Imorendimento and Madford Developments, which are developing Évora Shopping retail scheme through joint-venture EVRET, will begin the construction work of the project's last stage the shopping center after the retail park's opening, in July. Architecture, landscape architecture and urban design are signed by Broadway Malyan.
The retail scheme developed by EVRET is located in one of the only catchment areas of the country still unexplored and its arrival will completely revitalize Évora's social and retail scene, providing an integrated, qualified, diverse and modern retail supply. Local inhabitants, economic players and public authorities recognize the project's ability to boost the economy, through the increase of consumption and employment; but also see in it an opportunity to renew the regional retail, creating a new way to access a modern and diverse retail supply to consumers who currently can't benefit from a similar supply in the nearest areas.
The construction work regarding the retail park and necessary infrastructures and access roads is already completed and developers schedule the opening of this format to next July. Évora Shopping's Retail Park has 6,000 m² GLA, including a large Moviflor store a Portuguese furniture and decoration brand - which will take 4,000 m² and be responsible for the creation of 40 direct jobs.
ImorendimentoActiveServices, a company of Imorendimento, and global real estate consultants Cushman & Wakefield are responsible for leasing the retail park, and should soon close new leasing agreements with two to three new brands. Cushman & Wakefield is also responsible for the project management of construction process.
After the opening of the retail park, construction work will begin on the shopping center, estimated to be completed in an 18-20 month period. The shopping center will be the final stage of the retail complex Évora Shopping and will be developed in two levels, with a GLA of 16,500 m² and 60 stores, including a variety of fashion and decoration brands, cinema multiplex, a food court and a supermarket. Local retailers are also very interested to have a presence in the new shopping center.
ImorendimentoActiveServices and Cushman & Wakefield are already pre-leasing the development, but full leasing process of the shopping center is scheduled to begin in July. The outlook for the placement of tenants is very optimistic.
Anthony Henry Lyons, Managing Director of Madford Developments, points out the location of the project as a key factor to its success. "Évora Shopping is located in the few areas in Portugal where it still lacks modern retail supply. Our project provides a so