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Seven Firms Bid For the Mestalla Shopping Centre
7 May 2019 – El Economista
ADU Mediterráneo has opened the bidding for the tertiary plots on the site of Valencia CF’s Mestalla stadium, which will span 40,000 m2 in total. The space will be split between 20,622 m2 on the ground floors of the residential buildings and semi-basement (of which up to 9,000 m2 may be offices, 8,000 m2 student halls and 3,500 m2 supermarkets) and another 19,834 m2 known as the Stadium Center, which will be a shopping centre dedicated exclusively to commercial use.
Seven property developers are interested in acquiring the plots. All bar one are already large owners of shopping centres. They include Ceetrus, formerly Immochan (the real estate arm of Alcampo), amongst others.
The negotiations with each one of the interested parties have begun this week and the aim is to sign an agreement with the best candidate in July so that the operation can be formalised in October, at the same time as the cooperative is due to officially purchase the plots of land from Valencia CF.
Original story: El Economista (by Dani Valero)
Translation/Summary: Carmel Drake