Álvaro Poetela appointed as Non-executive director of Aisi

Secure Property Development & Investment Limited, formerly Aisi Realty Public Limited appointed Álvaro Portela as a Non-Executive Director of the Company. Álvaro, 60, a real estate professional with over 25 years’ industry experience, was previously the Executive President and Chief Executive Officer of Sonnae Sierra for 20 years. Having joined Sonae Sierra in 1990, Álvaro played a significant role in leading the company from the opening of its first major shopping centre, to becoming a global leader in retail property development and management, with over 50 shopping centres across the globe.

Álvaro retired from Sonnae Sierra in 2010 and now holds non-executive positions at various company boards, as Chairman at MAFP, a Dubai based real estate developer, owner and operator, Sonae SGPS, Sonae Capital SGPS, and other Portuguese companies, as well as Investment Committee positions at Paneuropean Fund and ECE European Prime Shopping Centre Fund.

Álvaro’s appointment to the Board follows closely that of Harin Thaker, previously Chief Executive Officer, Europe, of Hypo Real Estate, who joined Secure Property as a Non-Executive Director in May this year [we reported]. The appointments build on a number of successful turnaround initiatives which have been implemented by the new internal management as part of a wider strategy, to improve the Company’s financial strength, and reposition it for future growth.