Vukile Acquires 50% Stake in Splau Shopping Centre

Vukile Property Fund, through its 99.7%-owned subsidiary Vukile Property Fund===Castellana Properties, has acquired a 50% stake in Splau Shopping Centre in Spain===Barcelona, Spain, for €175 million. This transaction, valuing the entire asset at €350 million, forms a 50:50 joint venture with Unibail-Rodamco-Westfield, which will continue to manage the centre's day-to-day operations. The acquisition is part of Vukile's capital-recycling program in Spain, focusing on dominant, high-performing retail assets. This strategy has also involved the sale of nine retail parks and the acquisition of Berceo and Islazul shopping centres. The Splau Shopping Centre, strategically located in Cornellà de Llobregat, features 151 stores, including major brands like Inditex, and offers significant leisure attractions. This move strengthens Vukile Property Fund===Castellana Properties' Iberian portfolio, which now comprises 15 assets across Spain and Portugal with a total value approaching €2.2 billion, and is expected to be earnings-accretive.