Sonae Sierra says another mall in Germany to follow 290 mln eur Berlin opening |
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Tue, 11 Sep 2007 16:21
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LISBON (Thomson Financial) - Sonae SGPS's 50 pct owned Sonae Sierra commercial real estate arm is developing a second shopping centre in Germany to follow tomorrow's opening of a 290 mln eur mall in Berlin, the company said in a statement.Sonae Sierra's German head of development Thomas Binder said that while the Berlin shopping centre will remain its flagship, the company has an ambitious plan for the country, with a current investment of 'several hundred million euros' including developing a shopping centre in Weiterstadt, central Germany.Binder added that Sonae Sierra is looking for several other opportunities in Germany.The company said that it expects the Alexa centre in Berlin to attract 9 mln visits per year to its 178 shops which cover 56,200 square metres shopping space and will create 1,000 new jobs.The Weiterstadt project is being developed in partnership with French real estate company Fonciere Euris, as was the case with Alexa Berlin centre, Binder added.Sonae Sierra owns 45 shopping centres worldwide, with over 1.7 mln square metres of gross lettable area.The company is set to announce a renovation plan for its flagship Colombo shopping centre in Lisbon at a press conference on Friday at 11.30 am.chico.laxmidas@thomson.comscl/ajbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Sonae Sierra opens 290 mln eur shopping centre in Berlin - report 