A new shopping and entrainment destination, the first of the outlet type in Thessaly, is opening its doors in Larissa.
Fashion City Outlet brings fashion and leisure one step from the cities of Larissa, Karditsa, Trikala and Volos, aspiring to establish itself as a new destination for the area’s residents and visitors.
The new outlet, is being developed by Sonae Sierra and Bluehouse Capital, an investment management firm, focusing on developing real estate assets. The two companies have experience in creating and managing shopping and entertainment complexes in Greece and 18 countries worldwide.
Fashion City Outlet is expected to open its doors to the public in autumn 2018. It will, accommodate 70 well-known stores, offering selected clothing and shoe brands, at significantly reduced prices, all year long. Among them, leading Greek and international companies are included, some of which will be operating in the area for the first time.
It will also host leading consumer electronics retailer Media Markt, offering with a wide range of products at the best market rates. The new outlet will also house a Village Cinemas multiplex with three cinema halls, a Volta Fun Town playground, as well as a variety of choices in restaurants and cafeterias.
Sonae Sierra and Bluehouse Capital will invest €9 million for the renovation and renewal of the existing facilities. The new Fashion City Outlet will extend to 20,000 sq m and will have parking with 1,600 spots available for free.
It is located in a prime commercial spot, in the southeast outskirts of Larissa and less than one hour from Volos, Karditsa and Trikala, with a catchment area of 900,000 residents.
RPA Perspective The new outlet will create at least 600 new jobs, for which priority will be given to local residents, while it is expected to commercially boost local market traffic, as it will attract consumers and visitors from the wider region. At the same time, the aim is to create mutual beneficial partnerships with Greek companies who wish to operate in the area, as well as with local clothing, footwear and food businesses.
Nikos Roupakas, Asset Manager of Bluehouse Capital, said: “Fashion City Outlet is a new scheme that combines shopping in affordable prices with multiple entertainment choices, thus offering an integrated experience. It has the potential to become a top shopping and leisure destination for the residents of Larissa and Thessaly.”
Thanos Efthimiopoulos, Managing Director of Sonae Sierra in Greece, said: “We are confident that the development and operation of Fashion City Outlet will benefit both the local market and local community, as well as tourism. We aim to closely cooperate with the region’s businesses, associations and authorities, in order to maximize the benefits for the local economy.”
Sonae Sierra operates from corporate offices in 12 countries providing services to clients in geographies as diverse as Portugal, Algeria, Brazil, Colombia, Germany, Greece, Italy, Morocco, Romania, Russia, Slovakia, Spain, Tunisia and Turkey.
Sonae Sierra owns 46 shopping centres with a market value of about €7 billion and manages and/or lets 83 Shopping Centres with a Gross Lettable Area of about 2.4 million sq m and more than 9,100 tenant contracts. At present, Sonae Sierra has 13 projects under development, including seven for third parties.
Bluehouse Capital is a real estate investment and development firm, with operations focusing in Central and South eastern Europe. Specifically, Bluehouse has a presence in Greece, the Czech Republic, Poland, Hungary, Romania, Bulgaria, Croatia, Serbia, and Cyprus. Its portfolio includes shopping centres in cities of great significance. Specifically, in Greece, the McArthurGlen Designer Outlet, of 21,000 sq m and 100 brands.