Intu Costa del Sol gets key approval, retail 'resort' to open in 2023
today Sep 18, 2019
UK shopping malls giant Intu announced Wednesday that it has been awarded a General ‘PGOU’ License (Plan General de Ordenación Urbana) for its ground-up development Intu Costa del Sol in Spain.
The ambitious development will be a resort with a retail focus and plenty of leisure options to attract footfall.
This “significant milestone” paves the way for the project to now progress to its next stage, with preparatory works due to start next year, the company said.
The 2.5 million sq ft (235,000 sqm) €800m retail and leisure resort is claimed to be the first of its kind and is intended to combine “world-class experiences in an outstanding environment with the very best in hospitality, leisure and retail.”
CEO Matthew Roberts said it will “bring 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.”
The company plans to work with a joint venture partner at the start of construction together with using development finance to minimise its capital outlay on the project.
The complex itself is set to open in 2023 and is strategically positioned on a major site to the north of Torremolinos, with easy road access and just 3 km from Malaga’s international airport. That puts it squarely in a tourist hotspot and the development is predicted by the company to attract over 23 million visitors each year.
So what will they actually find there? Eight “neighbourhoods curated to provide unique experiences and something for everyone,” we’re told. There will be 142,000 sqm of retail space, 20+ leisure operators, 70+ restaurants, two hotels, a 5,000-person concert venue, and Spain’s largest urban farm.
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