Shopping centre specialist Sonae Sierra has signed an agreement with Doughty Hanson & Co Real Estate, the new owner of Plaza Éboli in Pinto, Madrid and El Rosal in Ponferrada, León to manage the two shopping centres for the next four years with the objective of increasing the value of both assets. Through this contract, Sonae Sierra will provide management and leasing services for Plaza Éboli, with 31,068 m2 of total commercial area including 95 shops and El Rosal, with 50,653 m2 of gross lettable area and 144 shops.

Doughty Hanson & Co Real Estate acquired the malls last week for EUR 120 mln.

'We consider this contract the basis of a strategic agreement for the development of future business together,' said Juan Barba, the Madrid-based principal for Doughty Hanson & Co Real Estate.

With this agreement, Sonae Sierra has reinforced its strategy of providing services to third parties in Spain. The company is one of the most important shopping centre operators in Spain, where it owns nine shopping centres and provides services to third parties through the management of five shopping centres and leasing services for four other centres.