Klepierre secures full control of Aqua Portimão in €59M Portuguese deal
Klepierre, Europe’s largest shopping centre operator, has completed a major acquisition in Portugal. The company bought the remaining 50% stake in Aqua Portimão for €59 million, taking full ownership of the site. This move follows strong financial results in early 2026, with net revenue rising by 2.8% to nearly €270 million.
The deal was finalised on April 16, with Klepierre purchasing the stake from Generali. The company expects the acquisition to yield a single-digit return within its first year. Aqua Portimão has seen sales jump by 33% over the past three years, making it a key asset in Klepierre’s Portuguese portfolio.
Klepierre’s overall performance in 2026 has been positive. Retail sales across its shopping centres grew by 4.4% compared to the previous year. In Portugal alone, sales at its properties rose by over 5%. The company now fully owns three major centres in the country: Aqua Portimão, Espaço Guimarães, and Parque Nascente. With a total portfolio valued at €21.2 billion in 2025, Klepierre continues to expand its presence in Europe. The latest acquisition strengthens its position in Portugal, where it has seen consistent growth in footfall and revenue.
The €59 million deal gives Klepierre full control of Aqua Portimão, a high-performing shopping centre. The company’s early 2026 results show steady growth, with net revenue and retail sales both increasing. Analysts will watch how the acquisition impacts future returns and market expansion.
