Sonae Sierra, the international shopping center specialist, has just announced the expansion of AlgarveShopping, an operation with an investment of 4.5 million euros, carried out with the purpose of modernizing and strengthening the commercial offer of the Centre located in Guia (Albufeira). The intervention adds about 3,000 m² of Gross Lettable Area (GLA) to AlgarveShopping which, after the conclusion expected in May, will make available 130 shops in a GLA of approximately 45,500 m².
The big novelty is the entry of C&A and H&M, two international references in the fashion segment, a strong bet from the Centre, which will feature the largest shops of both brands in the entire Algarve region.
H&M will open a large dimension shop, with an area of 2,250 m², whereas C&A will be present with an area of 1,400 m², the first unit in the region under the brand's new image.
This expansion has also attracted the entry of six new fashion and accessories shops, such as Levi's, Claire's and G-Star Raw, which complement the existing offer. As a whole, the new shops will create about 100 new jobs, to add to the existing 1,000 direct jobs.
Parallel to the conversion of the food court, the circulation and accesses will be improved, namely in terms of communication with the lower level. The intervention will enhance the visibility and width of the common areas, which will result in a more pleasant and comfortable space.
AlgarveShopping, 12 years of commercial success
This expansion marks the 12th anniversary of AlgarveShopping and answers the current market trends and visitor demands, ensuring the continued commercial success of this shopping center, which has an average occupancy rate close to 98% and welcomed almost 6.4 million visits in 2012.
The wide variety and quality offer are the most important features of AlgarveShopping, which provides a wide range of services in a pleasant area where clients can shop and spend their leasure time. Such an example is the general clinic-‘Clínica Particular do Algarve', open since May 2012-and a Veterinarian Centre, both with extended opening hours, which differentiate the Centre and reflect in exemplary fashion its concern with the convenience offer and the well-being of its visitors.
Source: Sonae Sierra