Press Release - Madrid, November 25th 2003
New Sonae Imobiliária development in the area of Madrid
Avenida M40 will be inaugurated in March
The Avenida M40, a shopping and leisure centre developed by Sonae Imobiliária and Grupo Eroski in the southern area of Madrid, is scheduled to open to the public on March 16th 2004.
Representing an investment of about €105 million, this new development is intended to become one of the main leisure destinations for the city's community. The Centre is only a 15 minute drive away from some of Madrid's most important neighbourhoods and is located in a catchment area of about one million inhabitants.
The Avenida M40 has a Gross Lettable Area (GLA) of 48.700 m2 and 149 shops, including eight anchor shops, six of which are already let: Eroski hypermarket, Yelmo Cineplex with 12 cinemas, Zara and H&M (fashion), Forum (sports) and Ilusiona (bowling).
The commercial offer in the restaurant area includes 28 establishments - including important food chains such as Foster Hollywood, Burger King and McDonald's -, and also includes important brands from the Indetex Group (Stradivarius, Bershka, Pull&Bear, Kiddy's Class, Often and Massimo Dutti), and also Bennetton, Springfield and Foot Locker.
Currently, 80% of the Avenida M40's GLA is already let, and 90% is expected by the moment of the inauguration.
Leading Architecture
Designed by an international multi-disciplinary team, the Avenida M40 distinguishes itself on the outside through its sharp lines, displaying an innovative character and notably leisure orientated. The façade was designed with wide geometrical shapes that break through the overlap of metal volumes with curved shapes.
Stone, wood and metal are the reference materials, while red and blue are the colour groups which stand out in the Centre's key elements.