CBRE to manage three shopping centres in Portugal

 In News

The international property consultants CBRE has won the contract to manage three more shopping centres in Portugal.

They are 8th Avenida in São João da Madeira, Rio Sul Shopping in Seixal and LoureShopping in Loures. These latest assets will join the other shopping centres managed by the company: Almada Shop & Spot, Porto, UBBO in Lisbon and Alma Shopping in Coimbra.
In addition to managing the shopping centres, CBRE will also supervise the refurbishment process of Rio Sul Shopping in Seixal on the South bank of the Tagus River.
CBRE is now the market leader in shopping centre management on the Iberian peninsula with a portfolio of around 30 properties covering a total area of around 1,700,000 m2. Today CBRE receives more than 250 million visitors at its shopping centres in Portugal and Spain.
Francisco Horta e Costa Managing Director of CBRE Portugal said, “Shopping centres are undergoing a great transformation. Today a visit to a shopping centre is no longer just about a shopping experience, we are now incorporating entertainment and culture, turning shopping centres into meeting points which are relevant for the community and for their catchment area.”
“This has been a business area that has shown a significant year-on-year growth, confirming that the future of retail will be about coming up with new consumer experiences in each shopping centre and at a time when online shopping is gaining ground in Portugal,” he added.
However, the increasing trend for online shopping has so far not duly impacted the performance of Portugal’s shopping centres (compared to the disastrous impact on the traditional UK high-street shopping, for example), where the sector has continued to be active thanks to a range of activities and offer apart from just shops.
Attracting new visitors, maintaining competitiveness, attraction while adapting them to new lifestyles and advanced technology will be the main foci of CBRE in the shopping centre area.