This new shopping centre will be built under the structure of the current Arroysur shopping centre, according to a release from the company. This 170.000 sqm space should begin its full renewal on the 31st of July, in an investment estimated at 100 million euro. According to Spanish newspaper El país, the group will pay half this amount and the 150 brands which are part of this project will pay the other half.
With this new project, the Spanish group will create « a new cutting-edge concept for innovation in shopping centres offering new experiences where you not only buy, but feel, live, enjoy and share», it can be read in the same document.
The expansion of this concept to other Spanish cities is also in the group’s plans, which with this project alone should generate between 800 and 1.000 new jobs in the country’s capital.