Redevco expects to enhance the market’s operational performance through active asset management and customer experience improvements. Image: Redevco
Development

ENHANCING A TOURIST ATTRACTION

Redevco is upgrading the designated heritage-protected Mercado San Miguel in Madrid.

In July of last year Redevco Iberian Ventures, the joint venture between Redevco and Ares Management, acquired Mercado San Miguel for €70 million. The renowned, covered gastronomic market is a tourist attraction in the heart of the historic center of Madrid. Most notably, it is a designated heritage-protected building.

What are Redevco’s plans for the Mercado San Miguel? The company is focusing its asset management efforts on re-tenanting, re-marketing and refurbishment. Creating the right tenant mix includes signing Michelin Star chefs and well-recognized Spanish gastronomic brands, such as Arzabal, Rocambolesc, Kabuki, Ahumados Dominguez and Rodrigo de la Calle. As part of the long-term marketing strategy, the food court and kiosks have been redesigned, and technical installations are being improved.

The re-launch is scheduled for October 2018. Jordi Soriano Raga, Portfolio Director Redevco Spain & Portugal, who is looking forward to this event, explains: “We are enhancing this listed architectural gem to continue being one of Madrid’s top tourist attractions.”

 

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Development MORE

“Developers look for Game Changers”

Reify. is Sonae Sierra´s rebranding of its real estate expertise activity which reinforces its commitment to offering multidisciplinary services to investors and developers. ACROSS spoke with Jorge Morgadinho, Reify.’s Executive Director, about the first business year after the rebranding.

55,000 sq m mixed-use project Waterfront Genoa (IT) serviced by Nhood

Nhood Services Italy became a service provider for the urban transformation project of Waterfront di Levante, located in Genoa. Due to the special architectural solutions made by Renzo Piano, Waterfront can be described as a low environmental impact project for the city.

Masterplan for Mixed-Use Development of St. Enoch Center in Glasgow

Property developer and asset manager, Sovereign Centros, has submitted a planning application outlining its masterplan proposals for the reimagination of St. Enoch Center in Glasgow. The mixed-use development puts focus on retail, leisure, entertainment, hotel, offices, and city center living.

Iulius launches €500 Million Urban Regeneration Project in Romania

Iulius Group is launching a new investment in Cluj-Napoca: more than half a billion Euros for their urban regeneration project in Romania.

DI Group expands “Rathaus Center Pankow” for more than €12 million

Deutsche Immobilien-Gruppe (DI Group) is now investing more than €12 million in the expansion and renewal of its shopping center "Rathaus Center Pankow". The extension will create about 2,100 sq m, 7% more space.

Redevelopment of Westland Shopping Center at the Finish Line

AG Real Estate is on the verge of completing the extensive renovation and extension works it started in 2019 in Westland Shopping Center in Anderlecht (Belgium). The program includes the arrival of a large department store and a number of new retailers, the expansion of the Food & Beverage offer, and the creation of a leisure center of over 4,000 sq m.