Porto’s La Vie shopping centre to become business centre

In a joint venture between French investor Tikehau and Portuguese-Spanish investor Quest Capital, a failed shopping centre in Porto, La Vie, is to be converted into a €70 million business hub.

The shopping centre in downtown Porto was originally created in 2007 under the name Porto Gran-Plaza in a €65 million investment developed by the Martifer group.

With 20,000 square meters of gross leasable area, in addition to 420 parking spaces, Porto Gran-Plaza was built right in front of the successful Via Catarina shopping centre (from the Sonae group), but it never managed to establish itself in the saturated market of “shopping malls” in the region.

By 2015 lack of footfall led to the shopping centre closing on Sundays from January to November.

The shopping centre was rebranded in 2016 and renamed La Vie but the change of name made no difference to trade whatsoever.

It was later partially occupied by the Bolhão Market temporarily until 2022 while the original market buildings were being restored and refurbished.

However, abounded by shoppers, the slide into obscurity continued and in recent years it had become a white elephant.

The shopping centre was in the hands of creditors Caixa Geral de Depósitos and sold in 2023 for €20 million.

In 2024, after a joint venture between Tikehau Capital and Quest Capital (joining Albatros Capital and Quântico), an announcement was made that the shopping centre had been acquired and would be turned into a business hub to be called Heart of Porto (HOP) in a €52 million investment. (Now risen to €70 million)

In May 2025, after a period of project development, and having obtained the necessary planning permission and licences, work will now begin on gutting the interior and carrying out structural works.

“The process of marketing the offices will start in tandem with the works. The offices will be aimed at modern and innovative companies and an attentive and sophisticated public,” according to a statement from the developers which foresee completion of the project by the second half of next year.

The reconversion works will be carried out in one single phase with the building being fully operational by the time of the official inauguration.”