Spain: Green Light for Major intu Costa del Sol Project
The British company intu, which owns and operates numerous shopping centers in the UK and Spain, has just received the green light for its newest major leisure and entertainment project. The new intu Costa del Sol leisure destination will be developed on a ground of 23,5 hectares north of Torremolinos (southern Spain) and will be separated in eight different neighbourhoods. The indoor and outdoor facility, which will cost around 800 million euros, will provide visitors with retail space, over 20 leisure operators, more than 70 restaurants, two hotels, a 5,000-person concert venue and according to intu Spain’s largest urban farm.
“This significant milestone opens the door to the next stage of the project. intu Costa del Sol will be a resort like no other, bringing together international brands and global visitors in an unforgettable location surrounded by the very best in entertainment and leisure. We are having positive discussions with brands eager to join the scheme, as well as potential partners to help bring the project to fruition,“ commented Matthew Roberts, chief executive at intu. By the start of the construction process in 2020, intu wants to introduce a joint venture partner to minimise the company‘s capital outlay. Intu already forecasts 23 million visitors per year for the new leisure and entertainment resort, which is expected to open in 2023. (eap)