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Retail Parks Increase Investment 4-Fold in 2020 as Safe Haven

There are existing plans for developing seven projects totalling 116,393 m2; 63% of the total surface area opened in 2020 corresponded to this format.

Proyeccion del centro Los Patios de Azahara
The Los Patios de Azahara Centre in Córdoba, under development by Mitiska.

According to data from the Medium-Scale Retail in Spain report by Savills Aguirre Newman, the medium-sized retail market received 179 million euros in investments in 2020 compared to €43 million in 2019. The figure is almost five times the volume seen in 2019 and reflects the search by investors for assets that they believe to be safer, or less exposed, in the face of the uncertainty generated by the pandemic.

Savills Aguirre Newman is forecasting that 2021 will be a year of ‘evolution’, in which the development of seven retail parks totalling 116,393 sq m is planned. The report indicates that this sector already accounts for a large proportion of retail projects in Spain.

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