In a statement, the promoters of Nova Vila Retail Park say that the structure will integrate 16 stores, on a plot of land measuring eight hectares, “with a priority focus on sustainability”.

The project by Belgian real estate fund manager Mitiska REIM promises to revolutionise the Algarve region, with stores represented by international brands “that will be new in the south of the country”.

The new shopping complex is located next to the National Road 125, about three kilometres from the city of Portimão, on the site of the old Portimão Retail Park, which was destroyed by a fire in 2012.

According to the company, the new structure will create more than two hundred direct and non-seasonal jobs, “which is vital to retain the resident population […], contributing directly to economic development and local employability”, says Enzo Guidez, responsible for Mitiska REIM's operations in Portugal, quoted in the note.

In addition to large stores, the commercial complex offers a gastronomic space, rest and leisure areas, bicycle parking, charging stations for electric vehicles, a gas station and free parking with 832 spaces.

The promoters highlight that the project was developed "with a strong focus on sustainability, aligning with the goal of carbon neutrality by 2050".

Among the various measures adopted to guarantee the environmental resilience of the project, they highlight the use of drought-resistant native plants in green spaces and the use of rainwater for irrigation.

Photovoltaic panels were also installed on the roof and a lighting control system was implemented in the park, aiming to reduce carbon dioxide (CO2) emissions.

“The project reflects the commitment to responsible and long-term environmental practices, contributing to the sustainable development of the real estate sector”, highlights the company.

The note says that the chosen name, Nova Vila Retail Park, originates from the name given to Portimão in the 15th century by King D. Afonso V - Vila Nova de Portimão -, whose architecture, with simple white facades, “also pays homage to the heritage and collective memory of the Algarve people”.

The inauguration of the new space is scheduled for Thursday.