Klépierre has begun refurbishing the communal areas of La Gavia, the shopping centre it owns in Madrid, with an investment of €14 million. The project, designed by Chapman Taylor, is expected to be virtually complete before the upcoming Christmas season.
The works include new green relaxation areas, a children’s play area, changes to the interior design of the property, the refurbishment of the side plazas and the events plaza, as well as the addition of a new food market. The project also incorporates the use of certified materials, low-water-consumption vegetation and measures aimed at improving energy efficiency.
The refurbishment is taking place in an area of south-east Madrid characterised by the expansion of new residential developments such as Los Berrocales, Los Ahijones, Valdecarros and Los Cerros, which are expected to accommodate around 300,000 residents. According to the company, the centre’s refurbishment responds to the anticipated growth in demand for retail, leisure and services in this part of the capital.
With this investment, Klépierre is adapting one of its retail assets in Madrid to an expanding urban environment, where residential growth may alter the centre’s catchment area and increase pressure on the supply of services related to retail, catering and leisure.
