Plans for a new shopping centre

THE GRAN Plaza chain, part of the Martifer group, is planning the construction of a new shopping centre in Guia, Albufeira, opposite the existing Algarve Shopping.

The project is currently with the Direcção Regional de Economia, the regional economic department and is open for public viewing until December 12. This department is located on Estrada da Penha in Faro. For more information, telephone 289 896 600 or email [email protected].

The new shopping centre would be constructed at Quinta de Valverde, Monte da Rosa in the commercial area in Guia, Albufeira. It has been estimated that the new centre will take 36 months to construct once the licenses are issued.

More than 2,000 car parking spaces divided between two levels are included in the design as well as more than 80 shops and a food hall.

This development from Gran Plaza would create 1,900 jobs and has been justified by a market study from SII Sociedade de Investimentos SA, the investments society that characterised Albufeira as having the highest purchasing power in the region as well as registering an annual growth of 15 per cent.

Desidério Silva, President of Albufeira Câmara said that the project has not yet entered the Câmara at any stage. He also said: “There is not the capacity for two shopping centres opposite each other.”

Macário Correia, President of the Comissão Regional de Licenciamento Comercial, the regional commercial licensing commission said: “I am convinced that the promoters would only bet on a project because they are convinced that there will be a return on their investments.”

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