Plans by a British investment group to build the largest shopping centre in southern Europe on the Costa del Sol are moving forward.
Expected to create approximately 3,000 jobs, the project will be undertaken by British company Intu Properties with an estimated investment of €400 million.
Approval at a Torremolinos Council plenary session to adapt the local Town Planning Scheme (PGOU) to meet the Andalucian Town Planning Law (LOUA) means the project, which has been stuck in a drawer since 2005, has the town’s approval and can now request permission to go ahead from the Junta de Andalucia regional government.
The commercial centre will cover an area of 175,000 square metres and house shops, bars, restaurants and cinemas, with a petrol station, luxury hotel and 5,000 parking spaces also included in the project expected to become a reality within the next three years.
Intu Properties has similar centres in Vigo, Valencia and Mallorca and recently opened Puerto Venecia centre in Zaragoza, which was awarded as the best of its type in the world.
This year alone, major and mid-sized retail companies have cut over 17,000 jobs.
Sephora is now trimming its staff by less than 3%, or under 120 jobs.
Sephora is now trimming its staff by less than 3%, or under 120 jobs.
900 malls remain in the United States. The top 100 account for half the sector's value.
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