Sonae Sierra, the international shopping center specialist, and McArthurGlen, Europe’s leading owner, developer and manager of designers outlets, have signed an agreement to develop a Designer Outlet in the southern Spanish city of Málaga.
McArthurGlen Designer Outlet Málaga, a €115-million development, will be the first designer outlet in southern Spain, offering 30,000 m² of gross lettable area once fully opened.
The center will be developed in two phases: the first phase will include 17,000 m² of retail space (or GLA), and the second phase an additional 13,000 m². The first phase will open in 2017, with works due to start in the second half of 2015.
In the first phase, Málaga Designer Outlet will offer around 90 stores of the most sought-after luxury and premium brands, both international and local, in a village-style setting. The center will reflect McArthurGlen’s signature attention to detail, with luxury plazas, tree-lined avenues and walkways, fountains and artwork, inspired by the local design and style of the Andalusian region.
The Designer Outlet will be located adjacent to the Plaza Mayor Leisure Park & Shopping Centre, owned by the Sierra Fund and managed by Sonae Sierra. Plaza Mayor is Málaga’s most-visited shopping center. It offers 143 stores and restaurants, and 3,200 parking spaces. The center welcomed nearly 9 million shoppers in 2013 and registered more than €95 million in sales.
Fernando Guedes Oliveira, CEO of Sonae Sierra, says: “This major project is part of Sonae Sierra’s strategy of growth and enhances the presence of the company in the Spanish market. With this initiative, Plaza Mayor reinforces its position as a commercial and leisure benchmark in the Málaga area. In addition it enhances the quality of its retail offer thanks to an important investment that is going to generate 1,000 new jobs when fully developed.”
This follows the signing of an agreement between Málaga City Council and Sonae Sierra to enlarge the Plaza Mayor Shopping Centre, enabling the integration of the Shopping Centre with the Leisure Park.
Source: Sonae Sierra