DV Ovar changed name and will invest €1.7M

DV Ovar changed name and will invest €1.7M

VIDA Ovar Presentation

This new concept «can be summed up by an environment where each person finds his place, inspired by the different dimensions of daily life. VIDA Ovar, besides the shopping experience, adds healthcare, sports and leisure. More than a shopping, VIDA Ovar intends to be a place to live experiences and emotions, where open-air activities will also be present», it can be read in a release.

In order to achieve that goal, throughout next year, the shopping centre will be refurbished, including a new indoor and outdoor food court with several different settings (eat&work, living, family, lounge, kids and coffee), new resting areas, a children’s playground and new bathrooms.

The shopping centre’s outdoors will reinforce the family, leisure, sport and well-being features with new padel courts, areas for children and for fitness, cycling areas and a dog park.

Another new feature will be the Espaço VIDA, «a space to share with the community», where citizens will be able to «present their ideas concerning the shopping centre and know the planned projects». The shopping centre will award the most differentiating suggestions for its growth and relevance.

The shopping centre’s new brand was presented this weekend, with the presence of Kevin Cash, owner of White Sand Capital Portugal, which acquired the shopping centre in March this year; André Pinto, Administrator at INOGI, in charge of managing the shopping centre and Salvador Malheiro, Ovar’s Mayor.

VIDA Ovar has 67 shops and restaurants spread across 2 floors within an area with more than 20.000 sqm, with a free parking lot with 238 covered parking spots and 1.080 open-air ones.

White Sand’s kick-off in Portugal

It should be recalled that White Sand Capital Portugal acquired this shopping centre for around 7.8 million euro. The total refurbishment project will cost 2 million euro, 300.000 of which were already invested. An operation which represents the beginning of White Sand Capital Portugal’s real estate investment plan in our Country.

Kevin Cash stated that «VIDA Ovar is the first of what we hope will be a sustainable series of investments in Portugal, which will generate jobs and support the country’s economic recovery».

«We consider Portugal to be one of the most interest European destinations in terms of investment. We believe the Portuguese people’s culture will award the retail asset owners who create opportunities for their shopping habits and experiences which will make this a third home, aside from their houses and their workplaces. Leisure, food and physical exercise are part of this whole vision».

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