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Intu looking for partners for new Torremolinos shopping complex

An artist’s impression of the new shopping and leisure area.
An artist’s impression of the new shopping and leisure area. / SUR
  • The developers are looking for investors for the upcoming phases of the construction

British company Intu, specialists in commerical and leisure centres, is looking for partners for its upcoming new complex, set to be the biggest in Europe, currently being built in Torremolinos.

The company is facing up to increasing debts, brought on in part by the uncertainty over Brexit, and has already put 50 per cent of its ongoing projects in Zaragoza (Puerto Venecia) and Asturias (Intu Asturias) up for sale.

In the case of Torremolinos, however, Intu has ruled out selling off this project as it is considered “of the highest strategic importance” for the company. Instead, Intu is looking for partners to help finance the upcoming phases of the construction.

The first phase is already under way and will not be affected. The contract, worth 160 million euros, was awarded to Sando y Dragos in March and they are carrying out ground preparation work and laying the foundations for what will become a ‘smart city’ with shops such as El Corte Inglés, Primark, Nike Store, Zara, Desigual, Conforama, Ikea, Fnac and Decathlon, as well as a leisure area containing a circus, aquarium, hotel, swimming pool and much more.