Sonae Sierra to open EUR 265m mall near Frankfurt

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.