2002 will be remembered as a record year for the Spanish shopping center market: 31 new centers opened and 7 expansions, for a total surface area of 928,322 m2. This is what emerges from a study conducted by Jones Lang LaSalle (Information on the retail market in Spain: situation as of 1 January 2003 and future prospects). Growth in 2003 will presumably align with that recorded in 2002; Taking advantage of the new commercial formulas, prepared over the last few years, 2002 was characterized by restructuring and expansion interventions of the existing centers, thus outlining a trend that will presumably continue in the coming years; The market for investments in shopping centers seems mature today, recording an annual growth of 5.5% in 2002. The intense activity of recent years has made the Spanish market one of the first in Europe, with a density index of shopping centers per inhabitants slightly lower than that of the United Kingdom and the Netherlands, which currently hold the record. Spain currently has a total of 387 shopping centers with a total GLA area of approximately 8 million m2. The analysis of the regional basic density places Andalusia, Madrid, the Valencian Community, Pais Vasco, Argon and Galicia at the top of the ranking.
source: Real Estate Observatory
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