Retail specialist Sonae Sierra has been mandated to manage two new shopping centres to be developed in the Portuguese cities of Setúbal and Carnaxide by the Edge Group.
Retail specialist Sonae Sierra has been mandated to manage two new shopping centres to be developed in the Portuguese cities of Setúbal and Carnaxide by the Edge Group.
The Edge Group, an investment holding of businessmen José Luís Pinto Basto and Miguel Pais do Amaral, has appointed Sonae Sierra to manage and market Forte Center and Setúbal Center, which represent a total investment of €100 mln.
Construction of both malls is expected to begin in 2014 while the pre-marketing process will be launched this month.
Forte Center, located in Avenida do Forte near the highway connection A5 Linda-a-Velha/Carnaxide, is a 14,000 m2 multi-purpose project that will integrate a shopping centre, hotel, office centre and parking area. Setúbal Center, offering 20,600 m2, is located in the city centre of Setúbal.
Sonae Sierra manages more than 70 shopping centres and is active in 11 countries: Portugal, Spain, Italy, Germany, Greece, Romania, Croatia, Morocco, Algeria, Colombia and Brazil.
