Lisbon is the capital city of Portugal and its main business destination. The greater metropolitan area is the most densely populated area in the country with 2.8 million inhabitants. The city enjoys a privileged river side setting, facing the Tagus River and the Atlantic Ocean, and is a growing tourism destination in the international scene, popular not only due to its rich history and cultural & leisure points of interest, but more recently as a strong retail destination.

High street retail has gained relevance in recent years, with Avenida da Liberdade and Chiado as prime locations. Brands such as Prada, Hugo Boss, Louis Vuitton, Bulgari, Armani Exchange, Gucci, Hackett, Guess, Michael Kors and Cartier have units in these areas. The Baixa area, which in the past was mostly focused towards traditional retailers, is now attracting international brands such as H&M, Fred Perry and Tiger.

Shopping centres are the most sought after concept among Portuguese shoppers. There are a number of well-established retail schemes in and around Lisbon, including some of the most modern and innovative developments in Europe. Retail schemes in the region have a total stock of circa 1 million sq.m of GLA, of which 925,000 sq.m are shopping centers.

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AVENIDA DA LIBERDADE : 38.722040, -9.146565
CHIADO: 38.710764, -9.139981
BAIXA: 38.711768, -9.139380
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Avenida da Liberdade offers a brand’s value proposition as a top retail destination in Lisbon. It is synonymous with luxury and prestige, which makes it the preferred address in the city for exclusive national and international brands. Over the past 8 years approximately 60 new brands opened in Avenida da Liberdade such as Cartier, Michael Kors, Prada, Guess, Tumi, Versace, Pinbko, Bulgari, Samsonite and Hackett.
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Chiado is Lisbon’s trendiest district and frequented by a broad range of locals, tourists, and culture and art enthusiasts. It’s located a short walking distance from Avenida da Liberdade. The main retail streets are Rua do Carmo and Rua Garrett, where retailers such as Hermés, Benetton, Tous, Nespresso, Amorino, Zara, Tiger, Muji, Brandy Melville and Hugo Boss are present.
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Baixa is the traditional retail area in Lisbon. Throughout time it has become somewhat decadent, but in the past few years, mostly due to tourists who visit this area, it has regained its place in the retail scene of the city. Mass market brands are dominant and it features a good number of international brands like H&M, Zara, Mango, Tiger, Kiko, Adidas, Women´s Secret and Springfield.

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AMOREIRAS SHOPPING CENTER : 38.723907, -9.162637
VASCO DA GAMA SHOPPING CENTRE : 38.767540, -9.097177
COLOMBO SHOPPING CENTRE : 38.754444, -9.188611
CASCAISHOPPING: 38.738172, -9.398988
Almada Forum: 38.660570, -9.177190
OEIRAS PARQUE: 38.704680, -9.302172
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Opened in 1997 as the largest shopping centre in Portugal, it consists of over 350 shops that total approximately 120,000 sq.m of GLA. Main anchor units include: Primark, FNAC, Zara, H&M, Worten, Area and Sportzone. Continente hypermarket sums approximately 29,500 sq.m of GLA (17,500 sq.m of sales area), which is also one of the main attraction points of this shopping centre. It also has a 10-screen Lusomundo cinema and 6,300 paid parking spaces, arranged over 3 floors. Colombo is one of the most emblematic retail schemes in Portugal, and despite the fact that it opened 20 years ago it´s still one of the best performing schemes in the country.
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Centro Vasco da Gama is located in Parque das Nações. Opened in 1999, this shopping centre consists of 168 shops totaling approximately 48,000 m² of GLA. Main anchors are: FNAC, Zara, H&M, Cortefiel, Worten, Sportzone and a Continente hypermarket. It has a 10-screen Lusomundo cinema and 2,583 paid car parking spaces, arranged over 3 floors. Together with Centro Colombo, Centro Vasco da Gama is one of the most successful shopping centres in Portugal. Parque das Nações is a business, leisure, commercial and residential area, covering an extensive area in north-eastern Lisbon next to the Tagus estuary, formerly used mainly for industrial purposes. The area underwent a tremendous transformation in the 1990’s when it was chosen as the location for the Expo '98 World Exhibition, and soon after to become a major success and a case study in urban regeneration.
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Opened in 1991, CascaiShopping is located close to the city of Cascais. Currently offers a total GLA of circa 74,000 sq.m over 202 retail units. The food anchor is a Continente hypermarket unit with circa 22,000 sq.m. GLA. Other anchors are FNAC, C&A, Worten, Conforama and Sportzone. As leisure anchors the scheme offers a multiplex cinema and a food court with circa 40 restaurants. CascaiShopping is located on the outskirts of Cascais, and is well served by road infrastructures such as the A16, a highway connecting Cascais (through the A5) to Sintra and the North.
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Almada Forum was inaugurated in 2002 with circa 80,000 sqm GLA. Located in the municipality of Almada, at the south shore of the river Tagus and few minutes’ drive from downtown Lisbon, this scheme is the third largest in Greater Lisbon and one of the best performers in the region. The centre is anchored by a Jumbo hypermarket (21,000 sqm GLA), FNAC, Zara and Sportzone. The centre also offers a substantial food court and a 14-screen cinema operated by Lusomundo. Car parking is free for approximately 5,000 vehicles at the basement level.
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Oeiras Parque is a 34,500 sqm GLA shopping centre situated in Oeiras, a municipality bordering the city of Lisbon. Enclosing 163 shops on 2 levels, this shopping centre was inaugurated in 1998. The centre is anchored by a Continente hypermarket (17,500 sqm GLA), Zara, Sportzone and Massimo Dutti. The centre also offers a substantial food court and a 7-screen cinema operated by Lusomundo. Car parking is free for approximately 2,800 vehicles and at the basement level.
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Opened in 1985, this shopping centre has a total of 26,200 sqm of GLA and over 200 retail units. As main anchors it has an Auchan “Pão de Açúcar” supermarket (with 3,200 m² of GLA), Box, Area, Zara and Sportzone. It features a 10-screen Lusomundo cinema and 1,000 paid parking spaces. Amoreiras shopping centre was one of the first modern shopping centres to open in Portugal, with over 30 years of operation, it continues to attract shoppers within the Lisbon market.


Avenida da LiberdadeTourists, CBD office workersPrada, Hugo Boss, Ermenegildo Zegna, Louis Vuitton, Longchamp, Armani, Loewe, Furla, Burberry, Trussardi, Mont Blanc, Rosa Clará, Pronovias, Carolina Herrera, Purificación GarciaVersace, Bulgari, Pinko95 €/sq m/month
ChiadoTourists, local shoppersZara, Fnac, Bershka, Stradivarius, Blanco, UCB, Hermés, Diesel, Marc by Marc Jacobs, Lanidor, Globe, Adolfo Dominguez, Nespresso, Massimo Dutti, Nike, Muji, Levis, Sacoor, Pepe Jeans, H&M, Bertrand (book shop), ImaginariumTiger, Brandy Melville115 €/sq m/month
BaixaTourists, local shoppers, workersZara, Stradivarius, Zara Home, H&M, Calzedonia, Intimissimi, Tezenis, Bijou Brigitte, Parfois, Solaris, Mango, Leya (book shop), UCB, Foreva, Springfield, Seaside, Perfumes & Cia., Fred PerryKiko, Adidas80 €/sq m/month
Colombo Shopping CentreLocal shoppers, workers and touristsZara, Primark, Fnac, Bershka, Stradivarius, Lanidor, Massimo Dutti, H&M, Loja do Gato Preto, C&A, Imaginarium, Mango, Zara Home, Area, Billabong, Sportzone, AkiKiko, Jo Malone, Bobby BrownN.A.
Vasco da Gama Shopping CentreTourists, local shoppers, workersZara, Fnac, Bershka, Stradivarius, Lanidor, Massimo Dutti, Nike, H&M, Loja do Gato Preto, C&A, ImaginariumCK Underwear, Zara Home, Lion of porchesN.A.
CascaiShoppingLocal shoppers, workersFnac, C&A, Worten, Bershka, Foot Locker, Lacoste, Springfield, Zara, Uterque, Massimo Dutti, Furla, Eric KayserCK Underwear, Tiger, ArcadiaN.A.
Almada ForumLocal shoppersFnac, Zara, C&A. New YorkerOVSN.A.
Oeiras ParqueLocal shoppers, workersZara, Worten, Sportzone, FnacNespressoN.A.
Amoreiras Shopping CentreLocal shoppers, workers and touristsZara, Bershka, Gant, Guess, BCBG, Sportzone, Timberland, Sebago, Furla, Lush, McDonalds, Area, Zara Home, Pull & Bear, Uterque, MangoMerrel, Tiger, InglotN.A.

Data as of July 2017

The food & beverage sector in Lisbon has evolved positively over the last few years, and mostly driven by growing tourist demand in the city. Along with a strong growth in the variety of restaurants, with many new units opening in Baixa, Cais do Sodré and Bairro Alto, there has also been an increase in the quality of the F&B offerings. Apart from the traditional F&B hubs of Baixa, Chiado and Bairro Alto, other niche areas in the city are also gaining relevance as fashionable locations for night-time destinations and fine dining, such as: Principe Real and the Cais do Sodré.

More recently, there has been a new trend to refurbish old food markets, with a couple of good examples spread across Lisbon, including a mix between market and food court, mixing traditional and modern retail in the same place. Time Out magazine opened its first Food Hall in Lisbon in 2014. The Time Out Market Lisboa is located in Mercado da Ribeira at Cais do Sodre and has 24 restaurants, 8 bars and 12 shops selling regional specialties, with the original market stall holders occupying around half of the remaining space.

Bairro Alto
Tourists, localBistro Sem Maneiras, Nood, Largo, Cantinho do Avilez, Tavares Rico, Vitaminas, Bairro do Avilez60 €/sq m/month
25 to 35 €/sq m/month (Bairro Alto)
BaixaTourists, localAmorino, Padaria Portuguesa, Kakaoland, Subway55 €/sq m/month
Parque das Nações Tourists, local shoppers, workersMcDonalds, Honorato, Café & Té, Padaria Portuguesa18 to 23 €/sq m/month
Doca de BelémTourists, localDoca de Santo, Irish Pub, Las Brasitas, Café In, CapricciosaN/A
Cais do Sodré & surroundingsTourists, local, workersIrish Pub, Segundo Muelle, 100 Montaditos, Vitaminas, H325 to 35 €/sq m/month
Principe RealTourists, local100 Montaditos, Cevicherie, Padaria Portuguesa, Gin Lovers, Zero Zero 30 to 40 €/sq m/month
Food MarketsTourists, localReconversion of old traditional markets into new trendy F&B destinations: Mercado da Ribeira, Mercado de Campo Ourique, Mercado de AlgésN/A

Data as of July 2017

Lisbon Contacts

Sandra Campos, MRICS

Partner, Head of Retail
Direct:  +351 21 322 47 62
Office: +351 21 322 47 57
Mobile: +351 91 451 80 05