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Engel & Völkers to Invest €150 Million in Shopping Centres

In this vein, the company has purchased two plots of land from El Corte Inglés spanning a total surface area of 20,000 m2 in the Madrilenian municipalities of Fuenlabrada and Valdemoro.

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Engel & Völkers is backing the shopping centre segment. The German real estate company is going to invest 150 million euros over the next two years in the purchase and development of these assets, which have food courts as a key feature for attracting visitors. This figure will be invested alongside the debt associated with each project, which will vary depending on the development, according to Expansión.

In this vein, the company has purchased two plots of land from El Corte Inglés spanning a total surface area of 20,000 m2 in the Madrilenian municipalities of Fuenlabrada and Valdemoro. There it is going to develop two retail parks with a gross leasable area of 10,000 m2 and a gross value of around 25 million euros in total.

Read the full article in Spanish.

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