Merlin’s Post-Blackout Real Estate Recovery
- MADRID — Backup power systems proved crucial for businesses in Spain and Portugal during a widespread power outage that brought parts of both countries to a standstill Monday.
- Merlin Properties, a major real estate holder in Spain and Portugal with a portfolio exceeding 11 billion euros, stated that its properties functioned "more or less normally" due...
- “Data centers continued working normally as they have backup generator groups for cases such as yesterday in which the electricity supply fails," the company said.
Backup Generators Keep Businesses Running during Spain, Portugal Blackout
Table of Contents
- Backup Generators Keep Businesses Running during Spain, Portugal Blackout
- Backup Generators Keep Businesses Running during Spain, Portugal blackout: Q&A
- What happened during the power outage in Spain and Portugal?
- Which types of businesses were affected?
- How did real estate companies respond to the power outage?
- How did Merlin Properties fare during the blackout?
- What about Pontegadea’s buildings?
- What happened at Colonial Properties?
- How were shopping centers affected?
- What was the experience of MVGM-managed shopping centers?
- Did Castellana Properties use generators?
- Were construction projects affected?
- Summary of Key Impacts
MADRID — Backup power systems proved crucial for businesses in Spain and Portugal during a widespread power outage that brought parts of both countries to a standstill Monday. Real estate companies reported that offices, shopping centers, and data centers largely maintained operations thanks to on-site generators.
Real Estate Companies Report Minimal disruptions
Merlin Properties, a major real estate holder in Spain and Portugal with a portfolio exceeding 11 billion euros, stated that its properties functioned “more or less normally” due to backup generators. The company noted that moast of its office buildings,primarily located in Madrid,Barcelona,and Lisbon’s business districts,are equipped with these systems.
“Data centers continued working normally as they have backup generator groups for cases such as yesterday in which the electricity supply fails,” the company said.
Shopping centers also utilized generators, prioritizing essential services and refrigeration.
Pontegadea‘s Key Properties Protected
Pontegadea, the real estate firm of Inditex founder Amancio Ortega, confirmed that its critical infrastructure remained operational due to backup generators. The company owns prominent office buildings in Spain, including Torre Cepsa and Torre Picasso in Madrid, which are equipped with emergency power systems.
Tenants within these buildings determine which services to prioritize during outages. Pontegadea also noted that while its commercial properties had generator support, individual brands decided whether to remain open, as some experienced issues with credit card processing due to network failures. The Primar store on Gran Vía 32 in Madrid, a Pontegadea property, experienced no issues with its emergency power.
Protocols Activated at Colonial Properties
Colonial, another major office building owner, reported that its established protocols for power outages were activated. The company stated that its buildings continued to operate with only minor disruptions.
Shopping Centers Rely on Backup Power
MVGM,a company that manages numerous shopping centers in Spain,said its backup generators for common areas were activated. Faustino Garcia,head of retail and residential at MVGM,stated that these generators were “sufficient to meet the demand of the centers until the restoration of the general electricity supply.”
Garcia added that some stores without backup systems had to close, and in a few cases, evacuations were necessary. “Only in some cases, such as some supermarket with an alternative system, they were able to follow the activity without major problems giving service to the population,” Garcia said. As of Tuesday, all MVGM-managed centers were open and operating normally, with electrical systems undergoing inspection for potential damage.
Castellana Properties also reported that its teams coordinated efforts at each center, maintaining interaction with tenants and users. The company said evacuations were carried out smoothly with the assistance of emergency services. “All our centers are equipped with their own generators, which were activated according to the established procedures,” the company stated, adding that many tenants, such as supermarkets, have their own contingency plans.
Construction Unaffected
Real estate developers reported no significant impact on construction projects. Aedas Homes stated that its construction sites, including crane operations, were unaffected because they typically operate independently of the conventional power grid. The company noted that during the blackout, tasks requiring electricity were simply replaced with those that did not.
Backup Generators Keep Businesses Running during Spain, Portugal blackout: Q&A
Below is a Q&A-style article based on the provided text, focusing on the impact of a power outage in Spain and Portugal and the role of backup generators.
What happened during the power outage in Spain and Portugal?
A widespread power outage brought parts of Spain and Portugal to a standstill on monday. Though, many businesses were able to continue operating thanks to the use of backup power systems.
Which types of businesses were affected?
The outage impacted various businesses, including:
- Offices
- Shopping Centers
- Data Centers
How did real estate companies respond to the power outage?
Real estate companies generally reported minimal disruptions due to their use of backup generators. Data centers and many office buildings were able to maintain operations. Shopping centers also utilized generators to keep essential services running.
How did Merlin Properties fare during the blackout?
Merlin Properties reported that its properties functioned “more or less normally” due to backup generators. The company has a portfolio exceeding 11 billion euros in Spain and Portugal. Most of their office buildings, primarily in Madrid, Barcelona, and Lisbon, are equipped wiht these systems.
What about Pontegadea’s buildings?
Pontegadea, the real estate firm of Inditex founder Amancio Ortega, stated that its critical infrastructure remained operational due to backup generators. Pontegadea owns prominent office buildings in Spain, including Torre Cepsa and Torre Picasso in Madrid, which have emergency power systems. Notably, tenants within these buildings determine which services to prioritize.
What happened at Colonial Properties?
Colonial, another major office building owner, activated its established protocols for power outages. Their buildings continued to operate with only minor disruptions.
How were shopping centers affected?
Shopping centers relied on backup generators to keep essential services running. MVGM, a company managing numerous shopping centers in Spain, activated its backup generators for common areas. Some stores without backup systems had to close.
What was the experience of MVGM-managed shopping centers?
MVGM activated backup generators for common areas. Faustino Garcia, head of retail and residential at MVGM, stated that the generators were “sufficient to meet the demand of the centers until the restoration of the general electricity supply.” Some stores without backup systems closed, but as of Tuesday, all MVGM-managed centers were open and operating normally.
Did Castellana Properties use generators?
Yes, Castellana Properties also reported that its teams coordinated efforts at each centre, maintaining interaction with tenants and users. Evacuations were carried out smoothly, and all centers are equipped with their own generators, which were activated according to established procedures.
Were construction projects affected?
No,real estate developers reported no important impact on construction projects. Aedas Homes stated that its construction sites were unaffected because they typically operate independently of the conventional power grid.
Summary of Key Impacts
Here’s a concise summary of how different entities were impacted during the power outage:
| Entity Type | impact | Mitigation |
|---|---|---|
| Data Centers | Maintained normal operations | Backup generators |
| Office Buildings | Minimal disruptions reported | Backup generators |
| Shopping Centers | Essential services prioritized | Backup generators for common areas. Some stores closed |
| Construction Sites | Unaffected | Independent power grid operation |