SONAE SIERRA AND MCARTHURGLEN PLAN PROJECT IN ANDALUSIA

Sonae Sierra and McArthurGlen recently signed an agreement to develop a designer outlet in Málaga in southern Spain.

McArthurGlen Designer Outlet Málaga, a development project worth €115 million, will be the first designer outlet in southern Spain. After its complete opening, it will offer 30,000 sq m of GLA. The center will be developed in two phases: The first phase includes 17,000 sq m of GLA, the second includes an additional 13,000 sq m. The first section will open in 2017, with work expected to begin in the second half of 2015. This announcement marks the entry of the McArthurGlen Group into the Spanish market. The Group’s portfolio currently includes 20 Designer Outlets near major tourist destinations in eight European countries: Belgium, Germany, France, Greece, the United Kingdom, Italy, the Netherlands, and Austria.

In the spring of 2015, McArthurGlen is to open its first Designer Outlet outside Europe in Canada: McArthurGlen Vancouver Airport. In the first phase, the Málaga Designer Outlet, built in village style, will have around 90 shops from the hottest international and local luxury and premium brands. The center will reflect McArthurGlen’s characteristic attention to detail, with luxuriously decorated squares, tree-lined streets and footpaths, and fountains and works of art in the style of the Andalusian surroundings. The Designer Outlet will be built next to the Plaza Mayor Leisure Park & Shopping Center (photo), which is part of the Sierra Fund and managed by Sonae Sierra.

Plaza Mayor is Malaga’s most-visited shopping center. It features 143 shops and restaurants and 3,200 parking spaces. The center welcomed almost 9 million visitors in 2013 and generated sales of over €95 million. The new Málaga Designer Outlet, located right off highway A7 connecting Málaga and Marbella, is just a 90-minute drive or less for nearly 3 million people. It is also located just three minutes by train from Málaga International Airport, Spain’s fourth-largest airport, with passenger traffic of 13 million per year.

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