Sonae Sierra will open its Loop5 shopping centre in Weiterstadt near Frankfurt on 9 October, the second major project in Germany the shopping centre specialist has developed with French investor Foncière Euris. The mall comprises 56,000 m[sup]2[/sup] of GLA and represents an investment of EUR 265 mln.
Sonae Sierra will open its Loop5 shopping centre in Weiterstadt near Frankfurt on 9 October, the second major project in Germany the shopping centre specialist has developed with French investor Foncière Euris. The mall comprises 56,000 m2 of GLA and represents an investment of EUR 265 mln.
Loop5 will accommodate 175 stores and restaurants and has a catchment of one million people. Sonae Sierra's first project in Germany, the Alexa shopping and leisure centre in Berlin, provides 56,200 m2 of GLA and represented an investment of EUR 290 mln.
'More than 100,000 people turned out to the opening of the Alexa - also a leading light among shopping centres with its almost 180 rental units,' recalls Álvaro Portela, CEO of Sonae Sierra. 'We also expect a spectacular day for this future visitor magnet.'
Foncière Euris specialises in the development of shopping and leisure centres in Europe. It is part of the Euris Group controlled by Jean-Charles Naouri.
The company also owns the Casino Group, France's second-largest retail chain.
Sonae Sierra owns 51 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total GLA of more than 1.9 million m2. The company has four projects under construction and 10 new projects in different phases of development in Portugal, Italy, Germany, Greece, Romania and Brazil.