Net income growth and momentum in data centres

We closed an exceptional year, with solid growth in net income and strong operational momentum in data centres, which was reflected in valuations.

In 2025, our key milestones were:

– Data Centres: Strong growth with the leasing of an additional 66 MW. This completed occupancy of Phase 1 and the first building of Phase 2, which is still under construction.

– Offices: We reached record occupancy of 94.2% with excellent performance in Madrid and Lisbon.

–  Logistics: We continued to advance, with a +1.5% increase in comparable rents and a strong increase in renewals (+5.8%).

– Shopping Centres: Occupancy reached a historic high of 97% and the effort rate fell to a historic low of 11.0%.