Multi and Commerz Real: 20 years of committed and strong partnership

Strong relationships characterize the 20th anniversary of the intimate Armazéns do Chiado shopping centre in the historical heart of Lisbon, Portugal. This is reflected in the long standing partnership of its property manager Multi Corporation (Multi) and owner Commerz Real and the presence of numerous tenants from the first hour, including Fnac, Sephora, Natura, and Body Shop. It is an example of Multi’s commitment to the long-term viability of the shopping centre, initially as a developer and as property manager since it was opened in October 1999.

Rüdiger Dany, Chief Operations Officer at Multi Corporation said: “Multi is proud and grateful to Commerz Real for 20 years of trust, unwavering commitment and great partnership. Our partners and customers are our primary concern. Through continual modernisation, aesthetic transformations and new stores, Multi has succeeded in enhancing the user experience for two decades to the pleasure of 150 million visitors. We look forward to our continuing cooperation with Commerz Real.”

Mario Schüttauf, manager of the Hausinvest fund at Commerz Real, said: “Our 20-year partnership with Multi indicates our trust in the knowledge and experience of Multi’s retail real estate experts. We are very satisfied with their active and professional approach, and their commitment to continuously looking for ways to optimise the value of our centres.”
In addition to Armazéns do Chiado, Multi manages four other shopping centres for Commerz Real, including FORUM City Mülheim in Germany, Forum Algarve in Portugal, Espai Gironès in Spain, and Forum Bornova in Turkey.

Armazéns do Chiado

Armazéns do Chiado shopping centre was the result of a complete reconstruction of one of the most important historical landmarks of the old city centre of Lisbon; the former Grandes Armazéns do Chiado. This stylish shopping complex, built behind the listed façade, spans six floors with a rental area of 14,000 sq.m, accommodating 55 specialty stores and an elegant dining area, offering a panoramic view over the city centre.

150 million visitors

Since opening its doors 20 years ago, Armazéns do Chiado has welcomed over 150 million guests. Adjoining the famous Baixa district, the complex is one of the most popular spots in the retail core of Lisbon, combining well-known national and international fashion and lifestyle brands and a variety of casual and fine dining options. Through continual modernisation, aesthetic transformations and new stores, Multi has succeeded in enhancing the user experience for two decades.
In June 2019, the shopping centre won the ‘Urban Integration’ award from APCC (Portuguese Council of Shopping Centres), which is a solid confirmation that the qualities of Armazéns do Chiado are still highly appreciated after 20 years.

Festive programme

On Thursday 24 October, the centre will welcome community, dignitaries and other guests to attend a festive premiere of a retrospective film of the centre’s history, together with a concert by Fado singer Raquel Tavares. The event helps kick off other birthday celebrations, which will include numerous activities, entertainments and promotions throughout the weekend.