Retail Park in Portimao, Portugal, officially opens for business
In the heart of Algarve, Portimão’s Nova Vila Retail Park recently unveiled its doors to the public, marking a significant economic boost for the region. With a substantial investment of over €20 million, the retail complex promises a diverse shopping experience and over 200 direct, non-seasonal employment opportunities [2][5].
Spanning 8 hectares of land and boasting approximately 23,000 square meters of Gross Leasable Area (GLA), the retail park features a blend of well-known brands, combining international names with local favorites [4]. Among the newcomers to the southern part of the country are Action, Flying Tiger Copenhagen, Tienda Animal, and Kik, joined by other established names [4].
Anchor stores, yet to be named, anchor the ends of the Retail Park. Prominent industry players suggest the inclusion of key tenants, critical to drawing visitors [4]. In addition to retail spaces, Nova Vila offers a restaurant area, designed to evoke the Algarve patio ambiance, as well as leisure and rest areas including a children's playground and bicycle park, catering to both shopping and family-outings [1].
The name Nova Vila serves as a tribute to Portimão's 15th-century heritage, seamlessly connecting the modern development with local history [4]. Previously occupied by the Portimão Retail Park, which opened in 2006 and was later destroyed by a fire in 2012, the site now houses Algarve’s largest retail park launch in over a decade [5][2].
During the pre-opening ceremony on May 27th, Enzo Guidez, Country Manager of Mitiska REIM in Portugal, shared his optimism about the retail park's potential expansion and its impact on the region. "We anticipate that Nova Vila will become one of the main meeting points in the Algarve. Portugal has welcomed us warmly, and this is our eighth project in eight years here. We continue to invest, and with the projects we have in the licensing phase, we will have many works in the coming two years," he said [3].
Mayor of Portimão, Álvaro Bila, commended Mitiska REIM for their perseverance in overcoming obstacles since 2018 to bring the Retail Park to fruition. "Mitiska REIM has revitalized an area that was completely degraded and has done so with sustainability and environmental considerations in mind. All municipalities need projects like this, which positively impact the economy, but we have invested in Portimão, and we can only thank you," he expressed during the ceremony [3].
Nova Vila Retail Park presents an exciting prospect for economic growth and leisure activities in Portimão, showcasing a blend of retail, dining, and family-friendly facilities [2][5].
- Beyond just retail, Nova Vila Retail Park in Portimão offers a diverse mix of home-and-garden stores, adding to the variety of shopping options.
- The real estate industry in Algarve is expected to flourish with the increase in demand for homes near the bustling Nova Vila Retail Park.
- The finance sector also benefits from the economic boost in Algarve, as the Nouva Vila Retail Park generates revenue and attracts investment.
- Lifestyle enthusiasts will appreciate the blend of well-known brands and local favorites available at Algarve's Nova Vila Retail Park, enhancing their shopping experience.
- The launch of Nova Vila Retail Park signals a new era in the retail industry of Portugal, bringing over 200 non-seasonal jobs to the region and catering to locals and tourists alike.
