Sonae Sierra has already ensured the letting of about 80% of the GLA of its new shopping and leisure centers ALEXA, in Berlin (Germany), and El Rosal, in Ponferrada (Spain), which aren't scheduled to open to the public before next Fall.
Artist impression of shopping center ALEXA, Berlin.
The strong market demand, and the superior quality of most of the brands that have already guaranteed their presence in these two new shopping and leisure centers, anticipate the success of these Sonae Sierra developments.
Another important characteristic shared by these two developments is the high number of representatives of local commerce, which will make a difference both in ALEXA and El Rosal, since they represent more than 20% of the total GLA. This adhesion by the local entrepreneurs underlines the excellent integration capacity of these shopping and leisure centers, which respect the taste and tradition of the surrounding communities undoubtedly a major factor in Sonae Sierra's successful business strategy.
Alexa, which takes on the role of the new urban anchor of the famous Alexanderplatz, in Berlin, has a GLA of 54,000 m², of which 2,000 m² will be food and beverages, and 9,000 m² leisure and entertainment. With a total of 180 shops, prestigious brands such as MediaMarkt, H&M, Zara, Esprit, Douglas or Thalia are already committed to the project.
The shopping and leisure center represents a partnership between Sonae Sierra and Foncière Euris, on a total investment of 290 million, and it will create about 1000 new jobs.
El Rosal, located in Ponferrada, will be the largest shopping and leisure center in the Spanish province of León, and it has already guaranteed the presence, in its 49.200 m² of GLA, of quality brands such as Zara, Berska, Pull&Bear, Oysho, C&A, Stradivarius, Massimo Dutti and IZI (DIY).
This new shopping and leisure center is the result of a partnership between Sonae Sierra (70%) and the Mall Group (30%), representing an investment of 111 million. The El Rosal will be the main shopping and leisure destination in the entire region of Ponferrada, and it is scheduled to welcome seven million visits and record 110 million in revenue yearly.
In Spain, besides the El Rosal, Sonae Sierra is also developing Plaza Mayor Shopping (Malaga), in partnership with Castle City (75/25), whereas in Germany, besides ALEXA, the company is developing 3DO (Dortmund), scheduled to be inaugurated in 2010, and Weiterstadt (Frankfurt), scheduled to be inaugurated in the Fall of 2008.
Source: Sonae Sierra
