Royalty-free stock photograph created by Heidi Fin on Unsplash.
International Real Estate Investment
Malta-based real estate company Lighthouse Properties increased its distributable profit by 9,7% in the first half of 2026, thanks to the strong performance of its acquisitions in Spain. The company is reinforcing its commitment to the Iberian market with the relocation of its CEO, Justin Muller, from Amsterdam to Madrid.
The real estate investment firm Lighthouse Properties has shown an increase in 9,7 % in its distributable profits during the first six months of 2026, growth based on the contribution of its commercial assets in Spain. Recent acquisitions, such as the shopping center Espacio Mediterraneo, which has contributed a full semester of revenue for the first time, and Alcala MagnaThe two months of contributions have been key to these results. The group's total revenue increased by 10,7% to 77 millones de euros.
The portfolio's strong performance has led the company to improve its distribution forecast for fiscal year 2026, raising the estimate from 2,95 euro cents per share to 3 cents. At the operational level, sales from tenants in Spain, Portugal y Francia They grew by 7,9% and visitor numbers by 3%, maintaining a rent collection rate of 98,7%.
Spain, epicenter of the European strategy
The Spanish market, which makes up the majority of the portfolio of Lighthouse, is consolidating itself not only as the main driver of its results, but also as the nerve center of its strategy. Net rental income in Spain on a comparable basis (like-for-likeRevenues grew by 5,6%, while tenant sales soared by 7,7%. This strategic approach materialized with the relocation in August of its CEO, Justin Mullerat Ámsterdam a MadridThis move brings the group's leadership closer to its key operations in the Iberian Peninsula and underlines its confidence in the stability and potential of the Spanish commercial asset market.
The performance of assets in Portugal It was also solid, in a more favorable economic context than the eurozone average, with GDP growth of 2,5% in the second quarter. The Portuguese portfolio recorded a 9,5% increase in tenant sales and is practically at 100% occupancy. In contrast, Francia It showed a weaker macroeconomic environment, with GDP growth of only 0,2%. Despite this, the company's French assets achieved 6,6% growth in net rental income.
The company has continued to improve its occupancy rates, with a reduction in vacancy following the integration of brands such as Zara and the introduction of Lefties In the complex H2OThe management structure has also undergone recent changes, with the appointment of David Swarts as chief financial officer in June, replacing Kobus van Biljon, Y de Laurian McGonigal as chief operating officer in July, replacing Eddie McDonaldThe leverage ratio (loan-to-value) of the group remained stable at 35,9%.
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