EVRET starts construction of EUR 60m mall in Portugal

EVRET, a joint venture between Portugal's Imorendimento and UK property firm Madford Developments, will break ground this week on a EUR 60 mln shopping centre located in the industrial area of ??Almeirim, in Évora, Portugal.

The Broadway Malyan-designed scheme, known as Évora, is expected to offer some 16,500 m² of retail space on completion in the spring of 2013.

The two-storey mall will include 60 shops and 935 parking spaces.

'Located in one of the few areas in Portugal, where there is a lack of modern retail space, this shopping centre will respond to a real market need, offering an integrated and supplement retail offer that combines shopping, leisure and wellness,' said Anthony Henry Lyons, director of Madford Developments.

The site was bought by the partnership in December 2007 from Portuguese company Guedol for a total of EUR 55 mln.