Portuguese shopping mall specialist Sonae Sierra has presented its S. Joao da Madeira mall development to the public. Under construction since April 2006, the mall is scheduled to be inaugurated next fall, Sonae Sierra said in a press release.
Portuguese shopping mall specialist Sonae Sierra has presented its S. Joao da Madeira mall development to the public. Under construction since April 2006, the mall is scheduled to be inaugurated next fall, Sonae Sierra said in a press release.
Located in the north of the country, the retail centre provides some 117 retail units and 1,700 free parking spaces. The development is the result of expansion of the existing Modelo shopping centre which initially had 13 retail units. The refurbishment plan involves an investment of EUR 48.6 mln while adding some 104 retail units to the existing mall.
The S. Joao da Madeira mall has a gross lettable area of 32,085 m2 and features 14 restaurants, five cinemas, and 91 shops, hosting a Modelo supermarket as well as prestigious brands including fashion retailers Woman's Secret and Bershka.
The company forecasts the centre will have 5.7 million visitors a year from a catchment area of 300,000 inhabitants. Sales are estimated to amount to about EUR 50 mln during the first year of operation.
The Portuguese retail firm Sonae Sierra owns about 43 retail centres across five European countries and Brazil, while developing other 14 projects.