Shopping center giant Unibail-Rodamco-Westfield (URW) on Thursday published positive quarterly figures regarding the momentum of its brands, but penalized by a negative impact of exchange rates.
Sales at URW tenant stores increased by 5% year-on-year in the first quarter and foot traffic in shopping centers increased by 1,7%.
The real estate group achieved a turnover of 908,2 million euros, down 3,7% compared to the first quarter of 2025, due "mainly to completed disposals and a negative impact from exchange rates", explains URW in a press release.
On a like-for-like basis, i.e. adjusted for exchange rate effects, disposals and asset sales, revenue increased by 3,3%.
The figures for the first three months of the year show "continued growth in sales by retailers and visitor numbers, solid rental activity and a reduction in vacancy (...), which underlines the strength and attractiveness of our destinations," said Vincent Rouget, Chairman of the Board of URW, quoted in the press release.
The company also indicates that it issued €1,6 billion worth of bonds in April, including €750 million in green bonds.
Unibail confirms its annual targets.
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