Local estate agent, Mislocales, stated that Spain is preparing for the opening of 16 new shopping centers over the next 24 months, which will result in more than 500000m² of retail space.
Thus far this year has witnessed the opening of new malls at Ciudad de la Imagen in Seville, Ikea Parc de Alfafar in Valencia and El Nevero in Badajoz. These openings created new gross space for letting of 59000m². There are also several other malls which are undergoing additions.
Spanish retail has experienced major investments during the past 12 months from Oaktree, Blackstone, Patron Capital and Intu Properties. According to the Spanish Association of Shopping Centers (AECC), the total available amount of mall space across the country at the close of 2013 was 15.3 million square meters.