Sonae Sierra reinforces its activity in Italy and Romania

Sonae Sierra, the international shopping centre specialist, has just signed three important contacts: one for the provision of marketing services for a commercial project in Italy, and two tenant contracts for the Adora Mall development in Romania, reinforcing its international growth dynamics.

In Italy, Sonae Sierra has just closed a service provision contract with Gruppo Immobiliare Ceccarelli for the marketing of Shopping Park, a modern shopping park integrated in an innovative project of urban renewal, located in Bovisa, in the northern area of Milan.

Bovisa Tech, scheduled to open next September, will become Milan's new pole of design, technology, research and innovation. Shopping Park will present an innovative shopping concept, integrated in a large urban renewal project, which includes offices, residential and research structures, with a total GLA (Gross Lettable Area) of 16,850 m2 for a population of 2.1 million inhabitants in its catchment area.

The project, to be developed in two stages, will have, in its first stage, about 3,200 m2 of GLA for a total of 24 shops, and in the second stage, an added 4,500 m2 of GLA for the creation of a further 35 shops.

Romania: reinforced shopping offer in Adora Mall

In Romania, the Company signed two contracts for the entry of Best of Bowling and the Altex chain in Adora Mall, Sonae Sierra's new development, which will offer the inhabitants of Craiova an innovative Shopping Centre with a total 59,000 m2 of GLA (Gross Lettable Area) with more than 190 shops, services, leisure and 1900 parking spaces, to make available a complete offer to a catchment area of 435 thousand inhabitants.

Best of Bowling will offer a modern leisure venue with 10 bowling lanes and 15 billiards tables along with state of the art video games and simulators which will add value to the entertainment offer of Adora Mall.

The Altex chain is a household appliances and electronics specialist, which reinforces the strong commercial offer of the project.

According to Fernando Guedes de Oliveira, Sonae Sierra's CEO, "the signing of these important contracts confirms, on the one hand, Sonae Sierra's strong commitment to increasing service provision based on our know-how in all shopping centre business areas and, on the other hand, the tenant interest in Adora Mall, in Romania, which has 35% of its GLA already let".