The shopping center, which will be managed by Multi Corporation, opened in October 2007 and was recently bought by the open-ended real estate investment fund CA Património Crescente, a fund managed by Square Asset Management.
With 16,000 sq m GLA, it features 68 stores across three floors and has 850 covered parking spaces and welcomes more than 10 million visitors annually.
In tandem with this change in management, the shopping center has undergone a rebranding process and has been reintroduced to the public as Plaza Madeira as of January 16, 2024.
Plaza Madeira, strategically located in the heart of Funchal, just a 15-minute walk from the cruise port, is a retail heaven for both residents and tourists. Its key tenants, including Worten, Pingo Doce, Massimo Dutti, Sportzone, Cortefiel, Tiffosi and Ikea Plan and Order Studio, make it a vibrant and diverse shopping destination.
“We are excited to take on the property management of this wonderful asset in Funchal,” says Francisco Cavaleiro de Ferreira, Managing Director Multi Corporation Iberia. “With a great team of specialists, we will apply our extensive retail knowledge to maximize the potential of this excellently located asset in Madeira.”