Intu, owner of several of the largest and most popular retail sites in Spain and the UK, has been given the green light to build an ambitious new retail and entertainment venue on the Costa del Sol in southern Spain.
The company has announced it has been awarded a General ‘PGOU’ License (Plan General de Ordenación Urbana), paving the way to take the project to the next level.
The €800m retail and leisure resort will stretch for 2.5 million sq.ft, offering visitors “world-class experiences in hospitality, leisure and retail.
Intu Costa del Sol will feature eight distinct neighbourhoods, including 142,000 sq.m of retail space, more than 70 restaurants, 20-plus leisure operators, two hotels and a concert venue with a 5,000-seat capacity. It will also be home to the largest farm in Spain.
Intu’s chief executive, Matthew Roberts, commented: “This significant milestone opens the door to the next stage of the project. Intu Costa del Sol will be a resort like no other, bringing together international brands and global visitors in an unforgettable location surrounded by the very best in entertainment and leisure.
“We are having positive discussions with brands eager to join the scheme, as well as potential partners to help bring the project to fruition,” Roberts continued.
Talking about the licence milestone for the development, Ian Sandford, chief executive of Intu’s JV partner Eurofund and project director, commented: “The General License is an incredibly important milestone for the Intu Costa del Sol project, and we are delighted to have received this backing and endorsement from the Junta de Andalucía, validated by the City of Torremolinos. We now advance our plan and vision with renewed energy.”
The site will be located to the north of the popular tourist destination, Torremolinos, 3km from Malaga Airport.
Intu Costa del Sol is expected to attract more than 23 million guests annually. The site is due to open in 2023.