Sonae Sierra, Miller join forces in Granada complex

International retail developer Sonae Sierra and British company Miller Developments have established a joint venture for the construction of a new shopping and leisure centre in the Las Pulianas district of Granada, southern Spain. The total investment for the project will be EUR 107 mln.

The Granada development, located on a 14-hectare site, will include a 28,000 m² two-level shopping centre, a 17,000 m² retail park, and 1,940 parking spaces. Sonae Sierra and Miller Developments have sold the remaining area to Ikea Iberia, for the construction of a 28,000 m² IKEA shop. The centre is scheduled to be open to the public in 2009.

Miller Developments' ceo Phil Miller has said: 'This development has a great significance for us. We're very happy with our partnership with Sonae Sierra, which has already resulted in finished developments in Sintra and Coimbra, and a third one to be inaugurated next Spring, also in Portugal. The Granada development is our first together in Spain.'

Miller Developments is a subsidiary of Miller Group, UK's largest, privately-owned developer. The firm is developing factory outlets in Ringsted, Denmark, and in Budapest, Hungary and it has recently acquired two commercial developments in Germany and Romania.