It is located on the same plot where the former Portimão Retail Park was destroyed by a fire in 2012
A major new retail development is about to open its doors in the Algarve. The Nova Vila Retail Park, due to open in Portimão on Thursday, May 29, is being described as the largest retail park launch in the Algarve in over a decade.
The new complex houses 16 stores, including well-known international and national brands. Two “anchor stores” stand out: a Leroy Merlin megastore occupying more than 9,000 square meters and featuring a dedicated space for building materials and professional customers, and a large supermarket, whose brand will be revealed soon. Other stores include Action, Flying Tiger Copenhagen, Tienda Animal, and Kik, offering a diverse mix from fashion and electronics to pet supplies and home decor.
The Nova Vila Retail Park is rising from the ashes of the former Portimão Retail Park, just off the EN125 road, which opened in 2006 but was destroyed by a fire in 2012.
This new venture is developed by Belgian real estate investment firm Mitiska REIM, which now manages seven properties in Portugal, as part of its broader European portfolio.
“Our specialised and differentiating approach in the retail park sector ensures that both our tenants and consumers get what they need,” said Enzo Guidez, Mitiska REIM’s Country Manager in Portugal. “Otherwise, we wouldn’t have some of the main operators taking part in all our projects. A successful and excellent performing project, like we hope this one will be, is only possible with the success of everyone involved,” he added.
The €20 million investment is expected to generate over 200 permanent jobs, helping boost the local economy and offering year-round employment, described as “vital” to keep residents in Portimão and help the town grow.
Visitors will also find a food court set around a traditional-style courtyard, a children’s play area, bike parking, a Prio fuel station, an electric car charging station, and 832 free parking spaces.
Sustainability – the buzzword for so many projects nowadays – will also play a key role in the project. From solar panels and rainwater reuse systems to electric vehicle charging stations and native drought-resistant landscaping, the retail park is designed with long-term environmental responsibility in mind.
“Sustainability is a pillar of all Mistika REIM projects, and the Nova Vila Retail Park is no exception,” said Alexander Murch, Investment Associate at Mistika REIM. “We are committed to the goal of achieving carbon neutrality by 2050,” he said.
Meanwhile, the name “Nova Vila” pays homage to the 15th-century name for Portimão, “Vila Nova de Portimão,” while the retail park’s architecture, marked by clean white façades, draws inspiration from the Algarve’s cultural heritage.
