Sonae Sierra will take over the management of shopping centre El Teler, in Onteniente, on the 1st of November. It's the fifth shopping centre in Spain not owned by Sonae Sierra to trust this prestigious company with its management. These centres are La Morea (Pamplona), Parque de Medianas de Parque Principado (Oviedo), Valderaduey (Zamora), MN4 (Valencia) and El Teler (Onteniente).
These centres have a total Gross Lettable Area (GLA) of 111.312 m2, and a total of 285 tenant contracts. In 2004, they welcomed more than 3,7 million visits. Shopping centre El Teler has a total commercial offer of 64 shops, in a 16.000 m2 Gross Lettable Area. The main shops are Supercor, Yelmo Cineplex, Sfera and Stradivarius. Inaugurated in November 2002, its catchment area reaches 284.000 people. El Teler is owned by Comercios de Ontinyent y Parking Urbanos S.A. Sonae Sierra is the leading European company in the investment, development and management of shopping and leisure centres. Its management strategy is based on the development of an attractive commercial mix; the development of products and services that turn shopping centres into leisure destinations; a strong cooperation with the tenants, intended to optimize their business, and an active environmental and social responsibility policy. Sonae Sierra's management model has been internationally acknowledged with several of the most prestigious awards in the sector. Currently, Sonae Sierra manages a total of 625.802 m2 of GLA and more than 1.664 tenant contracts in Spain. 514.490 m2 of that GLA belongs to the 11 centres the company owns or co-owns in the country: Plaza Mayor (Málaga), Parque Principado (Oviedo), Grancasa (Zaragoza), Max Center in Barakaldo (Vizcaya), Valle Real in Camargo (Cantabria), La Farga (Hospitalet, Barcelona), Avenida M40 in Leganés (Madrid), Dos Mares in San Javier (Murcia), Luz del Tajo (Toledo), Zubiarte in Bilbao and Plaza Eboli in Pinto (Madrid).
Source: Sonae Sierra