Sonae Sierra develops shopping centre in Spain with IKEA

Sonae Sierra, the real estate unit of conglomerate Sonae SGPS, is developing a shopping centre project with Sweden's furniture group IKEA in Granada, southern Spain, Diario Economico reported, citing Sonae Sierra CEO Alvaro Portela. Sonae Sierra owns 46 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a gross leasable area of over 1.7 mln square metres, which registered 402 mln visitors in 2006. The company is currently developing 13 new projects in Portugal, Spain, Germany, Greece and Brazil.