The Algarve’s Apolónia supermarket chain and Irish developers Formosa Developments SA have joined forces to create Portugal’s first lifestyle centre, which is to be built in Almancil at an estimated total investment of 100 million euros.
The Alma Lifestyle Center is due to open in 2011 and will include 100 spaces for shops and services in an area of 20,000sqm as well as more than 1,000 parking spaces.
When complete, Apolónia is planning to move its existing supermarket in Almancil into the new centre, which is located in the west of the town.
“This project, which comes at a time of expansion in our family-started business, offers a new facility in terms of comfort and services to the client,” said Avelino Apolónia.
“As investors in this new leisure facility, to which we will bring 26 years of experience, we confirm our trust in the complex and the pledge of quality and service.”
International retail agency CB Richard Ellis has been chosen to help launch the future project, which has been designed by both US and Portuguese architectural firms Perkowitz and Ruth and CPU Retail Architects Lda and is now in the final stage of being licensed.
According to CB Richard Ellis, who will also be selling the retail spaces in the centre, Almancil was chosen as the prime location for the centre to attract both residents as well as national and international tourists.
Carlos Récio, retail director for CB Richard Ellis in Portugal, said: “The project corresponds to the form of a structured urban centre, a unique integrated space that meets with the needs of the modern consumer, with retail services, culture and leisure.
“All this in a sophisticated environment that has been designed, created and managed with a unique objective in mind: the wellbeing and comfort of visitors.”