MERLIN Properties Annual Report 2019 / English

26 | Annual Report | 2019 In Renewals Out Net 81,155 265,393 (31,775) 49,380 39,596 38,710 (29,692) 9,018 104,369 154,269 (54,316) 99,953 Offices Shopping centers (1) Logistics In Renewals Out Net 81,155 265,393 (31,775) 49,380 39,596 38,710 (29,692) 9,018 104,369 154,269 (54,316) 99,953 Offices Shopping centers (1) Logistics The breakdown per asset category is as follows: (1) Excluding X-Madrid LEASING ACTIVITY Since the beginning of 2019, or since the acquisition date for the assets acquired during the year, until 31 December 2019, MERLIN has signed lease agreements amounting to 683,492 sqm, out of which 274,134 sqm corresponds to new leases and 409,358 sqm to renewals. The total of contracts expired in the period amounts to 695,525 sqm, of which 579,742 have been renovated or released, therefore the retention ratio in the period amounts to 83.4%.