<?xml version="1.0" encoding="utf-8"?>
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      xlink:role="http://www.xbrl.org/2003/role/link"
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          xlink:href="altareit-2024-12-31.xsd#altareit_CustomerRelationship"
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CustomerRelationship"
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        <label
          xlink:label="label_altareit_CustomerRelationship"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Customer Relationship</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_OtherIntangibleAssetsOtherThanCustomerRelationshipGoodwillAndBrandNames"
          xlink:label="altareit_OtherIntangibleAssetsOtherThanCustomerRelationshipGoodwillAndBrandNames"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_OtherIntangibleAssetsOtherThanCustomerRelationshipGoodwillAndBrandNames"
          xlink:to="label_altareit_OtherIntangibleAssetsOtherThanCustomerRelationshipGoodwillAndBrandNames"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_OtherIntangibleAssetsOtherThanCustomerRelationshipGoodwillAndBrandNames"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Other Intangible Assets other than Customer Relationship Goodwill and Brand names</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_InvestmentPropertyAtFairValue"
          xlink:label="altareit_InvestmentPropertyAtFairValue"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_InvestmentPropertyAtFairValue"
          xlink:to="label_altareit_InvestmentPropertyAtFairValue"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_InvestmentPropertyAtFairValue"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Investment property at fair value</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_InvestmentPropertyAtAmortizedCost"
          xlink:label="altareit_InvestmentPropertyAtAmortizedCost"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_InvestmentPropertyAtAmortizedCost"
          xlink:to="label_altareit_InvestmentPropertyAtAmortizedCost"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_InvestmentPropertyAtAmortizedCost"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Investment property at amortized cost</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_RightOfUseOnInvestmentPropertyAtFairValue"
          xlink:label="altareit_RightOfUseOnInvestmentPropertyAtFairValue"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_RightOfUseOnInvestmentPropertyAtFairValue"
          xlink:to="label_altareit_RightOfUseOnInvestmentPropertyAtFairValue"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_RightOfUseOnInvestmentPropertyAtFairValue"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Right of use on investment property at fair value</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_InvestmentAndReceivablesAccountedForUsingEquityMethod"
          xlink:label="altareit_InvestmentAndReceivablesAccountedForUsingEquityMethod"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_InvestmentAndReceivablesAccountedForUsingEquityMethod"
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          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_InvestmentAndReceivablesAccountedForUsingEquityMethod"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Investment and receivables accounted for using equity method</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_CurrentDerivativeFinancialAssetsHeldForTrading"
          xlink:label="altareit_CurrentDerivativeFinancialAssetsHeldForTrading"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CurrentDerivativeFinancialAssetsHeldForTrading"
          xlink:to="label_altareit_CurrentDerivativeFinancialAssetsHeldForTrading"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_CurrentDerivativeFinancialAssetsHeldForTrading"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Current derivative financial assets held for trading</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_RetainedEarningsAndOtherReservesAttributableToOwnersOfParent"
          xlink:label="altareit_RetainedEarningsAndOtherReservesAttributableToOwnersOfParent"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_RetainedEarningsAndOtherReservesAttributableToOwnersOfParent"
          xlink:to="label_altareit_RetainedEarningsAndOtherReservesAttributableToOwnersOfParent"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_RetainedEarningsAndOtherReservesAttributableToOwnersOfParent"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Retained earnings and other reserves attributable to owners of parent</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_RetainedEarningsAndOtherReservesAttributableToNonControllingInterests"
          xlink:label="altareit_RetainedEarningsAndOtherReservesAttributableToNonControllingInterests"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_RetainedEarningsAndOtherReservesAttributableToNonControllingInterests"
          xlink:to="label_altareit_RetainedEarningsAndOtherReservesAttributableToNonControllingInterests"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_RetainedEarningsAndOtherReservesAttributableToNonControllingInterests"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Retained earnings and other reserves attributable to non controlling interests</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_EquityProfitLossAttributableToNonControllingInterests"
          xlink:label="altareit_EquityProfitLossAttributableToNonControllingInterests"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_EquityProfitLossAttributableToNonControllingInterests"
          xlink:to="label_altareit_EquityProfitLossAttributableToNonControllingInterests"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_EquityProfitLossAttributableToNonControllingInterests"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Equity profit loss attributable to non controlling interests</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NoncurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:label="altareit_NoncurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NoncurrentAdvancesFromGroupShareholdersAndPartners"
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          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NoncurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Noncurrent advances from group shareholders and partners</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NoncurrentDepositsAndSecurityInterestsReceived"
          xlink:label="altareit_NoncurrentDepositsAndSecurityInterestsReceived"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NoncurrentDepositsAndSecurityInterestsReceived"
          xlink:to="label_altareit_NoncurrentDepositsAndSecurityInterestsReceived"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NoncurrentDepositsAndSecurityInterestsReceived"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Noncurrent deposits and security interests received</label>
        <loc
          xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:to="label_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:type="arc"/>
        <label
          xlink:label="label_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:role="http://www.xbrl.org/2003/role/periodStartLabel"
          xlink:type="resource"
          xml:lang="en">Bank overdrafts - period start</label>
        <label
          xlink:label="label_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents"
          xlink:role="http://www.xbrl.org/2003/role/periodEndLabel"
          xlink:type="resource"
          xml:lang="en">Bank overdrafts - period end</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_CurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:label="altareit_CurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:to="label_altareit_CurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_CurrentAdvancesFromGroupShareholdersAndPartners"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Current advances from group shareholders and partners</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_CurrentDerivativeFinancialLiabilitiesHeldForTrading"
          xlink:label="altareit_CurrentDerivativeFinancialLiabilitiesHeldForTrading"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CurrentDerivativeFinancialLiabilitiesHeldForTrading"
          xlink:to="label_altareit_CurrentDerivativeFinancialLiabilitiesHeldForTrading"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_CurrentDerivativeFinancialLiabilitiesHeldForTrading"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Current derivative financial liabilities held for trading</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NetChargeToProvisionsForCurrentAssets"
          xlink:label="altareit_NetChargeToProvisionsForCurrentAssets"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NetChargeToProvisionsForCurrentAssets"
          xlink:to="label_altareit_NetChargeToProvisionsForCurrentAssets"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NetChargeToProvisionsForCurrentAssets"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Net charge to provisions for current assets</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_ImpairmentLossOfCustomerRelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"
          xlink:label="altareit_ImpairmentLossOfCustomerRelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_ImpairmentLossOfCustomerRelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"
          xlink:to="label_altareit_ImpairmentLossOfCustomerRelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_ImpairmentLossOfCustomerRelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Impairment loss of customer related intangible assets recognised as of acquisition date</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NetPropertyIncome"
          xlink:label="altareit_NetPropertyIncome"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NetPropertyIncome"
          xlink:to="label_altareit_NetPropertyIncome"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NetPropertyIncome"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Net property income</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_DepreciationAndAmortisationExpenseIncludedInNetOverheadExpense"
          xlink:label="altareit_DepreciationAndAmortisationExpenseIncludedInNetOverheadExpense"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_DepreciationAndAmortisationExpenseIncludedInNetOverheadExpense"
          xlink:to="label_altareit_DepreciationAndAmortisationExpenseIncludedInNetOverheadExpense"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_DepreciationAndAmortisationExpenseIncludedInNetOverheadExpense"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Depreciation and amortisation expense included in net overhead expense</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NetOverheadExpense"
          xlink:label="altareit_NetOverheadExpense"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NetOverheadExpense"
          xlink:to="label_altareit_NetOverheadExpense"
          xlink:type="arc"/>
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          xlink:label="label_altareit_NetOverheadExpense"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Net overhead expense</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_MiscellaneousOtherOperatingIncomeExpense"
          xlink:label="altareit_MiscellaneousOtherOperatingIncomeExpense"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_MiscellaneousOtherOperatingIncomeExpense"
          xlink:to="label_altareit_MiscellaneousOtherOperatingIncomeExpense"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_MiscellaneousOtherOperatingIncomeExpense"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Miscellaneous other operating income expense</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_OtherDepreciationExpense"
          xlink:label="altareit_OtherDepreciationExpense"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_OtherDepreciationExpense"
          xlink:to="label_altareit_OtherDepreciationExpense"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_OtherDepreciationExpense"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Other depreciation expense</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_ImpairmentLossReversalOfImpairmentLossOtherNoncurrentAssets"
          xlink:label="altareit_ImpairmentLossReversalOfImpairmentLossOtherNoncurrentAssets"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_ImpairmentLossReversalOfImpairmentLossOtherNoncurrentAssets"
          xlink:to="label_altareit_ImpairmentLossReversalOfImpairmentLossOtherNoncurrentAssets"
          xlink:type="arc"/>
        <label
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          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Impairment loss reversal of impairment loss other noncurrent assets</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NetChargeToProvisionsForRisksAndContingencies"
          xlink:label="altareit_NetChargeToProvisionsForRisksAndContingencies"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NetChargeToProvisionsForRisksAndContingencies"
          xlink:to="label_altareit_NetChargeToProvisionsForRisksAndContingencies"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NetChargeToProvisionsForRisksAndContingencies"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Net charge to provisions for risks and contingencies</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_ProfitLossFromOperatingActivitiesBeforeShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:label="altareit_ProfitLossFromOperatingActivitiesBeforeShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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          xlink:type="arc"/>
        <label
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          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Profit loss from operating activities before share of profit loss of associates and joint ventures accounted for using equity method</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_ProfitLossFromOperatingActivitiesAfterShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:label="altareit_ProfitLossFromOperatingActivitiesAfterShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:type="locator"/>
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_ProfitLossFromOperatingActivitiesAfterShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:to="label_altareit_ProfitLossFromOperatingActivitiesAfterShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
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        <label
          xlink:label="label_altareit_ProfitLossFromOperatingActivitiesAfterShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Profit loss from operating activities after share of profit loss of associates and joint ventures accounted for using equity method</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_CostOfNetDebt"
          xlink:label="altareit_CostOfNetDebt"
          xlink:type="locator"/>
        <labelArc
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CostOfNetDebt"
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          xlink:type="arc"/>
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          xlink:label="label_altareit_CostOfNetDebt"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Cost of net debt</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_CostsOfDebt"
          xlink:label="altareit_CostsOfDebt"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_CostsOfDebt"
          xlink:to="label_altareit_CostsOfDebt"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_CostsOfDebt"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Costs of debt</label>
        <loc
          xlink:href="altareit-2024-12-31.xsd#altareit_NetGainLossOnDisposalOfInvestments"
          xlink:label="altareit_NetGainLossOnDisposalOfInvestments"
          xlink:type="locator"/>
        <labelArc
          order="1"
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
          xlink:from="altareit_NetGainLossOnDisposalOfInvestments"
          xlink:to="label_altareit_NetGainLossOnDisposalOfInvestments"
          xlink:type="arc"/>
        <label
          xlink:label="label_altareit_NetGainLossOnDisposalOfInvestments"
          xlink:role="http://www.xbrl.org/2003/role/label"
          xlink:type="resource"
          xml:lang="en">Net gain loss on disposal of investments</label>
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