Vila do Conde Porto Fashion Outlet will be remodelled with a new 10,000 sq m extension which will add 31 new stores and space for four restaurants around a central courtyard topped by a spectular soaring double height glass covered atrium. The gross lettable area at the outlet will increase by 6,500 sq m bringing total GLA to 31,000 sq m. Outside the covered mall, new gardens will feature fountains and a lake bordered by trees, where guests can relax and enjoy the native planting. Work will start on the project in April 2024 and follows on from a 13 million Euro remodelling project carried out in 2021.
“All our properties in Spain and Portugal have been performing excellently, recording double-digit growth in brand sales and visitor numbers, due particularly to the strong resurgence in tourism. But the Porto region also stands-out because of its broad-based economic dynamism supported by high inward foreign investments that have lifted local living standards,” said Otto Ambagtsheer, VIA Outlets CEO.
“We are investing heavily in the spectacular remodelling of our Vila do Conde Porto centre to further boost its prime positioning as the only premium fashion outlet in northern Portugal, making it a highly attractive retail destination for our brand partners and guests alike, as well as creating 300 new jobs in the local community,” he added.
The earlier remodelling at Vila do Conde, in line with VIA Outlets 3-R strategy of remodelling, remerchandising and remarketing, attracted 25 new brands to the fashion outlet, including Under Armour, Karl Lagerfeld, Rituals and Longchamp, with some labels including Michael Kors, Guess, Levi’s and Boss opening their largest stores in Portugal.
Sustainability, a core tenet of VIA Outlets’ operations, has been integrated into all aspects of the project, from the materials being used to energy efficiency measures and the company is looking to secure the highest-rated BREEAM ‘Excellence in Construction’ sustainability certification upon completion of the works. In 2023, some 962 photovoltaic panels were installed at Vila do Conde as part of a broader sustainability plan and the property was also recently recertified by BREEAM as having the maximum rating possible in the ‘Outstanding In Use’ category – placing it within the top 10% of commercial buildings internationally in this classification.
In 2023, non-European tourism increased by more than 30% (Tax Free) for both VIA Outlets’ centres in Portugal, at Porto and the Freeport Lisboa Fashion Outlet, with visitors from Brazil, Angola, Mozambique, the United States and China topping the list of nationalities.
In recent years, Porto and northwest Portugal, which is home to over 4.3 million people and over 40% of the country’s workforce, have experienced an economic revival driven mainly by growth in tourism, foreign investment and entrepreneurship. Today, the region positions itself at the forefront of technology and innovation hosting world-class companies, start-ups universities and research centres, with more than 22,000 jobs created by foreign direct investment (FDI) in the last five years. In 2023, the Financial Times’ ‘European Cities of the Future’ ranking, placed Porto first as Europe’s best large city for FDI.
