What will be northern Spain's biggest shopping park will includea 320,000-sf two-level shopping mall, a 380,000-sf retail park,cinema and factory outlet elements and an 8,000-space car park. Thejoint venture developers hope it will be worth €350 million ($350million) when it opens in 2005.

Assetalia chairman Paul Whight commented: 'The scheme can belikened to the Metro Centre in Northern England, where a majorshopping park managed to regenerate an area that had beendevastated by the closure of coal, steel and shipbuildingindustries.'

Developers expect a commercial permit for the scheme to begranted next month. They have appointed Jones Lang LaSalle asletting agent and Gabitat as project manager.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.