retail-shopping-centers Market News: Spanish Real Estate Intelligence

El Corte Inglés to Finally Arrive in Porto
10 July 2019 – Richard D. K. Turner The Porto City Council announced that the plans for the El Corte Ingles development at the Boavista roundabout will finally take off. Thus, El Corte Inglés is in the process of obtaining the necessary licensing. The deal was indefinitely put on hold after the Spanish retail giant and the municipality were unable to reach an agreement in 2003. The company planned to build its mega-store on a plot near the Rotunda da Boavista and Casa da Música, while the local authority wanted to locate El Corte Inglés in Baixa. The new development is expected to include a shopping area, other facilities like gyms, and potentially even a hotel. Original Story: Diário Imobiliário / Lusa
Deutsche Bank Invests in its Portfolio of Portuguese Shopping Centres
22 June 2019Richard D. K. Turner DWS Investments, a fund management company belonging to Deutsche Bank, has built up a portfolio of shopping centres in Portugal. The company has been focusing its energies now on revamping the businesses. Its latest investment included the rehabilitation of the former Dolce DWS also owns the former Vila Real, now Nosso Shopping, Coimbra, which is now Alma Shopping. All three shopping centres went through a process of modernisation after having been acquired by the German bank. In 2018, footfall and the occupancy rate at Alameda Shop & Spot both grew significantly. Sales at the shopping centres food court grew by an impressive 30%. In addition to those three shopping centres in Vila Real, Coimbra and Porto, DWS also owns the Madeira Forum and recently acquired Leiria Shopping from Sonae Sierra for 128 million euros. Original Story: Jornal Econômico - Inês Pinto Miguel
Montijo Retail Park Inaugurated
28 May 2019Richard D. K. Turner The Montijo Retail Park, which is owned by Commerz Real and managed by Multi Portugal, is already open to the public. The shopping centre has 18,000m2 of gross leasable area, including six large and medium-sized commercial units with areas ranging from 1,000 to 9,000 m2. Conforama, Leroy Merlin, Espaço Casa, and Guimarães Footwear are among the first tenants, and Sports Direct will open a 1,800m2 store in July and the mall will be fully operational by September. Original Story: Diário Imobiliário