We offer all the tools necessary for landing the full scope of business you really deserve.
Feel free to call us: +34 617 369 878

Lar España Invests €250M To Build Sevilla’s Largest Shopping Centre

Posted by: In: Real Estate 18 Oct 2017 Comments: 0 Tags: , , , , , , , , , , ,
.

18 October 2017 – El Periódico

Lar España has started construction of the new ‘Palmas Altas’ shopping centre in Sevilla. The project will involve an investment of €250 million and will generate around 4,800 jobs during its execution phase and subsequent operation.

The centre, which will open its doors in 2019, represents the largest urban planning investment to have been made in the Andalucían capital for a decade. It is also going to be the most valuable asset in the portfolio of its owner Lar, the Socimi that specialises in shopping centres.

The first stone of the establishment was laid on Tuesday and the centre will be the largest commercial space in Sevilla, given that it will have a surface area of more than 123,000 m2. Moreover, it will have an artificial lake spanning more than 7,000 m2, along with green spaces and cinemas, amongst other facilities.

During the unveiling of the project, the CEO of Lar España, Miguel Pereda, said that the total surface area of the centre, comprising the retail and leisure space will span 100,000 m2 and will house 200 stores and terraces.

Primark and Media Markt

According to the property developers, the supermarket Mercadona has already committed to leasing a space in the new centre, as has the textile firm Primark, which will take over premises measuring 8,000m2; Media Market will occupy another large store. The cinema screens will be operated by the company Yelmo, which belongs to the Cinépolis group.

Moreover, the centre will be completed with a 3,200-space parking lot, most of which will be underground. All in all, the centre hopes to receive around 14 million visitors per year.

Original story: El Periódico

Translation: Carmel Drake

The post Lar España Invests €250M To Build Sevilla’s Largest Shopping Centre appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

LinkedInFacebookTwitterGoogle+PinterestShare

Sorry, the comment form is closed at this time.