After winning, with RATP Travel Retail, the tender for the stations in the greater Paris area, the property company Altarea is also preparing to expand in Italy, mind Retail learned. We review the details.
In 2024, Altarea recorded €216 million in rental income, up 5.3%, and an occupancy rate of 97.2%. Why is travel retail a strategic focus?
Rodrigo Clare: In 2024, we have successfully rationalised the portfolio around our 5 asset classes (shopping centres, retail parks, leisure shopping, travel retail and mixed projects). We will continue to invest in travel retail, which is at the heart of our development strategy. Altarea currently manages 8 train stations. There are 5 in Italy (Rome, Milan, Turin, Padua and Naples) and 3 in France (Montparnasse, Austerlitz and Eastern Paris-based stations). In early March 2025, we and RATP Travel Retail won the tender for the Greater Paris stations (12,500 sq.m of retail space and 136 stores). We now want to export this expertise in station retailing to other countries.
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Article authors
Sophie Baqué
Chief Editor of mind Retail