Sonae Sierra, through its subsidiary, Sonae Sierra Brasil, has announced the expansion and refurbishment of Franca Shopping, located in the state of São Paulo, in a total investment of about €31m (R$96m), including the acquisition of the site for the centre’s expansion.
The expansion of Franca Shopping will increase and improve the shopping centre’s commercial and leisure offer with 68 new shops, including 4 large dimension shops and 649 new parking spaces in about 11,000 m2 of new GLA, enabling the centre to almost double its offer to 30,000 m2 of GLA after the expansion is concluded.
The shopping centre will also undergo a refurbishment process which will create a new ambience and improve the visitting experience for its customers.
Construction works for expansion and refurbishment will begin still this year and are scheduled to be completed in the last quarter of 2014.
The acquisition of a 45,466 m2 site which will enable the expansion includes 29,053 m2 for the Centre and parking lot expansion and the remaining 16,413 m2 for future multipurpose projects.
