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29 January 2019 – Eje Prime
Lar España is pushing ahead with its plan to reign in the Spanish retail sector. The Socimi, which launched a €500 million investment project last year, to run until 2021, is continuing with its roadmap with three new projects in 2019. The company is planning to build one new complex this year, renovate one of the jewels in its crown, Anèc Blau, and open its new centre in Sevilla, Lagoh, at the end of the year.
Specifically, the company is going to dedicate €13.8 million to the renovation of Anèc Blau, a shopping centre located in Castelldefels (Barcelona) and which is one of the company’s best assets. The objective is to start to renovate it this year without closing the centre’s doors.
On the other hand, Lar España is preparing a new development for this year, although its location has not yet been revealed, according to Hernán San Pedro, the Socimi’s Director of Investor Relations, speaking to Eje Prime.
The third workstream of Lar’s plan for this year is the announced opening of its new complex in Sevilla, Lagoh (previously called Palmas Altas), which is going to have a surface area of 25,000 m2 and which has already reached an occupancy rate of 70%. “Experiences are going to form the centre of the complex, with a golf course, a climbing wall, a lake and a garden on the roof”, says the executive.
Lar España is planning to disburse almost €500 million between now and 2021, of which €265 million will be dedicated to building new complexes and improving existing centres and another €250 million will be for new acquisitions (…).
Original story: Eje Prime (by I.P.G.)
Translation: Carmel Drake