Domingos Nieva buys a shopping center in Porto for 28 million euros

The Domingos Névoa Group, of Braga, has bought the Shopping Cidade do Porto, for €28 million, from the Teixeira Duarte Group, it was announced today.

And the Braga company explained, in a statement, that this is “the third investment of its kind within a year, after the purchase of the Braga Retail Center and Mira Maya Shopping Center, at the end of 2021, in which more than 20 million euros were invested. They join the assets in the existing portfolio in Biga and Darkie (Viana do Castelo).

“Last year, we indicated our intention to be champions in this business segment. The acquisition of the Shopping Cidade do Porto and its car park is an important step in the strategy set out, not only for what it represents in terms of business but also for the social and economic dynamics of Invicta,” he says. Bruno Névoa, CEO and shareholder of the Domingos Névoa Group, confirmed, quoted in the statement.

Domingos Névoa Group, a multi-sector national company, based in Braga, operates in the areas of automotive distribution (Mercedes-Benz, Smart, Jaguar, Land Rover and Ford dealerships), real estate development, civil construction, shopping centers (manager and owner) and environment (water and waste ), car parks and hotels. It is one of the main references in some of the sectors in which it is present.

Opened in 1994, the Cidade do Porto shopping center, a few meters from the Boavista roundabout and Casa da Musica, is part of a real estate complex consisting of offices, a hotel and covered parking for 560 spaces, and is close to important cultural and cultural attractions. Tourist centers, residential centers, universities and important road hubs.

The shopping center has about 15,000 square meters of leasable space, spread over four floors, and houses a total of 90 stores, among which are “anchors” such as Zara, Supermercado Froiz, Decathlon, Fitness Hut, Livraria Bertrand, Cortefiel, McDonald’s and national brands and other famous international.

Photo: Dr

The shopping center received a total of 3.4 million visits in 2022, which is an increase of 48.6% compared to the epidemic year of 2021.

According to the data provided by the management team of the shopping center, the previous year allowed global sales (with VAT) to be recorded in excess of 35 million euros (44.4% more than in 2021).

Photo: Dr

Photo: Dr

Souza Ribeiro, managing director of the Domingos Névoa Group in this business area, revealed that in the “coming months”, “work will be done on the renewed vision” of the shopping center that will be presented “at the right time”, says the person himself responsible for.