Portugal

Sonae Sierra invests €16M to expand GaiaShopping

Sonae Sierra invests €16M to expand GaiaShopping
GaiaShopping.

Sonae Sierra will proceed with the expansion and complete renovation of the shopping centre, which opened 30 years ago, with an investment of around €16 million. Work is expected to start soon and is scheduled for completion in the third quarter of 2026, with extensive work planned covering façades, corridors and more than 20 shops.

These works aim to "profoundly transform the centre, from the façades to the car parks, including the interior corridors and the food court," explains Ricardo Vilaça Pereira, Asset Manager at Sonae Sierra, according to Jornal de Negócios.

At the same time, more than 20 stores at GaiaShopping will introduce new concepts. Among the planned changes is the arrival of Primark, which is expected to set up shop in this shopping centre, according to the same newspaper.

The real estate arm of the Sonae universe will thus invest around €16 million in the renovation of GaiaShopping, in a project considered strategic and which also aims to improve the environmental performance of the Gaia shopping centre.

Iberian Property logo Iberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!