Amoreiras owners seek €9M from State

 In Asset and Fund Management, News, Retail, Shopping Centres

The shopping centre management group Mundicenter, which owns Amoreiras Shopping, has filed five court actions against the Portuguese State to the tune of €8.8 million.

The court actions have to do with the rents that were suspended for shopkeepers in the shopping centre in 2020 because of the pandemic.
The owner of Amoreiras is not the only shopping centre and retail outlet management company that is pushing for compensation for rental income losses imposed by the government during the pandemic.
The real estate companies Mundiaveiro and Urbaminho, which manage shopping centres in the Mundicenter portfolio are also involved in the legal clawback process given that the group manages nine shopping centres including Centro Comercial Alvalade, Braga Parque, Forum Aveiro, Oeiras Parque, Strada Outlet and Spacio Shopping.
According to the newspaper ‘Negócios’ the first court action is the largest, with the group demanding €3.3 million from the State. In another case, the company is filing for €681,000. Urbaminho, which manages Braga Parque, has slapped two legal writs on the government: one for €2.9 million, another for €205,000. Mundiaveiro which manages Forum Aveiro is demanding €1.6 million.