UK mall owner Intu Properties expects its Spanish asset portfolio to have grown to €2bn within the next few months. "After the 2008 recession, retail asset prices there were low and this prompted us to take up the opportunity. The economy is gaining traction and Spain’s recovery has been impressive. We will soon have a strong Spanish portfolio alongside our UK portfolio," said CEO David Fischel. Fischel, who spoke after the release of financial results for the year to December, said Intu had performed well over the period despite the Brexit vote. "In a year which will be remembered for its political turbulence, Intu is pleased to have recorded a strong set of results with 6% growth in underlying earnings per share, an increased dividend and stable property values, leaving net assets per share, diluted, adjusted, unchanged at 404p. "We ended the year with £922m of cash and available facilities, well-placed to pursue our pipeline of active management projects, development and acquisit...
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