Mitiska REIM, investor in European convenience real estate, has announced the opening of Nova Vila retail park, a new development located in the city of Portimão in the Algarve region of Portugal.
Developed on behalf of the FRI 2 fund, the new retail park has a gross leasable area (GLA) of approximately 23,000 square meters spread over 16 retail units. The retail park is fully let and anchored by a Leroy Merlin DIY store and a major supermarket not yet present in the Algarve region which is scheduled to open in the coming months. Other main tenants include Hôma, Rádio Popular, Jysk, Action and Flying Tiger, with a Burger King restaurant planned to open in the summer.
The retail park is conveniently located 3 kilometres from the city center of Portimão, next to National Road 125, with parking for 832 cars and is accessible by bicycle and public transport.
Source: press release sent on the 4th of June