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Castellana will invest €30M in refurbishing its shopping centre
22 July 2019 | Observatorio Inmobiliario

REIT Castellana Properties, specialised in acquiring, managing and rehabilitating real estate assets in the retail segment, will invest at least 29.6 million euro in improving its shopping centres Bahía Sur (Cadiz), Los Arcos (Seville) and El Faro (Badajoz).

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With this investment, which will serve to improve the facilities of Los Arcos, Bahía Sur and El Faro with the arrival of more than 40 new brands, the REIT claims it will improve and increase its leisure, food and clothing offer. 

These investments are in line with Castellana Properties’ strategy, as was the case of the Granaita business park, where the company invested 5.5 million euro. The goal is to transform these facilities into spaces that prioritize the customers’ needs, who demand precisely this diversity in offer. This explains Castellana Properties’ bet on a comercial mix between shopping and experience.

Alfonso Brunet, Castellana Properties’ CEO, comments that «Andalusia and Extremadura are key locations for Castellana Properties and have a lot of potential. These are currently the regions where we have more assets with 6 and 4 respectively. With this investment of around 30 million euro on Bahía Sur, Los Arcos and El Faro we want to increase the offer in terms of clothing, leisure and food to our clients and generate more jobs in these regions. We are proud to announce that, with these refurbishments we will generate around 700 new direct jobs and 650 indirect jobs during the refurbishment period».