In the scope of its international growth strategy, Sonae Sierra has just announced the beginning of Parque D. Pedro expansion in Campinas-São Paulo, Brazil, and the agreement with another important tenant for the Adora Mall in Craiova, Romania.

Owned and developed by Sonae Sierra, Adora Mall will represent the main shopping and leisure attraction in the city of Craiova with 59,000 m2 of GLA, 190 shops and 1800 parking spaces. We highlight the recent agreement for the presence of Cinema City, the largest cinema offer - 3,000 m2 - in the region. With more than 60% of its GLA (Gross Lettable Area) already pre-leased, Adora Mall will offer a unique combination of shops, services and entertainment for the biggest city in the south-west region of Romania, Oltenia.

The architecture of the new Shopping Centre is inspired by the Four Seasons, due to its location next to the landmark of the city, the Romanescu Park. Its architecture and decoration, will recreate nature in its different stages, reproducing different phases and images of the flora, which together recreate the feeling of nature's environment in each of the four seasons.

Located in the Central-Southeast area of town, facing one of the main streets in the city and connected to the Romanescu Park, Adora Mall has a privileged location in terms of access roads, and will serve a population of 420,000 inhabitants in its catchment area within a 30 min. distance.

Sonae Sierra Brazil begins the expansion of Parque D. Pedro Shopping

Sonae Sierra Brazil just announced the beginning of the expansion work of Parque D. Pedro Shopping, in Campinas, state of São Paulo. The € 9.1 million (R$ 23.6 million) investment will create a new area in the centre, containing 34 new shops in 5,400 m2 of GLA (Gross Lettable Area). The conclusion of this important expansion is scheduled for November.

The expansion of Parque D. Pedro is part of the strategy defined by Sierra Brazil for 2010, with a total of € 116 million (R$ 300 million) in investments, this year alone. "That value includes the expansion of Shopping Metrópole, in São Bernardo do Campo (SP), and the first construction stages of three new developments located in the states of Paraná, Minas Gerais and Goiás", explains the CEO of Sonae Sierra Brazil, João Pessoa Jorge.

The main innovation in architectural terms is the new Alameda Parque D. Pedro which is a new and totally innovative concept in the shopping centre industry in Brazil, since it's based on the architectural diversified solutions of the shops' façades. The architecture of this new area enables tenants to tailor, from pre-established criteria, brand implementation on the façades of their stores. Different levels in shop windows will lend the new space the look of a charming, open-space boulevard. Further to that, the landscape project includes exuberant plants and water mirrors, so that visitors can enjoy the experience of outdoors shopping, in a modern, attractive, and sophisticated environment.

Parque D.Pedro Shopping, inaugurated in March 2002, is one of the largest shopping centres in Latin America, with 389 shops and about 120,000 m2 of GLA. In 2009, Parque D. Pedro welcomed more than 20 million visits.

About Sonae Sierra

Sonae Sierra, http://www.sonaesierra.com/, is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping centre industry. The Company owns 52 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 2 million m2. Currently, Sonae Sierra has 2 projects under construction and 10 new projects in different phases of completion in Portugal, Italy, Germany, Greece, Romania and Brazil. In 2008 our Shopping Centres had more than 429 million visits.

• Inauguration scheduled for October 2009
• FNAC comes to Guimarães
• 290 new jobs
• Investment in the surrounding infrastructures

To celebrate its 14th
birthday, GuimarãeShopping will benefit from an expansion,
representing an investment of 15.2 million euros. After the expansion, the centre will have
an extra 4,000 m2
of Gross Lettable Area (GLA), for a new total of 31,500 m2
.
GuimarãeShopping will feature a total of 113 shops and 16 restaurants, as well as a wider variety in its offer, with 14 new shops and 6 new restaurants. The highlight of this project is the presence of FNAC, which up until now didn’t have any stores in the city, and will have a strong presence in GuimarãeShopping, which already makes available a Modelo Continente Hypermarket, C&A, Sportzone, Worten, Castello Lopes cinemas, Massimo Dutti, Salsa, Pull & Bear, McDonald’s and Pizza Hut.

The expansion of GuimarãeShopping aims at revitalizing its renowned qualities and ensuring the continuation of the enormous success this shopping centre has enjoyed. This refurbishment process began in March and will carry on until October 2009, always with the centre under operation.

A large variety and quality in terms of offer, which includes a complete set of services in a pleasant area where customers can shop and enjoy leisurely moments, represent the most important characteristics of GuimarãeShopping. Such an example is the presence of a pharmacy, Farmácia Vitória, opened since March 2009, which contributes towards the differentiation of the centre, reflecting to perfection the concern with the convenience offer and well-being of the visitors.

The expansion process will also create 290 new jobs, besides the 1018 already existing.

GuimarãeShopping also benefits from a privileged location, with a complete network of accesses, covering a catchment area with more than 470,000 people less than 30 minutes away by car. Thus, the success of GuimarãeShopping is reflected in its 8.8 million visits per year, and an annual sales volume reaching 52.4 million euros.

Access renovated and Refurbishment of the Bus Terminal Station The expansion project of GuimarãeShopping also includes the refurbishment of the city’s access roads, namely the crucial node of the Guimarães road network. The objective is to alleviate traffic and facilitate the access of ambulances to the hospital. The measures implemented by Sonae Sierra are the result of a long analysis process, developed together with the city hall, taking into account the specificities of this node. The beginning of the works is only pending on “Estradas de Portugal” permission.

Sonae Sierra is equally committed to the refurbishment of the Bus Terminal Station and has already started the works to improve the ventilation system so as to diminish the accumulation of smoke and gas inside this infrastructure. At the same time, a refurbishment in terms of painting and facilities is also underway. The security of the terminal is being reinforced and will have available a new information panel and waiting room for the convenience of users

source : Sonae Sierra

Investment of € 265 million that creates 1.000 jobs
56,500 square metres of gross lettable area (GLA) with 177 shops
95% of the GLA already let

Ready for take-off - this is the signal which Sonae Sierra and it´s partner Foncière Euris are confirming for the LOOP5 shopping and leisure centre in Weiterstadt. On October 9, 2009, the large-scale themed centre, whose motto is the world of aviation, will open its doors after 2 years of construction.

With a gross lettable area (GLA) of 56,500 m2, visitors will be welcomed with an attractive tenant mix comprising 177 shops and restaurants made up of leading international and national brands as well as local tenants. Owned and developed by Sonae Sierra (50%) and Foncière Euris (50%) the LOOP5 shopping centre represents an investment of € 265 million and will create 1,000 jobs.

"The opening of LOOP5 is a significant milestone in our German market growth", states Álvaro Portela, CEO of Sonae Sierra. "All Sonae Sierra centres provide a fascinating shopping and leisure experience and I am sure that LOOP5 - with its innovative concept - will also be a major success."

LOOP5 is a shopping centre ready for take-off

Aviation will be the central topic of LOOP5. And there are several reasons for this: Weiterstadt is close to Frankfurt Airport. Furthermore, Darmstadt is home to the control centre of the European Space Agency, ESA. Internally and externally, visitors will find numerous and diverse design highlights which references to the world of aviation. Beside the significant exterior appearance close to the A5, this includes a corridor in the design of the "Jet-Age", leading from the "Contemporary Aviation" area to the "Pioneers of the History of Flight". With its themed centres, Sonae Sierra creates fascinating environments in which people not only shop, but also love spending their leisure time.

On course for success with the perfect tenant mix

A permanent feature of the Sonae Sierra strategy is to create a tailor-made fully-comprehensive offering comprising retail, services, restaurants and entertainment for the entire family using innovative concepts. LOOP5 is a reflex of this and has already 95% of it´s GLA occupied with tenant mix that comprises high-end national and international brands as well as medium-sized regional retailers. The anchor tenants are Peek & Cloppenburg, C&A, H&M and Saturn. But LOOP5 is also offering space to local retailers, for instance the jeweller Techel, the toy store Faix & Söhne and the Vereinigte Volksbank Weiterstadt. 17 restaurants and coffee shops will provide diverse culinary delights. Currently the company is finalizing the tenant-mix with the final selection of tenants in order to open with the best commercial and leisure offer of the region.

A Green Shopping Centre
As in the case of all Sonae Sierra Shopping centres, LOOP5 is also being constructed according the Company Environmental Management System (EMS). Trough the application of this strategy LOOP5 construction phase was certified in accordance with the ISO 14001 environmental standard. The objective of the Sonae Sierra Green Centres concept is to minimise the environmental impact resulting from the construction and operation of new shopping centres.

About Foncière Euris
Foncière Euris, www.fonciere-euris.fr, is a French stock exchange-listed company specialising in the development of shopping and leisure centres in Europe. The corporation forms alliances with top developers and invests in major projects that help urban regeneration. Foncière Euris is part of the Euris Group controlled by Jean-Charles Naouri. Foncière Euris also owns the Casino Group, France's second-largest stock exchange-listed retail chain.

Source : Sonae Sierra

Started the management of two centres for third parties in Spain and Germany

Refurbishment of Centro Colombo was concluded

Three new projects and one expansion under development

Two international awards

Sonae Sierra’s Consolidated Net Profit in the first quarter of 2009 was a negative result of
€87.5 million compared with a positive consolidated net profit of €21,8 million in the same
period of last year.

This variation in Net Profit is mainly driven by Indirect Net Profit that were adversely
affected by the continuous increases in market capitalization yields in Europe.

The Company’s policy was to have its properties re-valued twice a year (June and
December), on the basis of an independent valuer opinion. Starting in September’08, the
Company decided to move to quarterly valuations, as a result of commitments agreed with
the Investors in the Sierra Portugal Fund. The accounts now published for the 1st
quarter 2009 includes therefore the effect of the valuation of the portfolio.

In the same period Sonae Sierra’s Direct Net Profit reached €17.5, compared to the €15,6 million in the same period of 2008.

The Shopping Centre Operating Income is in line with the first quarter of 2008.The decrease in Development Services was compensated by the favorable effect of the 2008 openings:

Freccia Rossa, Plaza Mayor Shopping, Gli Orsi and Pantheon Plaza.

Therefore, the Company’s Net Operating Margin reached €44 million in the first quarter of 2009, in line with the same period of last year.

The big shift in the Company’s Results happened at the level of Indirect Results. In this
area, the Company booked a loss of €105.1 million at the end of the first quarter of 2009, whereas it had booked a gain of €6 million in the same period of 2008.

read more

source : Sonae Sierra

• Sonae Sierra awarded for the PERSONÆ Project at the European Risk Management Awards in the “Best Risk Training Programme” category

• This award distinguishes the most efficient programme in risk prevention and control

• Acknowledgment of the bet on training for the prevention of accidents: over 14 thousand hours of training, involving more than 70 thousand people

Sonae Sierra has just been distinguished at the European Risk Management Awards, an initiative of British magazine “Strategic Risk”, which rewards the best and most innovative actions in the risk management area. This distinction, in the “Best Risk Training Programme” category, acknowledges Sonae Sierra’s bet on the development of a Safety & Health culture across the whole company and its shopping centres, namely through the PERSONÆ Project.

This distinction is the result of a rigorous selection process carried out by the jury panel of “Strategic Risk”, composed by 20 of the most important and prominent scholars and professional of the risk management area in some of the most important multinational companies. Sonae Sierra was also nominated in the “Best Risk Communication of the Year” and “Best Lost Control Strategy of the
Year” categories.

Álvaro Portela, Sonae Sierra’s CEO, stated: “This distinction makes us very proud, since it acknowledges our bet on the Safety & Health area, which, as we have always claimed, represents our conviction that people are the most valuable asset of any company. We believe this attitude gives us a competitive edge and is a reference and differentiation factor for our stakeholders

Launched in 2004, the PERSONÆ project focused on consolidating a culture of prevention and anticipation of accidents, to protect both our employees and everyone who interacts with Sonae
Sierra, with an emphasis on the responsible behaviour of each individual through common values adopted by the entire organization with the purpose of reaching the “zero accidents” goal.

Conscious that risk prevention is a direct responsibility of leaders and managers, and that the responsibility for the management of Safety & Health falls on the entire organization, Sonae Sierra invested more than 6 million euros throughout six years on the development and improvement of its Safety & Health system, through the PERSONÆ Project.

This training and prevention programme was the embryo for the procurement of the OHSAS 18001 certification, which made Sonae Sierra the first company in the sector, on a European level, to obtain certification for its Safety & Health Management System.

Between 2005 and 2007, the PERSONÆ Project involved training sessions not only for employees and tenants, but also for suppliers and visitors to the Sonae Sierra centres, in a total of more than 14 thousand hours, encompassing more than 70 thousand people in Portugal, Spain, Italy, Greece, Germany, Romania and Brazil.

The results of this Programme illustrate the success of the initiative. Between 2005 and 2008, the company recorded a 52% reduction in the number of days lost due to work accidents or professional diseases. In this field, the company also recorded, since 2005, a decrease a 62%
decrease in absences due to work accidents per employee.

source : Sonae Sierra

Sonae Sierra, through its subsidiary Sonae Sierra Brazil, yesterday (April 6, 2009) inaugurated the Manauara Shopping in Manaus, its 10th shopping center in Brazil, and the 51st of its global portfolio, representing an investment of about €88 million.

With a GLA of 47,000 m², the center features 227 shops, including 12 of large dimensions, including national and international brands such as C&A, Centauro, Cia Athletica, Magic Games, Marisa, Playarte, with 10 cinemas, Renner, Riachuelo, Saraiva Megastore (set in a 1,500 m² area, the first of the brand in Manaus), as well as brands well-known to the local public, such as Bemol, Dinâmica, making available furniture and decoration items, and Hightech Import, specialized in electronic and computer products.

A total of 52 shops are new to Manaus. With about 96% of its GLA already let, the Manauara Shopping features many reference brands: Adidas, Calvin Klein, Kappa, MontBlanc, Victor Hugo and C&A, just to name a few.

Other novelty is the installation of a modern Theatre with a total area of 1.350 m², that can accommodate more than 550 people in a stadium format, and is equipped with the latest generation equipments of light and sound.

“With this inauguration we proceed with our international expansion, and at the same time we reinforce our presence in the Brazilian market, where we have been growing in a sustainable manner. In fact, this is our 10th shopping center in the country, and we have three more projects in the development pipeline in Londrina, Minas Gerais and Goiânia. However, Sonae Sierra’s growth strategy doesn’t stop here, and in the last quarter of this year we will inaugurate Loop5, in Weiterstad, Germany”, states Álvaro Portela, Sonae Sierra’s CEO.

Innovation in the Brazilian market
Manauara Shopping will create 3,000 jobs and will welcome more than 12 million visits annually. For this audience, the center counts on 2,750 parking spaces and a modern electronic vacancy control system, never seen before in Brazil.

The architectural project – designed by José Quintela da Fonseca, responsible for Sonae Sierra’s Architectural and Conceptual Development, is inspired by the fauna and flora of the Amazon, privileging natural light. The Negro and Solimões rivers, the biggest tourist attractions in Manaus, were the inspiration for the center’s logo, and are represented on the development’s roof.

The exterior of the development features a green area of more than 3,000 m², where dozens of Moriche palms and two sweet chestnut trees were preserved, and are now a part of the landscaping project of Manauara Shopping, visible to all visitors from the food court level.

Inside the center the work of several local artisans and artists can be appreciated as well.

Also associated to this project are the donations of areas intended to bring culture and knowledge to the population, like the Eco Space, donated to the city hall.

A green shopping center
Like other projects developed by Sonae Sierra, Manauara Shopping follows the most rigorous standards set by the company’s Environmental Management System, and has adopted the most eco-efficient solutions to achieve the environmental ISO 14001 certification the construction management.

From the beginning of its construction, Manauara Shopping’s environmental commitment has materialized in the re-use of waste, such as cement and asphalt.

During the construction process, 500 thousand m3 of rainwater were collected, and the water collection system will continue to be used in the fire-fighting, irrigation and cleaning networks.

The shopping center also features equipments of high energetic efficiency, large glass areas for better use of natural light and solar-powered water heating systems in the employees’ dressing rooms. Another differentiating element in this development is the implementation of an effluent treatment station (ETS), which can treat more than 500 m3 of water, to be re-used in the sanitary facilities, irrigation of plants and shopping center refrigeration system.

Source: Sonae Sierra

In 2008 Sonae Sierra recorded a Net Operating
Margin of €179.9 million, a 16% growth compared
to the same period of 2007

• Fifty Shopping centres in operation in seven countries
• Four new shopping centres inaugurated in Spain, Italy and Greece
• Sierra Portugal Fund successfully created, launched and placed
• Rents grew 17,0% and 4,1% on a like-for-like basis in Europe
• 7,2% like-for-like increase in rents in Brazil, with occupancy up by 10 b.p. to 96.8%
• Total Direct Income from Investments grew 13% over last year
• € 67.8 million of Direct Net Profit
• NAV stood at €1,416 million

Sonae Sierra has consolidated, during 2008, its expansion and internationalization strategy, and closed last year with a portfolio of 50 shopping centres in operation, spread throughout seven countries, with a total Gross Lettable Area (GLA) of about 2 million m². Amongst the most significant moments of 2008 are: (i) the four inaugurations, Freccia Rossa in Brescia and Gli Orsi in Biella, both in Italy, Plaza Mayor Shopping in Spain and Phanteon Plaza in Greece; (ii) the completion of the expansion of ArrábidaShopping, in Porto, as well as the refurbishment of Centro Colombo, in Lisbon, both in Portugal, and Valecenter, near Venice in Italy; (iii) the successful launch and placement of the Sierra Portugal Fund with a total equity value of €300 million and (iv) the launch of three new projects in Brazil located in Londrina, Uberlândia and Goiânia.

During 2008, Sonae Sierra was awarded in several areas, namely the Green Thinker Award that elected the Company as most sustainable European developer among 100 leading companies in the sector. Sonae Sierra has also been distinguished by RLI magazine - Retail & Leisure International – with the “RLI Developer of the Year” award, at the Global RLI Awards 2008, the annual awards of this prestigious British publication.

Our Global Performance in 2008

Sonae Sierra’s Consolidated Net Profit in 2008 was negative of €198.2 million compared with a positive consolidated net profit of €300.1 million in the same period of last year. This variation in Net Profits is mainly driven by Indirect Net Profits that were adversely affected by successive increases in market capitalization yields in Europe, particularly in Portugal and Spain.

The Total Direct Income from Investments grew by € 35.3 million or 13% over last year, from € 279.9 million to €315.2 million. This reflects the increase in portfolio resulting from the full year impact of 2007 acquisitions (CC Continente de Albufeira, CC Continente de Portimão, both in Portugal, Münster Arkaden, in Germany, and River Plaza, in Romania), the increase in the participations of three assets in Brazil (Shopping Metrópole, Plaza Sul Shopping and Tivoli Shopping), the inaugurations of 2007 (Alexa, in Germany, 8ª Avenida, in Portugal and El Rosal, in Spain), as well as, the inaugurations occurred in 2008 (Freccia Rossa and Gli Orsi, in Italy, Plaza Mayor Shopping, in Spain, and Pantheon Plaza, in Greece) and the organic growth of the existing portfolio. These favourable contributions more than compensated the loss of accounting Operating Income resulting from the change in consolidation method due to the successful sale of 58% of the new Sierra Portugal Fund (now consolidated by the proportional method, instead of the previously used full consolidation method).
Sonae Sierra’s Direct Net Profit reached €67.8 million which compares with the €86.3 million in 2007. This reduction is explained by the increase in the net financial costs, which more than off-set the improvement in the net operating margin (which grew from 55,2% last year to 57,1% in 2008).

The big shift in the Company’s Results happened at the level of Indirect Results, where the market variations of value of the properties are recorded. In this area, the Company booked a loss of €265.9 million at 2008 year end, whereas it had booked a gain of €213.8 million in the same period of 2007. This Indirect Result has three main components.

In the first (Gains Realized on sale of Investments), the Company shows a gain in the period of €19 million corresponding basically to the gains made on the sale of positions to third party investors in the Sierra Portugal Fund, the gain on sale of the Mediterranean Cosmos to Sierra Fund, the price adjustment in CascaiShopping, the gain on the sale of part of Manauara’s land.

In the second component (Impairment & Development funds at risk provision), the Company recorded the impairments in the Romanian projects – Craiova and Ploiesti and the provision for developments at risk.

The third component (Value Created on Investments) corresponds to changes in value, on the basis of independent valuations, of the properties in the portfolio. In this component, the Company booked in the period a loss of €244.0 million. The market value of the investment properties is being affected by the negative climate now prevailing in the property markets of most of the developed countries where the Company operates. This context led to an upwards shift of the capitalization yields applied in the valuations carried out on assets in those countries, this increase implying a reduction in the value of the corresponding property.

The losses in Value Created on Investments were mitigated however by the value created on openings of the year and on properties under developments and the valuation gains in Brazil, a market that was not affected by the crisis and where yields remain relatively stable.

In 2008 and in the case of Sonae Sierra, the exclusive effect of the variation in the yields led to a reduction in the value of the Investment Properties of 11.4%, which amounted to €410.9 million. The highest losses occurred in Portugal (loss of €183.8 million) and Spain (loss of €136.4 million), the other European countries had a total loss of €93.7 million whereas Brazil recorded a gain of €3.0 million.

In terms of yield variation in the portfolio, these figures translate an average yield increase of 56 basis points in Portugal, 95 basis points in Spain, and an average yield reduction in Brazil of 8 basis points.

This potential loss of €410.9 million, resulting from the increased yield, was mitigated by a favourable evolution at the Shopping Centres operating level. The combined effect of changes in the projections of rents, key money, other net income and capital expenditures, led to an increase in the value of the properties of €129.7million. Therefore, the net effect of the variation in the investment properties valuation was negative in €281.2 million.

To note that the negative variation of the Investment Properties results from unfavourable market forces and in no way reflect a general under performance of the company’s European Shopping Centre portfolio which recorded a like–for-like 4.1% positive variation on rents versus 2007, with a stable occupancy, and a 7,2% like-for-like increase in rents in Brazil, where occupancy went up by 10 b.p. to 96.8%.

Our Performance in Brazil in 2008

2008 was a rewarding year for Sonae Sierra Brazil.

The Retail Operating Income increased by 16% to €40.5 million and the Income from Services Rendered increased by 22%, to €8.0 million in the period. The increase in operational and overhead costs were more than off-set by this outstanding performance in revenues, leading to a 8% increase of the Net Operating Income (NOI) to €28.6 million and a 6% increase of the Direct Profit to €21.3 million.
The increase in occupancy and collection rates through out our Brazilian portfolio and a better economic environment explain most of this excellent performance and the increase of the Direct Profit.
The Indirect Profit of the year, which mainly reflects the market variations of the properties value, was also positive in 2008. By the end of 2008, Brazil has been less negatively impacted by the turmoil in the world financial markets than other countries and the yields used in the valuations remained stable.

Both the good operating performance of the whole portfolio and the reduction of the yield in Parque D.Pedro (our largest asset) led to better property valuations and to the positive Indirect Profit of €49.1 million in 2008. By the end of 2008 and in development terms, we had succeeded in letting a total of 96% of the Gross Leasable Area (GLA) of our new Manauara Shopping Centre in Manaus. This 43,000
m2 centre is scheduled to open in April 2009. In 2008 we have also approved the development of 3 new centres in Londrina, Uberlândia and Goiânia cities. All three of these new developments have been given a good reception by Brazil’s shopping centre anchor stores.

During the year we marked two other milestones achieving ISO 14001 environmental certification for all our operating shopping centres and for Manauara Shopping, which is still under construction. Two of our centres – Parque D. Pedro Shopping and Shopping Penha –also achieved OHSAS 18001 Safety and Health certification, making them unique in Brazil as the country’s only shopping centres with this particular distinction.


source : Sonae Sierra

* Sonae Sierra was awarded at the Sustainable Energy Europe Awards (SEE), in the Market Transformation category

* The "Green Centre" concept as a key factor in the development and management of shopping centres

* European Energy Commissioner Andris Piebalgs was present at the ceremony

Sonae Sierra has just been distinguished at the Sustainable Energy Europe Awards (SEE), an initiative of the European Commission, with the purpose of awarding the best and the most innovative in the area of energetic sustainability at European level. This award, in the Market Transformation category, acknowledges the innovation of the company, an international specialist in shopping centres, in the energetic sustainability area, through the implementation of the "Green Centre" concept in the development and management of its centres.

Álvaro Portela, Sonae Sierra's CEO, stated that "this award makes us very proud, since the environment is at the core of our strategy, both in the development and operation stages of our shopping and leisure centres, and we have systematically implemented innovative practices with the purpose of maintaining our Company's sustainable growth, and leading our sector in terms of corporate responsibility".

The award ceremony was attended by the European Energy Commissioner, Andris Piebalgs, which demonstrates the dimension and the importance of this initiative which, since it started in 2005, has already had more than 631 associated projects, always with the purpose of promoting energetic efficiency at a European level.

This distinction was awarded after a rigorous selection process, which involved 251 candidates. 25 projects were then selected and evaluated according to a rigorous and pre-defined set of criteria, and subject to the scrutiny of a technical committee which finally selected the winners of the five categories.

Sonae Sierra, the international shopping centre specialist, is a pioneer in Europe in matters of the environment care. The company, which owns 50 shopping centres in Europe and Brazil, has been focusing on sustainability in the development and operation of its shopping centres for ten years now.

Sonae Sierra's Environmental Policy was approved in 1998 in the scope of the promotion of Sustainable Development and environmental preservation as a decisive asset for the success of its business.

To fulfil the values and guidelines of its Environmental Policy, Sonae Sierra has developed an Environmental Management System (EMS) according to IS0 14001, and certified by LLoyd's Register Quality Assurance. This system has the goal of continuously improving the Company's eco-efficiency and minimizing the environmental impact of the company's activities in all of its developments, throughout their lifecycle - from the development stage and during operation.

In practical terms, this strategy allows the company to put into place the best environmental practices in areas such as energy savings, management of water consumption and quality, monitoring of air quality, selective separation and recycling of waste, among others, which results in the minimization of the Company's environmental impact.

In the scope of its corporate responsibility policy, Sonae Sierra annually publishes its objectives, goals and results in its Corporate Responsibility Report.

source :Sonae Sierra

Sonae Sierra and Foncière Euris have achieved certification in accordance with the ISO 14001 international environmental standard for the management of the construction stage of the Loop5 shopping center in Weiterstadt, Germany, after examination by the Lloyd's Register Quality Association (LRQA). Among experts, the certification of the management of the construction in accordance with ISO 14001 is demanding - and Sonae Sierra is the only player in the German market that manages its construction sites in accordance with the ISO 14001 standard. The opening of the shopping center close to Frankfurt is planned for the autumn of 2009.

"For many years now, Sonae Sierra has been implementing a particularly far-reaching systematic corporate responsibility strategy. This also includes environmental protection covering the entire lifecycle of a shopping center. At Sonae Sierra, sustainability starts as early as the planning phase and the construction of new shopping and leisure centers. The certification of Loop5, in accordance with the ISO 14001 standard, proves that our Environmental Management System fulfils high standards. In Germany, this commitment to environmental protection is unique," states Álvaro Portela, Sonae Sierra's Chief Executive Officer.

Sonae Sierra is a clear pioneer in Germany in matters of the environment and has been focusing on sustainability for the last decade. The core of the company's progressive environmental strategy is its comprehensive Environmental Management System (EMS), which is binding throughout the world for all projects - from the construction phase all the way through to the operation of the centers - and is designed to minimize the environmental impact caused by company activities. To this end, the company ensures particularly responsible handling of water, electricity, fuels, building and raw materials along with waste, but it also considers such factors as building noise, health and safety, logistics and traffic flow as well as the sustainable utilisation of plots.

To date, the company has run 17 major building sites in accordance with the ISO 14001 standard and plans to have all future construction sites certified as well. But also shopping centers already operating have received the coveted and internationally-valid environmental seal in accordance with the ISO 14001 standard. Of the 50 existing shopping centers, 39 already have the certificate which represents 78% of the total portfolio.

In Germany, Sonae Sierra currently owns and operates two shopping centers: the ALEXA in Berlin and the Münster Arkaden. Additionally since January 2009 Sonae Sierra is assuming the management of the Post Galerie shopping center in Karlsruhe. The ALEXA, which opened in September 2007, was the first shopping center in Germany to receive ISO 14001 certification during its construction phase. And the environmental principles are also being successively introduced at the Münster Arkaden, a shopping center that Sonae Sierra acquired already operating. Each year, Sonae Sierra publishes the clearly-defined targets in a Corporate Responsibility Report.

Loop5 will be the central shopping and leisure environment for more than 1 million residents in, and around, Weiterstadt and will have 177 shops spread across 56,500 m² of GLA, 90% of which has already been leased. The center's central motto is aerospace, which is reflected in the design and architecture.

Sonae Sierra's Green Thinker Award
In October 2008, Sonae Sierra was presented with the Green Thinker Award at the Expo Real property trade fair. This award pays homage to the greatest pioneering achievements for environmental and corporate responsibility strategies among Europe's 100 leading property developers.

Source: Sonae Sierra

Sonae Sierra, the international shopping centre specialist, and Rockspring Property Investment Managers LLP, on behalf of their client, the PanEuropean Property Limited Partnership, inaugurate today in Larissa Pantheon Plaza Shopping and Leisure centre. The biggest shopping and leisure centre in Central Greece owned in equal shares by the partners represents an investment of €76.3 million and will open its doors to the public tomorrow, 23rd of October 2008.

The new centre has a shopping and leisure area of 27,000 m2 of which 98% has already been let. Pantheon Plaza will host 110 shops including the main international and national brands. Some of the important large shops already committed to Pantheon Plaza are an Aldi supermarket, a Moovie Star cinema with 3 screens, an H&M, a Fokas department store and a leisure shop, plus Media Markt that has already started its operation in the shopping center. It is worth noting that the latter together with H&M, Promod, Fokas, Mikyazy, Footlocker, G star and Aldo are new comers in the city of Larissa among other brands, while the Kare chain, specialist in furnishing, enters the Greek market through its first sales point within Pantheon Plaza.

"Pantheon Plaza signalizes a vital step in our development in the Greek market and proves our strong engagement in the growth of sustainable projects throughout the country", notes Álvaro Portela, Sonae Sierra CEO. "With the opening of Pantheon Plaza a new perception regarding shopping and leisure is introduced to the city of Larissa and its inhabitants. The locals will have the opportunity to taste totally diversified means of enjoyment, while a variety of services will cover their everyday shopping needs. We hope to attract 5 million visitors in the first full year of activity", he adds.

"Our architectural and design approach aims for the complete integration of the shopping centre into the surrounding area. With Pantheon Plaza we want to revive the historical and cultural tradition of Larissa deriving from the mythical Gods and Muses," commented José Quintela, Sonae Sierra responsible for Architecture and Conceptual Development.

Pantheon Plaza will include a variety of well identified brands in the clothing sector, such as BSB, Mouger, Kizis,Bill Cost, Pagoni, Badila, Sarah Lawrence, Accessorize, Adidas, Karren Miller, Nautica, Notos Exclusive, Dur, Gant, Timberland, Nautica, Attrattivo, Bostonians, Mat Fashion, Bag stories, Lapin, Marasil, EXE by Tsakiris Mallas, Helmi, Ipekyol.

In the food court Pantheon Plaza offers plenty of opportunities of relaxing enjoying the delicious tastes in Flocafe, Goodys, Hellas Melathron, Simple Burger and many other restaurants and cafes. Moreover, mobile telephony will present Germanos and various other outlets for simplicity and enjoyment of shopping as the hairdresser Nestor Giannakis and KLeidi Takouni sto Pi&Fi locksmith/ shoe repair.

The new shopping and leisure centre of Larissa is developed on the east side of the old national highway, 1.5 km from the city centre and will serve a total population of 197,600 inhabitants. With 1,600 non-paid car parking places, the Centre will create 900 jobs.

With the highest environmental standards

Pantheon Plaza is the first shopping and leisure centre in Greece to obtain the ISO 14001 environmental standard in the construction stage, that abides to the most rigorous and demanding quality standards imposed by Sonae Sierra in all its developments, namely in terms of comfort, safety and environmental protection.

Issued by Loyd`s Register Quality Association (LRQA), it is the result of implementating the best environmental practices throughout the construction stage, defined in the scope of Sonae Sierra's Environmental Management System (EMS). The EMS, in force since 2005, covers all business activities and applies to all countries where the company operates. It aims at minimizing the environmental impacts and promoting a continuous improvement of Sonae Sierra's performance in this area, in a coherent, effective and above all sustainable way.


source : Sonae Sierra

First European company in the sector to be certified by Standard OHSAS 18001

onae Sierra has just received certification for its Safety & Health management system in conformity with the OHSAS (Occupational Health and Safety Assessment Series) 18001 standard, thus becoming the first European company in the shopping centre sector to be certified in this area. This certification, issued by TÜV Rheinland, a German multinational leader in the certification area, acknowledges the quality of the Sonae Sierra Safety & Health system, and the good practices implemented by the Company in this regard.

OHSAS 18001 is a standard that validates a Management System (just like ISO 9000 and ISO 14000) oriented towards Safety & Health at the workplace, functioning as a tool that allows companies to manage and control their performance levels in those areas, according to the goals, policies and action plans set by the company itself.

Sonae Sierra has developed a Safety & Health culture throughout the entire Company and in its shopping and leisure centres, implementing measures consistent with its objectives and policy, so as to minimize and control potential risks derived from its activity.

One of the main interventions promoted by Sonae Sierra in this area was the PERSONAE project, which has the ultimate purpose of preventing and anticipating accidents, so as to protect employees and everyone who interacts with the Company. "Zero accidents" is the goal Sonae Sierra set out to achieve, through common values adopted by the entire organization.

Distinguished with the "DuPont Safety Award for Visible Management Commitment", in 2007, and the ECO Award from the American Chamber of Commerce in 2006, PERSONAE represented an investment of six million euros. It includes Sonae Sierra's shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, and was developed in three different stages which lasted 4 years (from 2004 to 2008). Throughout these three stages, more than 70.000 people were involved, including Sonae Sierra employees, tenants and service providers.

Sonae Sierra is an international shopping centre specialist. With passion, we bring innovation and excitement to the world of shopping and leisure. The company owns 48 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil with a gross lettable area (GLA) of more than 1.9 million m2. Currently, the company is developing 17 further projects and has 13 new projects in various phases of completion with a gross lettable area (GLA) of 1 million m2. In 2007, its shopping centres welcomed 410 million visits.

source : Sonae Sierra

* Expo Real and PropertyEU crown Sonae Sierra Europe's most sustainable developer among 100 leading companies in the sector

* The Company introduced the "green centre" concept within the shopping centre market

Sonae Sierra was just elected as Europe's most sustainable developer. Yesterday, the Expo Real property trade fair and the Dutch PropertyEU trade publication presented the new "Green Thinker Award" to the international shopping and leisure centre specialist. This accolade attributes to Sonae Sierra the greatest pioneering achievement in terms environmental and corporate responsibility strategies among Europe's 100 leading property developers.

Àlvaro Portela, Sonae Sierra's CEO, stated: "Sustainability during both the development and operation of our shopping centres is at the core of our strategy and we have been implementing this very systematically for many years now. For this reason, we are not only extremely proud to receive the ‘Green Thinker Award', but we are also particularly pleased that this award - presented for the first time ever - will further promote the environmental awareness within the international property industry."

The criteria of selection for the Green Thinker Award was very elaborate and followed several steps until the jury decided for the winner. A shortlist of 14 Europe's leading development companies was analyzed through research into the environmental and corporate responsibility strategies and was submitted to a jury of independent experts in the field of sustainability.

Sonae Sierra, the international shopping centre specialist, is a pioneer in Europe in matters of the environment care. The company, which owns 48 shopping centres in Europe and Brazil, has been focusing on sustainability in the development and operation of its shopping centres for ten years now. The core of the company's ambitious environmental policy is a comprehensive Environmental Management System (EMS), certified in accordance with the international ISO 14001 environmental standard, designed to minimise the company's activities-related environmental impact worldwide for all projects and throughout the entire lifecycle - from the development phase throughout to the operation.

The company has already certified 13 major building sites, and has the objective to certify the construction of all future developments. In addition Sonae Sierra aims at certifying all its shopping centres under operation in terms of their environmental performance. Worldwide, 26 existing shopping centres have already received the coveted and internationally-valid ISO 14001 environmental certification. A further 13 will follow this year. This will increase the share of Sonae Sierra shopping centres with the coveted environmental certificate to more than 80 percent.

Sonae Sierra publishes its clearly-defined sustainability principles and objectives annually in a Corporate Responsibility Report.

source : Sonae Sierra

152 shops in a Gross Lettable Area (GLA) of 53,150 m2, and more than 3,480 parking spaces

The new commercial offer includes highly prestigious brands such as Zara, H&M, C&A and Cortefiel

Sonae Sierra is inaugurating today the expansion of Shopping and Leisure Centre Plaza Mayor, in Malaga. After the extension, Plaza Mayor will have more than 18,800 m2 of Gross Lettable Area (GLA), and 1,130 additional parking spaces.


Representing an investment of 58 million euros, the expansion will allow the centre to offer 58 new shops, including Zara, Massimo Dutti, Oysho, Pull and Bear, Stradivarius, Bershka, H&M, C&A, Cortefiel, Promod, Esprit, Mothercare and Pré- natal.



Shopping and Leisure Centre Plaza Mayor will now make available a total of 53,150 m2 of Gross Lettable Area (GLA) with 152 shops, including 20 cinemas, 35 restaurants, 1 bowling alley with 20 lanes, 1 Mercadona supermarket, 1 auto-repair shop, 1 gas station, 1 music school and 1 health club, all served by 3,480 parking spaces.

Inserted in a catchment area of more than one million inhabitants 30 minutes away or less by car, shopping and leisure centre Plaza Mayor is expected to increase its number of annual visits from the current 5 million to 9 million, which will represent an annual sales volume of 107 million euros.

The expansion of Plaza Mayor has 100% of its Gross Lettable Area (GLA) already let. Besides featuring some of the biggest national and international brands, the development also counts on a strong presence of local entrepreneurs, which represent 32% of the GLA. With the creation of 850 new jobs, the Plaza Mayor presents itself as a development instrument for the region's economy.

In conformity with Plaza Mayor's architectural model, the centre's expansion is inspired by Andalusia's traditional architecture, attempting to recreate a typical Andalusia village, with its streets, squares, façades, rooftops, green areas and fountains.

For Álvaro Portela, Sonae Sierra's CEO, "this expansion will allow us to strengthen Plaza Mayor's commercial offer in a region where we intend to reinforce our commitment to the local commerce and simultaneously generate jobs. With this project, Sonae Sierra bolsters its presence in Spain, where it currently owns 12 shopping and leisure centres".


A Green centre

Following the standards defined in Sonae Sierra's Corporate Responsibility policy, the Plaza Mayor expansion was recently issued the ISO 14001 certification for the management of the construction stage. The process for the issuing of the same certification for the centre's operation stage is currently in progress.

Thank to an environmental management system (EMS) developed by Sonae Sierra for all its projects, the Plaza Mayor will be an "environment friendly shopping centre", implementing measures such as energy savings, reduced water consumption and waste management.


Sonae Sierra (http://www.sonaesierra.com/) is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping and leisure centre industry. The Company owns 48 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 1.9 million m2. Sonae Sierra has 17 projects under development and 13 new projects in different phases of completion in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil with a total GLA of 1 million m2. In 2007, its centres welcomed more than 410 million visits.

source : Sonae Sierra

A total investment of €212 million
3,000 new jobs to be created
LeiriaShopping and Maia Jardim are already under construction

Sonae Sierra, the international specialist in shopping and leisure centres, has presented today three new projects for future Shopping and Leisure Centres in Leiria, Maia and Caldas da Rainha, representing a total investment of € 212 million.

The three new shopping centres - Maia Jardim (Maia), Centro Bordalo (Caldas da Rainha) and LeiriaShopping (Leiria) - will create about 3,000 new jobs.

Sonae Sierra will thus become present in the Leiria and Caldas da Rainha regions, and will also reinforce its offer in the Maia region, where it already owns MaiaShopping.

According to Álvaro Portela, Sonae Sierra's CEO, "these three new projects will allow us to consolidate our leadership in the Portuguese market, applying the most modern and innovative solutions developed by the Company in the conception and development of shopping and leisure centres, always respecting the local tastes and traditions".

LeiriaShopping: an (r)evolution in the offer of the region of Leiria

Scheduled to open in the spring of 2010, LeiriaShopping is the result of the expansion of the current Continente de Leiria Shopping Centre, and represents an investment of about € 74 million. The development will have 43,200 m2 of Gross Lettable Area (GLA), and will create about 900 new jobs.

LeiriaShopping will make available the finest shopping and leisure offer in the area, with a total of 108 shops, of which the Continente Hypermarket, Sportzone and Worten are already under operation. Of the 8 large dimension shops, we also highlight the seven Castello Lopes cinemas and C&A, as well as 16 restaurants e another 84 shops which will host a wide array of prestigious brands.

Located in an area with excellent access roads (A8, A17, IC2, N113 and N242), the new shopping and leisure centre will serve a population of 529,000 inhabitants in a 30 minutes catchment area, 80% of which are already clients of the current Continente Shopping Centre. With the opening of the new development, the scheduled number of visits per year is expected to grow from the current 5 million to 8 million, and sales are expected to reach € 77 million in the first year of activity. The parking lot will be free of charge and will have a capacity of 1,900 vehicles.

Inspired on the Leiria Pine Forest and the Ocean, LeiriaShopping will recreate, through its architecture and furnishing, the green coastal area in which it's inserted, using the different elements that characterize it: the scent of the Atlantic, the pine forests that provided the wood for the construction of the Discoveries' ships, the cliffs, the sailors, and the golden sands of its beaches.

The city of Leiria, commune headquarters and district capital, is 146 kilometres away from Lisbon and 71 kilometres away from Coimbra. Its central location is one of the main factors for the city's growth and economic development.

Currently, Leiria is one of the 25 largest urban centres in Portugal, with a young population (31% of the inhabitants are younger than 25 years old) with a high purchasing power: 41% belong to the A/B/C1 classes.

Centro Bordalo: Rafael Bordalo Pinheiro as the inspiration

Future shopping and leisure centre Centro Bordalo, in Caldas da Rainha, is scheduled to be inaugurated in 2010, and represents an investment of € 56 million. A major step towards the modernization of the shopping and leisure offer in the Caldas da Rainha region, this new Sonae Sierra shopping and leisure centre should created about 700 new jobs.

With a Gross Lettable Area (GLA) of 24.000 m2 (including the existing Modelo supermarket), the new centre will make available a total of 95 shops, seven of which of large dimensions, like C&A and the Castello Lopes cinemas, and also 14 restaurants and 73 other shops.

Located in a region with a population of about 199,000 people in a 20 minutes catchment area, Centro Bordalo is scheduled to welcome 6.2 million visits and reach € 58 million in sales (excluding the hypermarket) in the first full year under operation.

The new shopping and leisure centre has a diversified network of access roads which includes the A8, A15, N8, N114 and N115. The parking lot in the new Shopping and Leisure Centre will be free of charge and will have a 1,100 vehicle capacity.

The project is signed by architect José Quintela da Fonseca and will be inspired by artist Rafael Bordalo Pinheiro. With that in mind, Sonae Sierra has developed a cooperation protocol with Faianças Artísticas Bordalo Pinheiro, Lda, aimed at associating the image and the products of the factory inaugurated in 1884 to the shopping centre.

Maia Jardim: a centre in the heart of Maia

Maia Jardim, owned by Sonae Distribuição and currently being developed by Sonae Sierra, is scheduled to be inaugurated in the beginning of 2010, and represents an investment of € 82 million. This new project reinforces the commercial offer of the region, where Sonae Sierra already owns and manages MaiaShopping.

With a Gross Lettable Area (GLA) of 31,000 m2, the new shopping and leisure centre will make available a total of 100 shops, seven of which of large dimensions, including a Continente Hypermarket, Worten, Sportzone and Castello Lopes Cinemas, and also 17 restaurants and 76 satellite shops. The new Shopping Centre will also make available 1,400 parking spaces.

Located in a region with a high population density, Maia Jardim will serve a population of about 261,000 people in a 20 minutes catchment area, and is expected to welcome 6.9 annual visits and reach a total of € 58,3 million in annual sales. This new development should generate, after its opening, a total of 1,400 new jobs.


Safety and environmental quality

Like in all shopping and leisure centres developed by Sonae Sierra, these three centres were designed according to Sonae Sierra's Environmental Management System, so as to fulfil the most rigorous and demanding quality standards the Company sets for all of its developments, namely in terms of comfort, safety and environmental protection.

These new developments will feature the most sophisticated solutions on areas such as the separation and treatment of waste, or the monitoring of water and air qualify, and the and the energy management and savings system is fully computerized (BMS - Building Management System).

Sonae Sierra is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping and leisure centre industry. The Company owns 48 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 1.9 million m2. Sonae Sierra has 18 projects under development and 13 new projects in different phases of completion in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil with a total GLA of 1.2 million m2. In 2007, its centres welcomed more than 410 million visits.

source : Sonae Sierra

Sonae Sierra has concluded an additional closing of the Sierra Portugal Fund (SPF) with investments made by two clients of Aberdeen Property Investors.

The investments result in a combined gross commitment which is in excess of €55 million, corresponding to an interest of approximately 18% in the SPF. This brings the total commitments raised from third party investors to €175 million. With this closing, Sonae Sierra’s interest in the SPF has decreased to approximately 42%.

The SPF was launched in March 2008 with a total equity of €300 million. The SPF is seeded with eight Portuguese shopping centres and also benefits from a pipeline of three projects currently being developed in Portugal.

Three reference investors joined Sonae Sierra in the initial closing of the SPF: LGPI – Local
Government Pensions Institution, a Finnish pension fund for municipal workers Ilmarinen, a Finnish mutual pension insurance company Continental European Fund I and Continental European Fund II, two real estate funds of funds managed by Schroder Investment Management Further closings are planned after the summer.

The Fund’s main objective is to provide investors with capital growth and income return through the investment in a portfolio of high-quality Portuguese shopping and leisure centres.

This transaction reinforces Sonae Sierra’s goal of increasing its asset management activity, while leveraging its investments through long term partnerships.

source : Sonae Sierra

Alexa, the first shopping and leisure centre developed by Sonae Sierra in Germany, has just been distinguished with the “Silver Award” at the prestigious ICSC Solal Marketing Awards 2008 in the category “Grand Opening, Anniversary, Refurbishment or Extension”, an International Council of Shopping Centres (ICSC) award. Meanwhile, Sonae Sierra itself has also been distinguished by RLI magazine - Retail & Leisure International – with the “RLI Developer of the Year” award, at the Global RLI Awards 2008, the annual awards of this prestigious British publication. Nationally, the “Jornal Construir” newspaper has also awarded Sonae Sierra, at the “Construir 2007” awards, with the “Best Real Estate Developer” prize.

The Alexa, inaugurated in Berlin on September 12th last year, has been awarded for the launch work designed and carried out by Sierra’s marketing and communication teams, which was based on the combination of advertising and public relations, culminating with the opening event, which was attended by 2,500 people, including international guests, journalists and public personalities.

Besides the advertising and launch campaign, created around a clear visual image designed by international artist Anjä Kröncke, the jury also rewarded the excellence of the inauguration gala, which had the Alexa’s architectural design as its theme, inspired by the 1920’s and by the “art deco” style, which attracted a media coverage worth €26 million.

This innovative development, owned in equal shares by Sonae Sierra and Foncière Euris, represented an investment of €290 million, and makes available 178 shops in 56,200 m² of GLA.

Recognized as the most prestigious awards in the shopping centre sector, the ICSC Solal Marketing Awards distinguish every year the best marketing campaign in the Shopping
Centres located in Europe, and the jury is composed by the most prominent personalities in this area.

As for the Global RLI Awards 2008, they’re an initiative from well-known British magazine RLI, which specializes in the shopping and leisure sector. In this third edition, the jury, composed by corporate personalities connected to the sector, rewarded 19 categories, and Sonae Sierra won the “RLI Developer of the Year” award, being considered the “most innovative and successful company in the sector over the last 12 months, with an emphasis on diversity, innovation, and ability to surprise”.

As for the “Construir 2007” awards, they were handed out this year for the first time by the “Jornal Construir” newspaper, one of the most prestigious national publications in the
sector, which elected the best in areas such as Architecture, Engineering, Construction and Real Estate.

According to Álvaro Portela, Sonae Sierra’s CEO “we proudly accept these awards, since they’re an acknowledgement by third parties of our efforts and of the Company’s achievements. We are very honoured by these distinctions. I consider this distinction a reward for our innovative spirit, the quality of our developments, and the excellence of our
team”.

These two awards confirm Sonae Sierra as the most distinguished company on an international level

source : Sonae Sierra

Sonae Sierra just started the construction of LeiriaShopping, a new shopping and leisure centre which is the result of the expansion of current SC Continente de Leiria, and is scheduled to open in the spring of 2010.

With a Gross Lettable Area (GLA) of 43,200 m2, the new Shopping and Leisure Centre represents an investment of € 75 million and is scheduled to create 900 new jobs. LeiriaShopping will make available the best shopping and leisure offer in the region with a total of 108 shops. There will be 8 large dimension shops, including the Continente Hypermarket, Worten and Sportzone which are already under operation, a Castello Lopes cinema with 7 screens and C&A. The offer is completed by 16 restaurants, and 84 shops which will host a wide range of prestigious brands.

Located in an area with excellent access roads (A8, IC2-N1, N113, N242), the new shopping centre will serve a population of 529,000 inhabitants in a 30 minute catchment area, of which 80% area already clients of the current Continente Shopping Centre. With the opening of the new centre, annual visits are expected to grow from the current 5 million to 8 million annual visits. The parking lot will be free of charge, and will have a 2000 vehicle capacity.

Inspired by the Leiria Pine Forest and the Ocean, LeiriaShopping will attempt to recreate this green coastal area through its architectural and interior design, using the different elements that characterize it: the scent of the Atlantic, the pine forests from which the wood that built the Discoveries ships was extracted, the cliffs and the sailors, the golden sands of its beaches.

The city of Leiria, district capital, is 146 kilometres away from Lisbon and 72 kilometres away from Coimbra, and its central location is one of the elements that contributed the most for its growth and economic development. Currently, it’s one of the 25 largest cities in the country, with a young population, 31% under 25 years old, and a high purchasing power, 41% belonging to the A/B/C1 classes.

source : Sonae Sierra

Sonae Sierra, through its subsidiary, Sonae Sierra Brasil, will begin the development of its 12th shopping and leisure centre in Brazil, located in the city of Uberlândia, west of the Minas state. Scheduled to be inaugurated in 2010, the development represents an investment of about € 43.5 million.

With this new project, Sonae Sierra Brasil now has three centres in the development stage. In March this year, the Group announced the construction of a shopping and leisure centre in Paraná, the Boulevard Londrina, also scheduled to be inaugurated in 2010. The inauguration of Manaura Shopping, in Manaus, is scheduled for the first semester of 2009.

According to the CEO of Sonae Sierra Brasil, João Pessoa Jorge, the goal for this year is to announce another development: “Our objective is to grow, and with that in mind we’ve established a strategy where we seek the best opportunities in the whole of Brazil”, he stated.

The new shopping centre in Uberlândia will serve a population of about 600.000 people, and it should create about 2.000 new jobs. Developed in two phases, the development will have two levels with 33.000 m2 of GLA (Gross Lettable Area) in the first stage, with a total of 191 shops including 4
large dimension shops, 20 restaurants, 1 hypermarket and one cinema with 6 lastgeneration screens, besides a parking lot with 2.000 spaces. In its second stage, the development will have 47.000 m2 of GLA and a total of 258 shops.

The architectural project – designed by José Quintela da Fonseca, Sonae Sierra’s head of Concept and Architectural Development – privileges natural light through the use of large glass areas and skylights (zenith lighting), which allows for large energy savings, and a visual and ambient comfort for visitors. Nature will be a predominant theme, with several green areas.

The developers and owners

The construction of the new development will be the responsibility of Sonae Sierra Brasil, in a partnership with Sonae Sierra, headquartered in Portugal, and DDR (Developers Diversified Realty), headquartered in the United States. Sonae Sierra Brasil intends to be the best sustainable specialist in shopping and leisure centres, and to achieve a leadership position in the country. Its growth strategy is based on the capacity to innovate and on a successful business model, which has its key in the integrated structure of the three main components of its business: Ownership, Development and Management of shopping and leisure centres.

source : Sonae Sierra

The inauguration of the expansion of shopping and leisure centre Plaza Mayor in Malaga
will take place next September 30th. Today Sonae Sierra is cédules to make the opening
date official, during the key delivery ceremony for the 58 new centre tenants. Plaza Mayor
expansion, developed by Sonae Sierra, will add 18.800 m2 of GLA, and an extra 1,130 parking spaces, for an investment of € 58 million.

The Plaza Mayor expansion already has 100% of its Gross Lettable Area committed. Besides hosting some of the most prestigious brands in the sector, it will also count on local entrepreneurs, which amount to 32% of the total GLA. Furthermore, its impact on the local economy will be very relevant, with the creation of 850 new direct jobs.

Starting next September 30th, Plaza Mayor will feature 58 new shops, including Mercadona, Zara, H&M, C&A and Cortefiel. It will also feature brands such as Zara Home, Oysho, Bershka, Pull & Bear, Massimo Dutti, Stradivarius, Women Secret, Springfield, Promod, Jack & Jones, Prenatal, Primor Perfurmería, Soloptical and Mayoral.

After the expansion, shopping and leisure centre Plaza Mayor will have a total of 53,100 m2 of Gross Lettable Area, 153 shops, 3,480 parking spaces, 20 cinemas, 35 restaurants, 1bowling alley with 20 lanes, 1 Mercadona supermarket, 1 autocenter, 1 gas station, 1music school and 1 gymnasium.

Shopping and leisure centre Plaza Mayor has a catchment area of more than one million people only 30 minutes away by car, is scheduled to welcome more than 9 million visits annually, and reach € 107 million in annual sales. José Mena, Sonae Sierra’s Responsible for Development in Iberia, stated that “on September 30th, after the inauguration of the Plaza Mayor expansion, the citizens of Malaga and its surroundings will have available one of the most modern and complete shopping centres in Andalusia, with a vast shopping and leisure offer”.

A “green” shopping centre

In accordance with the measures established by Sonae Sierra’s Corporate Responsibility policy, the expansion of Plaza Mayor employed the best environmental practices during the construction stage. At the moment the process for the certification according to the ISO 14001 standard for the construction stage is underway, as well as for the operation stage.

The Plaza Mayor will be a “green shopping centre”, thanks to the Environmental Management System (EMS) implemented by Sonae Sierra in all of its developments for the saving of energy, the reduction of water consumption and the management of waste.

source : Sonae Sierra