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Merlin To Invest €15.2M Renovating Valencia’s El Saler Shopping Centre

Posted by: In: Real Estate 24 Oct 2017 Comments: 0 Tags: , , , , , , , , , , ,
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24 October 2017 – Expansión

Merlin is going to undertake improvements at its shopping centres on the basis that it considers that e-commerce “is not going to kill the physical shopping experience, but rather transform the way it is done”.

In this way, the Socimi is committed to improving its shopping centres to bring them into line with visitors’ current tastes. In its opinion, the “new era” of shopping centres will attract visitors on the basis of convenience and experience.

To this end, it is committed to expanding its centres’ areas of activity beyond just shopping, to include experiences. In line with this strategy, one of its major investments currently underway involves the shopping centre it has acquired in Alcorcón (Madrid), known as ‘X-Madrid‘. There it will invest €31.8 million to convert the retail space into a leisure centre for experiences, where visitors will be able to go diving, surfing and climbing.

Moreover, the Socimi advocates the integration of shopping centres with e-commerce, including the constitution of marketplaces, housing collection points for online purchases from Amazon and Correos, as well as pop-up stores and temporary shops.

Merlin’s other notable investments in this segment include the €21 million it is spending on the complete renovation of the Larios Centre in Málag; the €3.8 million it will use to improve the façade and common areas of the Arturo Soria shopping centre in Madrid; the €15.2 million that will be used to renovate El Saler in Valencia; and the €16 million it will invest in the Porto Pi shopping centre in Palma.

Original story: Expansión

Translation: Carmel Drake

The post Merlin To Invest €15.2M Renovating Valencia’s El Saler Shopping Centre appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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