Multi Corporation has been awarded the property management mandate for Plaza Madeira Centre in Funchal, Madeira.
The asset opened in October 2007 and was recently bought by the open-ended real estate investment fund CA Património Crescente, a fund managed by Square Asset Management.
With 16.000m2 of GLA, it features 68 stores across three floors and includes 850 covered parking spaces and welcomes more than 10 million visitors annually.
In tandem with this change in management, the shopping centre has undergone a rebranding process and will be reintroduced to the public as Plaza Madeira from today, January 16, 2024.
The property is located in the heart of Funchal, just a 15-minute walk from the cruise port. Its key tenants are Worten, Pingo Doce, Massimo Dutti, Sportzone, Cortefiel, Tiffosi as well as Ikea Plan and Order Studio.
"We are excited to take on the property management of this wonderful asset in Funchal," said Francisco Cavaleiro de Ferreira, Managing Director Multi Corporation Iberia. “With a great team of specialists, we will apply our extensive retail knowledge to maximize the potential of this excellently located asset in Madeira.”
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Image provided by Multi Corporation.
