Tag: retail stores

Núñez i Navarro Doubled Its Profits In 2016 To €33.1M

5 September 2017 – Eje Prime

Núñez i Navarro recorded a good set of results last year. The company, the largest unlisted real estate company in Cataluña, saw its profits soar in 2016 to €33.1 million, up from €12.9 the previous year. In this way, the group has returned to growth and is getting closer to its best result ever, recorded in 2007 when it generated a profit of €48.6 million.

The group attributes the increase in its net result to an improvement in its recurrent rental income, a recovery in the value of its assets, which had depreciated during the crisis, and income resulting from a ruling, confirmed by the Supreme Court, which obliged Endesa to indemnify the company for the purchase and sale of real estate in Palma de Mallorca, according to Crónica Global.

By contrast, Núñez i Navarro’s turnover fell in 2016. The company recorded revenues of €110 million, down by 5.1% compared to the same period a year earlier, when its sales amounted to €116 million. The company’s consolidated own funds rose to €595 million.

The group’s business lines include property development and the operation of real estate assets, in particular offices, retail stores, homes, car parks, industrial warehouses and hotels.

The group’s Board of Directors still comprises members of the founding family. It includes Josep Lluís Núñez Clemente, his wife María Navarro Obón and their sons Josep Lluís and Josep María Núñez Navarro.

Original story: Eje Prime

Translation: Carmel Drake

Phalsbourg To Build Macro Shopping Centre In Torrejón

23 December 2015 – Expansión

The French group has purchased a plot of land measuring 138,000 m2 from the Town Hall of Torrejón, where it plans to develop a huge shopping centre.

The French group Compagnie de Phalsbourg, which specialises in the promotion and management of shopping centres, has chosen Spain for its first international adventure. The company, founded by Philippe Journo, has completed the purchase of a plot of land measuring 138,000 m2 in the Madrilenian suburb of Torrejón de Ardoz, where it plans to construct a huge shopping centre. “After more than 20 years of experience in France, we have decided to expand overseas. We have looked at opportunities all over the world, including in: China, Russia, Italy, Romania, etc. In the end, we have decided to invest in Spain because now is the right time here…”, explains Raphael Martin, the Director General of Compagnie de Phalsbourg.

The French group has been awarded this plot of land, which is located next to the Torrejón air base, through a public tender. It will pay €15.4 million (plus VAT) for the site. “We have just completed the land purchase and we want to begin construction at the beginning of April, so that the tenants can begin to move in during 2017 and then open their doors between April and May 2018”, says Martin.

The new shopping centre, called Open Sky, will have a retail surface area of 65,000 m2, spread across 60 stores, plus 2,500 parking spaces. “It will be an open concept containing, for the most part, fashion chains with stores of between 50m2 and 500m2, distributed along a corridor that will run for more than than 1.5km”. Compagnie de Phalsbourg will invest €110 million in the centre and will create around 450 jobs.

This is not the only project that Compagnie de Phalsbourg has underway in Spain. The company is also working on the second phase of this project, which involves the construction of an outlet centre measuring around 22,000 m2, designed by the renowned architect Philippe Starck.

“In total, we are going to invest €170 million, plus the amount that the brands will spend opening their stores. Up to 800 people will work at our complex in Torrejón”.

In addition, the French group, which owns assets worth €1,200 million, is evaluating other projects in the Spanish market. “We are looking at other locations in Madrid, Barcelona and the País Vasco”.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake