IKEA Centres Portugal, IKEA Group’s global shopping centre company, signed a Leasing and Centre management contract with ROS Retail Outlet Shopping, the Austrian operator of Designer Outlets and innovative outlet shopping concepts, for the Designer Outlet Algarve.
Located in Loulé, the Designer Outlet Algarve is part of the Algarve Commercial Complex, which is IKEA Centres’ Portugal second retail scheme in the country. The Centre, with more than 85,000 sqm, is in the south and most touristic region of Portugal, anchored by an IKEA store, a two-level covered shopping centre, a leisure area as well as an Outlet Village, the Designer Outlet Algarve.
The Designer Outlet Algarve will be one of the highlights of the Algarve Commercial Complex, attracting residents and tourists with 110 shops on 17,000 sqm, build in two phases. Visitors will enjoy great fashion and lifestyle brands with permanent discounts up to 70% compared to the recommended retail prices, all year round.
“We are really proud to be partner of IKEA Centres on this unique project. The catchment and tourism potential of the Algarve provide the perfect conditions for a successful outlet centre. In combination with IKEA, fashion and lifestyle shopping offer and the leisure area it will be the ultimate one-stop-shopping location in Portugal“ says Thomas Reichenauer, Managing Director, ROS Retail Outlet Shopping.
Richard Vathaire, Managing Director South Europe of IKEA Centres, is delighted, too. “We are really happy about the partnership with ROS Retail Outlet Shopping. ROS is an innovative, experienced European operator for the Designer Outlet Algarve, which gives the whole Algarve scheme beside our IKEA store an unique selling proposition.“
ROS started already with the letting process of the Designer Outlet Algarve and will be presenting the project during the MAPIC, Cannes, 18-20 November. Opening is schedulded for Summer 2017.