Portuguese shopping centre specialist Sonae Sierra said on Thursday that it will relaunch the development of the Nova Arcadia project in Braga, Portugal after having agreed a 22,000 m2 lease with Ikea.
Portuguese shopping centre specialist Sonae Sierra said on Thursday that it will relaunch the development of the Nova Arcadia project in Braga, Portugal after having agreed a 22,000 m2 lease with Ikea.
The new Ikea megastore will occupy two floors of the shopping centre which already includes other brands such as a Continente hypermarket, Worten, Cortefiel, Springfield, Women Secret, Zippy and Multiopticas.
Sonae Sierra said negotiations are also under way with several other brands to complete the new centre's commercial offer.
Nova Arcadia is expected to open in 2016 and will offer a total of 96 shops on four floors over 67,500 m2. It will have 15 large stores, a food court with 12 restaurants, an 11-screen cinema and 2,600 parking spaces.
'We are very pleased that Sonae Sierra and Ikea have joined together in a project for the first time in Portugal. This is a clear advantage for both companies, for Nova Arcadia and for the city of Braga as well,' commented Cristina Santos, head of shopping centre management for Portugal at Sonae Sierra. 'This agreement represents an important milestone in the shopping centre's leasing strategy. We have been working on the diversification of the tenant mix and we will shortly announce new developments that reflect the successful relaunching of the project.'
