Press Release - Cascais, September 16th 2003
Now with 4700 parking spaces
New CascaiShopping inaugurated with 43 new shops
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Refurbishment represented a €25,4 million investment
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Total number of shops is now 205
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All shops are already let
CascaiShopping now has 43 new shops spread throughout the 7.750 m2 of Gross Lettable Area (GLA) that resulted from the refurbishment now concluded, which represented a €25,4 million investment, sustained by Sonae Imobiliária and the PanEuropean and Transeuropean II funds, managed by Pricoa, companies which own the centre (50%,25% and 25%, respectively).
This last stage of CascaiShopping's refurbishment, which started in April 2002, has also brought about significant improvements both to the interior and façade of the building, as well as to the parking lot, which now has a total of 4700 spaces available (one thousand more). All this is intended to provide more comfort, commodity and better accessibility to the more than 11 million customers that visit the centre each year.
Reinforcing the arguments that have given it the lead in the Sintra/Cascais area, CascaiShopping has two more anchor shops (H&M and Habitat), now offering a total of 205 shops - 38 of which are restaurants - that cover 72.420 m2 of GLA. All 43 new shops are already let, and 96% of them are expected to be open when the expanded area is inaugurated. CascaiShopping is now one of the four largest shopping centres in the country.
To Àlvaro Portela, Sonae Imobiliária's President, this inauguration "is another highlight in Sonae Imobiliária's history, since we have created a new Shopping and Leisure Centre from another one with over 12 years, without ceasing the centre's normal activity. Our aim is to always have the best shopping centres and the best time to make improvements is when you're being successful, and that is the case of CascaiShopping."
CascaiShopping's new architecture has once again placed it among the best existing shopping and leisure centres. For architect José Quintela, Sonae Imobiliária's Senior Director in charge of concept and architecture, the "new" CascaiShopping "now has a graphic image with an intense colour code and a new technical lighting concept that brings ‘life' to the Centre, while still respecting its past."
CascaiShopping was inaugurated in May 1991, as the first regional shopping centre in the country. The development was in the meantime the target of a phased refurbishment of its design and architecture,
which began in 1999, with the departure of the Printemps store, and that is now concluded.
PS: For further information, please contact Joana Vilaça (Imago - tel. 21 932 97 00)