CBRE: Shopping Centre Construction Soars with 30 New Sites Planned By 2020

5 July 2018 – Voz Pópuli

The market for the construction of shopping centres is soaring again. In Spain, there are currently 18 projects under construction with a combined gross leasable area (GLA) of 650,000 m2 and another 12 assets in the pipeline, spanning another 648,000 m2. That brings the total surface area to 1.3 million m2 across 30 projects between now and 2020, according to data from CBRE.

Although it is still too soon to talk about pre-crisis figures (when 800,000 m2 of retail space was constructed per year), the reality is that the sector is growing at rates that have not been seen since 2009.

Last year, five new shopping centres were inaugurated with a combined gross leasable area of 211,000 m2 and a surface area of more than 30,000 m2 each. Highlights included shopping centres in Madrid (Plaza Río 2), Gran Canaria (Alisios) and Melilla (Parque Melilla), the first ever shopping centre in the autonomous city.

In Spain, although there is a high density in general terms, there are still cities with a shortage of retail space. For example, Lleida lacks any offer and so there, Carrefour Property is promoting a new 55,000 m2 complex, which has secured demand from many retailers that do not currently supply that market. Nevertheless, the majority of the developments currently underway are located in Madrid, Sevilla and Barcelona.


Another trend is for the renovation of existing complexes. During the crisis, the people responsible for retail premises were more concerned with surviving than with renovating their spaces. Now, refurbishments are being carried out in several shopping centres, led by huge firms such as Carrefour Property, Carmila and Merlin.

With the arrival of the internet, shopping centres have had to adapt and they are now looking to offer differentiating experiences to become meeting places and social spaces for communities.

The restaurant sector is the horse pulling the cart, given that the sales of traditional fashion is stagnating. Previously, the sector sought out fast-food operators but now restaurants are becoming attractions in their own right.

Original story: Voz Pópuli (by David Cabrera)

Translation: Carmel Drake

Carrefour Property Manages 20% of Spain’s Retail Space

2 April 2018 – Eje Prime

Carrefour Property is continuing to expand its map of shopping centres in Spain. The real estate subsidiary of the French distribution group has started the second quarter of the year with a portfolio of retail space under management spanning more than 2.6 million m2. That figure represents 20% of the total surface area of shopping centres in Spain.

The long list of retail plots controlled by the subsidiary of the Carrefour giant has increased in recent months with the management of the following centres: Gran Vía de Hortaleza (Madrid), Puerta de Alicante, Augusta (Zaragoza) and La Verónica (Málaga) in recent months, according to a statement issued by the company.

In total, Carrefour Property España manages 110 centres throughout the country: 82 centrally and the remaining 28, all of which are large shopping centres, through specific teams at each site.

The company’s Director of Shopping Centres, Antonio Fidalgo, stressed that “the management of retail spaces is one of the most important areas of our business, given that we not only manage our own centres, we also manage centres owned by other companies such as Merlin Properties, Klépierre, Carmila, Grupo Lar and Pradera, amongst others”.

Original story: Eje Prime

Translation: Carmel Drake

Primark Buys New Flagship Store In Mallorca From Carrefour Property

31 March 2017 – Eje Prime

The Irish company has completed the purchase from Carrefour Property of a space where will open its flagship store in Palma de Mallorca, located in the Fan Mallorca Shopping Centre. The establishment has a commercial area of 5,700 m2, spread over two floors.

Primark’s flagship store in Palma de Mallorca will be the operator’s third large-format store in Spain. It will be exceeded in size only by the establishment that the firm has on Calle Gran Vía in Madrid and by the store it has in Granada.

Fan Mallorca Shopping, which opened its doors on 22 September 2016, involved investment of more than €190 million to secure more than 112 stores, housing international and domestic brands, such as H&M, Mango, C&A, Cortefiel, Sfera, Women’secret, Springfield; and operators such as Decathlon, Media Markt, Samsung, Artesiete Cines, Starbucks, VIPS, La Tagliatella, Udon, Pandora, Jean Louis David and Dock 39, amongst others.

The shopping centre, which generated 1,500 direct jobs and 2,000 indirect positions, has a constructed surface area of 170,000 m2 and a commercial area of more than 72,000 m2 (gross leasable area), plus 2,800 parking spaces.

Original story: Eje Prime

Translation: Carmel Drake