Le Terrazze shopping center to open on 21 March 2012 (IT)

Sonae Sierra and ING Real Estate will open the new shopping center Le Terrazze which is located in La Spezia, Italy. The center represents a total investment of €125 million (net of financial costs) and has 98% of its GLA already let. The new shopping center, with a GLA of 38,600 m², will hosts 104 commercial units including an Ipercoop hypermarket of 11,700 m², 8 large stores and 15 restaurants and bars, as well as a Fitness Club Tonic with indoor swimming pool, a games room of 700 m² and a free covered parking for 2,000 cars.

Le Terrazze achieved both ISO 14001 and OHSAS 18001 certifications.

Le Terrazze will offer a high quality tenant mix of local and international brands including H&M, Media World, Piazza Italia, La Feltrinelli, Tonic Fitness, Play Park Entertainment Centre, Scarpamondo, Kiko, Yamamay, Nara Camicie, Game Stop, OVS, Geox, Guess, Swarovski, Golden Point, Celio, Vodafone, Beauty&Co, Jean Louis Davide, Timberland, FootLocker, Primadonna, , Harmont & Blaine, among others. In the food court there will be brands like Mc Donald's, Rosso Sapore, Road House Grill, Old Wild West, Kikko Sushi, Gusto Siciliano, Bottega del Caffè and Yogurteria Antichi Sapori, and others will also be present to reinforce the restaurants offer.

"Le Terrazze will be the biggest shopping and leisure center in La Spezia and will give further impulse to the commercial appeal of the whole city," comments Jerry Boschi, Sonae Sierra Responsible for Development in Italy. "Italy is a key market for Sonae Sierra and we firmly believe it has an interesting growth potential."

"Le Terrazze will offer a new and innovative concept of shopping to all citizens of La Spezia and nearby provinces. Our goal is to create not only a place for shopping but also for living, where visitors can choose from a variety of different experiences, with great attention and respect to La Spezia and the local community we serve," added Michele Latora, Country Manager Italy, ING Real Estate.

Le Terrazze, developed through a 50/50 joint venture between Sonae Sierra and ING Real Estate, will create 700 new jobs (direct and indirect), excluding induced employment and hypermarket. The shopping centre will be the first phase of a wider project of urban requalification, which will give back to the citizens of La Spezia a part of their city. It will be easily accessible from the city centre - it is located just 1 km from La Spezia downtown - and also close to tourist areas such as Le Cinque Terre, Porto Venere, Lerici and Versilia.

Sustainable center
Le Terrazze project has been focusing on Corporate Responsibility from the very beginning of its construction adopting the best practices both in terms of Environment safeguard and occupational Safety & Health.

This strong commitment has been acknowledged by Lloyd's Register Quality Assurance (LRQA) and Le Terrazze has become the first shopping center in the world to ever achieve joint Environmental (ISO 14001) and Safety & Health (OHSAS 18001) certifications. Moreover, the project has achieved both certifications without any Non Conformities detected during the certification audits.


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