El Corte Inglés increases the value of its real estate portfolio to €15.716 billion
What: El Corte Inglés reports 1.39% growth in real estate portfolio value to EUR 15.716 billion, while generating EUR 83 million from ‘Space Marketing’ initiatives.
Why it is important: The growth in both portfolio value and ‘Space Marketing’ revenue demonstrates how traditional retailers can effectively monetise their real estate assets while maintaining core retail operations.
El Corte Inglés has strengthened its position in the real estate sector with its portfolio now valued at EUR 15.716 billion, representing a 1.39% increase from the previous year's EUR 15.500 billion. The company's retail network encompasses 70 department stores in Spain and two in Portugal, complemented by various retail formats including hypermarkets, supermarkets, and Sfera stores. The ‘Space Marketing’ segment, which includes real estate leasing and third-party commercial relationships, contributed EUR 83 million to the group's EUR 14.786 billion revenue, marking an 11.5% increase year-on-year. The company maintains an investment portfolio valued at EUR 538.2 million, showing a 6.2% growth despite the strategic sale of 40 Supercor stores to Carrefour. This transaction generated a capital gain of EUR 43.08 million, demonstrating effective portfolio management. The company's successful divestment strategy has generated EUR 660 million over the past four years through strategic asset sales, enabling a reduction in liabilities to EUR 2 billion.
IADS Notes: El Corte Inglés's latest real estate portfolio valuation of EUR 15.716 billion reflects its strategic approach to asset management. In March 2025, the company demonstrated its commitment to optimizing existing assets by investing EUR 428 million in renovating 25 locations, while simultaneously showing prudent development decisions, as seen in July 2025 with the postponement of its Castellana office project despite favorable market conditions. This balanced approach has yielded positive results, with June 2025 financial reports showing robust performance across retail segments, including an 11.5% increase in Space Marketing revenue to EUR 83 million, validating the company's strategy of maximizing value from existing assets while carefully managing new developments.
