Lisbon, January 24th 2007
New shopping and leisure cenres to be inaugurated in the Fall
Sonae Sierra anticipates successful letting of ALEXA and El Rosal
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80% of the Gross Lettable Area (GLA) of both shopping and leisure centres is already let
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Many of the most prestigious international brands have already guaranteed their presence in Sonae Sierra's two new centres
Sonae Sierra has already ensured the letting of about 80% of the Gross Lettable Area (GLA) of its new shopping and leisure centres ALEXA, in Berlin (Germany), and El Rosal, in Ponferrada (Spain), which aren't scheduled to open to the public before next Fall.
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 centres, anticipate the success of these Sonae Sierra developments, and confirm the high amount of prestige and trust the company has garnered internationally. A prestige based on architectural and environmental innovation and quality, which have earned the company some of the prestigious international awards in this business sector.
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 centres, 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 centre 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 centre 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 (Do-it-yourself).
This new shopping and leisure centre 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.
Sonae Sierra, 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 or co-owns 41 Shopping Centres in Portugal, Spain, Italy, Germany Greece and Brazil, with a total Gross Lettable Area (GLA) of more than 1,6 million m2. Currently, Sonae Sierra is developing 14 more projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than 500.000 m2. In 2005, its centres welcomed more than 400 million visits.
The Mall Group has been operating in the different sectors of the real estate business for more than half a century now, distinguishing itself for the originality of its projects. This Austrian company is one of the references in the business, a position conquered thanks to its unique developments, always set in privileged areas and presenting as its most distinguishing elements design, excellence and sustainability.
Foncière Euris specialises in the development of shopping and leisure centres in Europe. The company forms alliances with top-quality developers to invest in major projects that contribute to vitalizing cityscapes. Work in progress includes the Carré de Soie development project on the outskirts of Lyons, the Paris-based Beaugrenelle shopping centre and the Manufaktura program in Lodz, Poland. Foncière Euris S. A. is a subsidiary of the Euris Group, which also controls the Casino Group, France's second largest exchange-listed retail chain.