Sonae Sierra, via its affiliate Sierra Cevital, has just reinforced its presence in Algeria, signing its fourth contract of provision of services to third party shopping centers in this country.
The contract was signed with the Algerian group Prombati, led by Rachid Khenfri, and appoints Sierra Cevital as responsible for the management and commercialization of the new project Park Mall, in Sétif. Scheduled to open in June 2014, the Center will have a total Gross Lettable Area (GLA) of 30,000 m² and 100 shops, of which five will be of big dimension.
“Our services portfolio has been increasing in Algeria. This contract demonstrates the success of Sierra Cevital's first year of activity in the country, and reinforces our commitment with the local and international investors”, states Vitor Nogueira, responsible for the Management of Shopping Centers in Algeria, Greece, Italy and Morocco and for the Services Management of third party Shopping Centers of Sonae Sierra.
According to Rachid Khenfri of Prombati, the deal “allows Park Mall to take advantage of knowledge and professionalism at an international level in terms of shopping centers management. Through this partnership we intend to offer our clients, retailers and visitors the best management services and create a unique business experience in Sétif”.
Source: Sonae Sierra