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Merlin Rules out creating a Socimi in Portugal given the current laws

Merlin Properties is still thinking about its expansion into the Portuguese market, but the company has ruled out operating in the country under the Socimi regime, also dubbed SIGI in Spanish, at least for the time being, according to the newspaper Cinco Días.

Centro Comercial Almada Forum Lisboa Fuente Merlin 1
Almada Forum shopping centre in Lisbon, owned by Merlin. Source: Merlin.

Ismael Clemente, managing director of Merlin, explained during the ‘Iberian REIT’ seminar yesterday in Madrid that changes need to be made to the Portuguese legislation, such as incorporating the so-called European passport. “We will adopt the SIGI regime when the legislation changes, the second time around,” assured Ismael Clemente.


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