Chamartin and ING Real Estate Development have officially opened Dolce Vita Tejo, a new generation shopping center located in Portugal in the region between Lisbon, Loures, Oeiras, Odivelas, Sintra and Amadora. Dolce Vita Tejo, one of the biggest shopping centers, with the largest covered plaza of Europe, has an investment value of 300 million, is financed by ING Real Estate Finance and developed by a joint venture which is owned by Chamartin (60%) and ING Real Estate Development (40%).
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Dolce Vita Tejo is one of the biggest shopping centers in Portugal.
Dolce Vita Tejo has a catchment area of more than 2 million citizens and consists of approximately 122,000 m² of retail and leisure space, which has been let for 99%. The retail center features over 300 shops, 11 screens with 2,600 seats (UCI), a food-court of 30 restaurants, public space and parking space with a capacity of 9,000 cars. The anchor tenants include hypermarket Jumbo, Primark, Starbucks, El Corte Inglés Oportunidades, cinema UCI, Poly, Holme's Place, H&M, McDonalds, Pizza Hut, Staples, Zara, Sportzone, Worten, Benneton, Centroxogo, Box, Sfera, Massimo Dutti, Cortefiel, Zippi, Modalfa, Miss Sixty, SeaSide, Jack & Jones and other famous brands. Dolce Vita Tejo will also host Kidzania, the first kids thematic park for families with edutainment in Europe that truly is an innovative and revolutionary concept.
Artur Soutinho, General Manager of the Retail business of Chamartín, highlighted, "I am sure about the success of this project, showed by the level of commercialization that we achieved, only possible with a good team and a good asset. Dolce Vita Tejo is a step forward in the European retail business."
In his opening ceremony speech Menno Maas, CEO of ING Real Estate Development, said: "Firstly, we wanted an innovative mix of commercial activities and leisure. The area needed a large-scale mixed-use center. The expectation is that over 15-18 million people will visit the shopping center per year. Secondly, we wanted to create a center that is sustainable and socially responsible. Dolce Vita should connect people and make people feel good and want to stay and enjoy the experience. It had to be the choice destination for shopping and meeting friends over a drink or dinner, and going to the cinema. I believe a magnificent job is done in combining all of these elements."
Dolce Vita Tejo is responsible for 5,000 direct and about 10,000 indirect jobs. The retail center is super-regional and plays a role in the development of the local communities that it is part of. It is also sustainable as it is realized according to the Environmental Assessment Method For Buildings (BREEAM) and obtained the ISO 14001 for implementing the best sustainability conditions in the construction stage.
Source: ING Real Estate
