MERLIN Properties Annual Report 2024

| 63 Outlook R&D&I activities In the absence of externalities, occupancy levels in the three main asset classes (offices, logistics and shopping centres) are expected to be maintained, while rents will continue to benefit slightly from inflation as leases are indexed to the CPI. In October, a lease was signed with an artificial intelligence operator for a single batch of 15 MW IT at the Barcelona-Zona Franca Data Center (BCN01-PLZF), which is 100% leased at its Total Design Capacity. A fully equipped 9 MW were delivered to the customer in Q4 2024 and an additional 6 MW which will be delivered in Q1 2025. The effect of BCN01-PLZF on gross income in 2025 will be EUR +23 million. Further progress in equipment is expected during 2025, to reach 46 MW installed by the year-end. In relation to R&D&I activities and other innovative initiatives, MERLIN is committed to offering its tenants and users the highest quality comprehensive service, beyond the asset management itself, integrating the most innovative solutions in its assets to maximize the user experience. In line with this philosophy, during the last year MERLIN has continued to focus on improving the quality of life of users in its assets. In addition, MERLIN remains committed to LOOM flexible workspaces as a solution to the hybrid work model. During the year, MERLIN has continued to promote numerous technological projects to place MERLIN at the forefront of solutions for its customers and internal management. These include the office building sensorization program, the energy consumption reading project, the photovoltaic self-consumption project and the development of different user experience apps.