Work on the new Intu shopping and entertainment complex in Torremolinos is due to start at the end of this year. Although final approval for the resort’s strategic town plan (PGOU) is still waiting for the green light from the Junta, Intu unveiled its full project model at a presentation held in the Hotel Melia Costa del Sol earlier this week. The PGOUneeds to be approved for the scheme to go ahead.
Set to become the biggest shopping and leisure centre on the Mediterranean coast, the 500-million-euro project will include a resident circus, a Ferris wheel, wave pool, ski slope and aquarium. In addition, it will have landscaped botanical gardens and will incorporate architectural elements linked to the history of the town, including several mills.
According to data provided by British-based Intu, the park will have: more than 8,000 square metres of multipurpose areas; 23,000 square metres for sports and culture; and more than 65,000 square metres of green areas planted with 3,000 trees.
The company has also presented several proposals to modify the access roads into Torremolinos.
Salvador Arenere, Intu representative, confirmed that the project is expected to create more than 4,000 direct jobs and another 3,000 indirect positions. Seventy-five per cent of direct contracts will be reserved for women and groups at risk of social exclusion.
The company has already signed agreements with the Spanish cancer association (AECC), the University of Malaga, the San Telmo academy of Fine Arts and ACET- the Torremolinos business traders’ association.
Intu have not revealed which companies are set to operate out of the new shopping centre, although its complex in Zaragoza might give some clues about the company’s strategy.
El Corte Inglés, Primark, Zara, Ikea and Decathlon are just a few of the shops operating from the Zaragoza complex.
Building work will begin after the approval of the town’s PGOU, which should come before the end of the year. José Ortiz, mayor of Torremolinos, said that the Intu project “is magical” and that he is “confident in the project’s ability to regenerate the north side of the town”.
Direct investment by Intu will exceed 500 million euros and, in addition, the British firm will pay three million euros a year in local tax (IBI), a lifeline for the town hall, which is hoping to reduce its bulging debt.