Leroy Merlin invests €187M in new Adeje retail park

Leroy Merlin invests €187M in new Adeje retail park

Leroy Merlin, developer of the new shopping area in Tenerife South, is investing more than 187 million euros for the development of the new retail park in Adeje, built on a 100.000 sqm plot of land.

The new retail park will be built in two phases. The first one, under construction, has 30.000 sqm of retail space and 1.150 parking spaces.

This first part of the project involves an investment of more than 67 million euros and is expected to generate more than 850 direct jobs and 140 indirect, which will provide an important boost to the local economy. The commercial action is located in Barranco Las Torres, in the municipality of Adeje.

The second phase of the project, scheduled to open in 2024, will add 33.000 sqm to the retail park, bringing the total built area to 63.000 sqm. This phase will involve an investment of 122 million euros and will generate around 2.300 jobs.

Currently, Leroy Merlin is the developer of several retail spaces in Finestrat, with 23.500 sqm of retail space; in Lliça D'amunt, with 26.300 sqm; in Sant Cugat, with 16.000 sqm; and in Badajoz, with 40.000 sqm. The Adeje retail park also includes the construction of a new Leroy Merlin store. Therefore, the group not only opens a new point of sale for its customers, but also promotes the commercial performance of the area in which the new store is located.

«The new store in Adeje is part of a powerful commercial area of which we are proud to be promoters. This type of large-scale project is a challenge for the company's expansion strategy», says Juan Sevillano, the company's development director. Specifically, Leroy Merlin Adeje is scheduled to open after the summer, will have 150 employees and will generate 50 indirect jobs. The new store will have a commercial area of 11.800 sqm and has involved an investment of 24 million euros.

Thus, this establishment will be added to the four points of sale that the company currently has in the Canary Islands. In addition, Leroy Merlin and the City Council of Adeje have signed a collaboration agreement for the management of recruitment processes.

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