are operated under the Westfield brand. This strategic realignment means that Germany loses importance in the company's portfolio. In 2024, visitor numbers fell by 1.4 percent, while tenant sales decreased by 0.4 percent. In contrast, URW in Spain experienced an increase in tenant sales by 13.6 percent and an increase in visitor numbers by 6.5 percent. The development was also positive in France, with 4.3 percent more visitors.

Another reason for the withdrawal is the high investment amount for the Hamburg overseas quarters, which is now 2.5 billion euros. The costs have increased by 190 million euros, including due to increased construction costs and compensation payments to tenants. In order to reduce the financial burden, URW plans to sell the locations mentioned, while they want to focus on strategically relevant shopping centers.

The German market in change

The challenges for URW in the German market are remarkable. With every non -completed sales process, it becomes clearer how difficult it is to sell shopping centers in a declining market environment. It remains to be seen whether the planned sales can be realized in the near future. What is certain is that Urw is longing for a strategic realignment and the relevance of the German market for the company.