Grupo Domingos Névoa has acquired Shopping Cidade do Porto for €28 mln from Grupo Teixeira Duarte.
Opened in 1994, the shopping mall consists of about 15,000 m2 of lettable area, distributed over four floors, and 90 shops, including anchors such as Zara, Froiz supermarket, Decathlon, Fitness Hut, Livraria Bertrand, Cortefiel and McDonald's.
The property last year received 3.4 million visits, an increase of 48.6% compared to 2021, while sales surpassed €35 million (+44.4%).
Bruno Névoa, CEO and shareholder of Grupo Domingos Névoa, said: ‘Last year we signalled our intention to be protagonists in this business segment. The acquisition of the Shopping Cidade do Porto and its car park is an important step in our strategy, not only for what it represents in business terms but also for the socio-economic development of the region.’
Sousa Ribeiro, general manager of the Grupo Domingos Névoa for this business area, added: ‘In the next few months the renewed vision for the shopping centre will be worked on and presented in due time.’
This is the third investment of the Braga-based business group over the past year in shopping malls, following the purchase of the Braga Retail Center and Mira Maia Shopping, at the end of 2021, for €20 mln.
