The company said its portfolio is now valued at £6.3bn (€7.35bn), down from £8.3bn in 2019.
Hammerson operates in seven different countries, with a number of flagship retail centres including the Bullring in Birmingham, UK.
It co-owns Dundrum Town Centre, along with German insurer Allianz. The group also owns half of the Pavilions shopping centre in Swords, the Ilac Centre in Dublin city centre and 40pc of the Kildare Village premium outlet mall.
Net rental income of £158m last year was down 49pc as a result of Covid-19 closures, tenant restructuring and higher provisions for bad debt and tenant incentives, according to annual results from the group.