Sonae Sierra, the international shopping centre specialist, has been ranked by Global Real Estate Sustainability Benchmark (GRESB) as the company with the most sustainable property funds in Europe and the third one worldwide.

GRESB Foundation is an initiative launched by some of the largest institutional investors, academic leaders and prominent members of the real estate sector.

Every year GRESB establishes a ranking of the property funds and companies of the real estate sector that are most committed to the environment. This year more than 340 property funds and companies, with real estate assets worth nearly $1 tln, have responded to a call by the GRESB Foundation to disclose information on environmental management and performance.

The ranking acknowledges Sonae Sierra's portfolio strategy in respect to sustainability, with a vision that encompasses environmental and social measures, as well as economic profitability.

Sonae Sierra promotes initiatives geared at saving resources which in turn entail a reduction of costs for the company, such as electricity and water.

Sonae Sierra owns 49 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil. Sonae Sierra also provides services to third parties in Cyprus, Serbia, Morocco and Columbia. At present, Sonae Sierra has five projects underway and six other new projects in different phases of development in Portugal, Italy, Germany, Greece, Romania and Brazil. Sonae Sierra manages a gross lettable area (GLA) of more than 2.2 million m2 with 8,500 tenants.