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Spain - Shopping centers attract foreign investment

Spain - Shopping centers attract foreign investment

Publicerat av Cecilia Helland onsdag, 22 april 2015.

Spanish shopping centers are attracting foreign investment according to the balance sheet of the Spanish Association of Shopping Centers and Retail Parks (AECC).

Sales grew 5% in 2014 compared to the previous year, attracting the attention of investors.

Last year transactions reached 2.5 billion euros, more than four times the 2013 figure. According to the AECC, a total of 24 transactions were made, which affected 34 of the 545 shopping centers present in Spain at the end of the year. 70% of the investment came from outside Spain.

2015 seems to follow that trend, with fresh news of foreign investments in Spanish shopping centers. Investment reached 490 million euros in the first quarter of 2015.

Among other transactions, the British company Intu Properties, which, last December, acquired the Puerto Venecia shopping center and attached retail park in Zaragoza for 451 million euros, has ongoing projects in both Vigo and Valencia.

With a planned opening in 2017, another investor, the French group Société Générale Immobilière, has begun marketing Plaza Río 2 just next to the Madrid Río park by the Manzanares river in Madrid. Société Générale Immobilière will manage the shopping center, the construction of which has not yet begun, through Sociedad de Centros Comerciales de España, which it owns.

Another French capital group, Klépierre, recently bought the Plenilunio shopping center, which comprises 70,000 square meters over three floors and a total of 230 stores.

Spanish shopping centers and retail parks bring together more than 33,000 traders that increased their workforces by 2.6% in 2014, currently employing 327,000 people.

Source – Invest in Spain

Publicerat av

Cecilia Helland

Ansvarig skribent på Etablering Utomlands.

spanien

Klockan i Madrid, Spanien

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