10/05/2025
vukilepropfund Vukile is excited to announce its expansion into Portugal with a EUR 176 million investment in three prime shopping centres,
further growing its Iberian footprint. This acquisition aligns with our strategy and will deliver a strong cash-on-cash yield of 10% in Euros.
Laurence Rapp, CEO of Vukile, commented, "We have clearly signalled our confidence in the Iberian Peninsula and the good opportunities it holds. We are thrilled to capitalise on this opportunity in Portugal, extending and complementing the strong platform that Castellana has already established in Spain."
The portfolio includes two shopping centres in Lisbon-RioSul and Loures-and 8a Avenida in Porto, all with dominant market positions, great locations, and strong consumer bases. These assets enhance our Iberian portfolio, which will now represent 64% of Vukile's total assets, with over half of our property net operating income denominated in Euros.
Rapp adds, "Building on our successes in Spain, Castellana's robust and proven on-the-ground management capability makes this expansion a natural progression.
Vukile remains committed to its strategy in South Africa, Spain, and Portugal, continuing to pursue opportunities that are strategically aligned and financially rewarding.