La Finca will invest €40M on the construction of a shopping centre

La Finca will invest €40M on the construction of a shopping centre

La Finca has started construction works to build shopping centre La Finca Grand Café, a 10.000 sqm area dedicated to retail and food in Pozuelo de Alarcón.

This is the only shopping centre in Europe to be built during the pandemic and it broke up with a tradition from this segment, which was severely punished by the sales drop, the lockdown and the sector’s delays on most projects expected to be concluded this year. 

Shopping centre Finca will open in 2023, 100% occupied, in a 40 million euro investment which will generate 350 direct jobs.

The commercial offer will be directed towards satisfying the needs of the more than 600.000 local consumers who live and work within a radius of less than 15 minutes by car. If we increase that radius to 30 minutes, that offer will reach 2.8 million consumers.

This is the only shopping centre under construction in Europe since the beginning of the pandemic.

Apart from the daily proximity offer directed towards the local public, such as the supermarket, beauty parlours, gift shops and jewelleries, La Finca Grand Café will also have a full food offer. 

American fund Värde placed its share of Finca Global Assets, owner of the shopping centre with the same name, on sale. The company owns 38% of the shares of the REIT controlled by family Cereceda. 

La Finca has nine office assets located in prime areas, in Madrid. One of these assets is the business park under the same name located in Pozuelo de Alarcón (Madrid). At the end of 2019, the company’s value was estimated at 790 million euro.

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