Implanted on an 8-hectare site with 23,000 m² of gross leasable area (GLA), a new commercial complex in Portimão – Nova Vila Retail Park – is set to revolutionize the Algarve region. Opening its doors this Thursday, this development promises to be a game-changer.
With 16 stores and a strong focus on sustainability, Nova Vila Retail Park introduces a wide variety of brands, highlighted by two anchor stores: a large supermarket (brand to be announced soon) and a Leroy Merlin spanning over 9,000 m², including a dedicated area for construction materials and professional clients. Newcomers to the south of Portugal include Action, Flying Tiger Copenhagen, Tienda Animal, and Kik, among others.
These stores, featuring both national and international brands, will open on May 29, offering convenience in areas like DIY, decoration, electronics, optics, fashion, footwear, food, and dining.
The Nova Vila Retail Park emerges on the site of the former Portimão Retail Park, inaugurated in 2006 and completely destroyed by a fire in 2012.
Designed and developed to the highest architectural and construction quality standards, this new commercial space is the latest project by Belgian real estate investor and developer Mitiska REIM in Portugal. With this venture, the real estate fund manager, active in 10 other European countries, now manages 7 assets in Portugal.
Enzo Guidez, Country Manager of Mitiska REIM in Portugal, emphasizes the project's success hinges on meeting the specific needs of operators and end consumers, a philosophy that has seen repeat operators across their projects.
With an investment exceeding €20 million, Nova Vila Retail Park will create over 200 direct, non-seasonal jobs, vital for retaining the resident population and fostering Portimão's growth, directly contributing to local economic development and employment.
Beyond large stores, the park features a dining area with an Algarvian patio, leisure and rest zones including a children's playground, bicycle parking, electric vehicle charging stations, a Prio fuel station, and a free parking lot with 832 spaces.
Alexander Murch, Investment Associate at Mitiska REIM, highlights sustainability as a cornerstone of all their projects, with Nova Vila Retail Park no exception. Measures include drought-resistant native plants, rainwater reuse for irrigation, photovoltaic panels on the roof, and controlled lighting to reduce CO₂ emissions.
The project also pays homage to the Algarve's cultural heritage, with its name inspired by the 15th-century designation of Portimão by King Afonso V, "Vila Nova de Portimão," and architecture reflecting the region's collective memory.
A private pre-opening ceremony is scheduled for May 28, featuring regional dignitaries and a program including a welcome drink, project presentation by Mitiska REIM, a speech by the Mayor of Portimão, store visits, and a light lunch.
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