A BRITISH development firm plans to open a huge shopping and leisure complex near Torremolinos (Málaga province) within the next three years.
Intu Properties has already bought the Puerto Venecia complex in Zaragoza, said to be the largest shopping centre in Europe since its opening in October 2012 and home to everything from El Corte Inglés department store through to Ikea, Zara, Leroy Merlin, Decathlon, Media Markt and Apple Store, as well as the mammoth Parque Principado retail centre in Lugones, Asturias.
Both acquisitions were made last year at a cost of €613 million, as part of Intu's plans to dominate the shopping centre circuit in Spain through a total investment of €2.5 billion.
The group's next major operation is focused on the Costa del Sol, and will involve the €41m purchase of land near Torremolinos from its current owner, Peel Group.
If Intu is able to close the deal in the next few weeks, work will start imminently and the shopping centre could be open by as early as summer 2018.
The total investment by the UK-based company is said to be in region of €250m.
Photograph: Puerto Venecia in Zaragoza, Europe's largest shopping centre, also owned by Intu Properties (Wikimedia Commons)
