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Neinver To Invest €80M In A New Shopping Outlet In Barcelona

9 April 2015 – Expansión

Construction work will begin on a new fashion outlet in Viladecans (Barcelona) in May. The project will require an investment of €80 million and will create around 600 direct jobs and up to 400 indirect jobs during its first phase.

The developers of the project, dubbed Viladecans The Style Outlets, are the real estate group Neinver, which specialises in shopping centres and outlets, and the fund manager TIAA Henderson Real Estate. The two companies signed an agreement in January to invest jointly (50% each) in projects such as the one in Viladecans. The plot where the future outlet will be constructed was acquired last December from Incasol (the Catalan Land Institute or Instituto Catalán del Suelo) for €24.5 million. Around 130 shops will be opened during the project’s two phases.

Original story: Expansión (by M. Anglés)

Translation: Carmel Drake