They are large in size, have several shops, and have parking facilities. Retail parks have proven their resilience during the Covid-19 pandemic, and by all indications, they are in a growth route in the country. Those who invest are aware of this commercial format, so much so that the offer should be reinforced in the coming years with more neight projects, in a total of 108 thousand square meters (m2) of accumulated area.
According to data from CBRE, cited by Dinheiro Vivo, currently four projects are under construction and another five are being sold, which should begin construction soon. According to the publication, this year, Estoril Retail Park and Vila Retail Park, in Ponte de Lima, should be inaugurated. The Alagoa Retail Park, in Carcavelos, and the Sudoeste Retail Park, in the Algarve, are scheduled for completion in 2022.
Currently, there are 36 retail parks in operation in Portugal, with a total area of 430 thousand m2, 13 of which in the North region, 12 in the Center and seven in Greater Lisbon. Algarve and Alentejo have two commercial spaces each.
According to Luís Arrais, Director of Retail Property Management Iberia at CBRE, “the retail parks segment was the more resilient asset typology the negative effects of the pandemic. “This was due to the fact, according to the official, that the stores are large,” with greater capacity to receive customers within the measures imposed by the Government of five people per 100 m2, the door open to the outside, and a mix of convenience stores, such as food, furniture, DIY (do it yourself, or do it yourself, in Portuguese) sports or electronics”.