Brazilian investment group Europar has acquired the site of the former Belcor textile factory in Felgueiras, Portugal, with plans to transform it into a €50 mln retail park.
The Felgueiras Retail Park will offer 7,000 m2 of gross leasable area, with several tenants already confirmed, including Aldi, Max Mat, Rádio Popular, Espaço Casa, and Fábrica dos Óculos, with more to be announced soon.
The project goes beyond just shopping. It's a mixed-use development that will include a petrol station with various services, a standalone commercial building, and a private residential complex with 104 apartments. Sustainability is a key focus for the new retail park, featuring solar panels and electric vehicle charging stations.
Construction is underway with a targeted opening in the first quarter of 2025. The official groundbreaking ceremony will be held on July 13th.
Vitor Rocha, CEO, Retail Mind Group, said: ‘It is with great satisfaction that I see this project getting off the ground and starting to take shape. It represents the culmination of more than two years of work, focus, and dedication from an entire team, but also the vision and trust, which we are very grateful for, from investors, partners, and brands who believe in these projects and which in themselves reveal the great dynamics of the current retail market.’
Marcos Matrowitz, CEO of Europar, added: ‘Felgueiras Retail Park will be a project of singular importance for the city of Felgueiras and a point of reference and interest for the entire region. A development that will bring new life to Belcor's historic facilities, with an innovative, mixed-use approach, with features of transversal interest. Covering a strongly commercial component, with major national and international brands from different sectors, services, and a considerable residential area. It will be a shopping, work, leisure, and life destination par excellence.’
Iberian retail consultancy Retail Mind Group is overseeing development, sales, and the master plan. The company already owns shopping parks in Évora and Moita and plans to soon announce three more retail projects in mainland Portugal and the islands.
