Sonae Sierra, the specialist in the development of shopping malls, is to open two shopping centres in Spain in the autumn. The malls, in Ponferrada and Malaga, will involve an investment of EUR 158 mln, the Portuguese company said on Tuesday.
Sonae Sierra, the specialist in the development of shopping malls, is to open two shopping centres in Spain in the autumn. The malls, in Ponferrada and Malaga, will involve an investment of EUR 158 mln, the Portuguese company said on Tuesday.
Ponferrada mall, located in the northern region Spain of Leon, will provide 49,200 m2 with 152 retail units. The investment value will come to EUR 111 mln. The EUR 47 mln Plaza Mayor Shopping centre in Malaga, southern Spain, will comprise an area of 18,750 m2 including 58 retail units.
The two retail projects are part of a 14-shopping mall plan that Sonae Sierra is developing in six different countries: Portugal, Italy, Germany, Spain, Greece and Brazil. The total investment for the project, which involves more than 500,000m2 of retail, reaches EUR 1.52 bn, Spanish newspaper El Economista reported.
In 2007, six of the 14 project developments will open in Portugal, Germany, Spain and Italy. The opening of the remaining centres is scheduled between 2008 and 2010. The Portuguese shopping mall company invested some EUR 762 mln in Germany, distributed between the EUR 290 mln Dortmund mall, the EUR 272 mln centre in Berlin and another retail centre in Weiterstadt.
