CGD mandates C&W to sell Nova Arcada shopping center

CGD mandates C&W to sell Nova Arcada shopping center

Taking advantage of the good moment that currently lives in the real estate investment market in Portugal, and the attraction for assets of significant size, CGD began the process of divesting this shopping center with 68,532 m² of Gross Leasable Area (GLA), inviting several real estate investors to submit competitive proposals.

The promotion of Nova Arcada was initiated by the extinct Chamartin Imobiliária and with funding from CGD. The financial crisis and the collapse of the developer company lead the shopping center to stop for construction works, for several years.

Already under management of CGD and with the hiring of Sonae Sierra as manager of the shopping center, it was possible to inaugurate in March 2016. For the opening was very helpful the IKEA's decision to set up an anchor store with 22,000 m2, as well as the role played by the Sonae group, with the opening of the largest Continente hypermarket in the northern region and with the installation of its main insignia in Nova Arcada.

Located in one of the youngest and most enterprising cities, center of one of the most dynamic regions of Portugal, the Nova Arcada shopping center has a strong competitor in Braga, the BRAGA Parque da Mundicenter, which includes the reference insignia, including a FNAC store and a Primark. But even with this competition, the center has improved its performance, benefiting greatly from the popularity of the IKEA store with the Spanish customers of Galicia, who find in Braga, on the side of the Portuguese border, the nearest store for them.

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