Administrador de Infraestructuras Ferroviarias (Adif), the Spanish state-owned railway and infrastructure management company, is reportedly in negotiations with a number of local and international property developers for the creation of a new 50/50 joint venture company which will construct shopping centres adjacent to some of Spain's largest railway stations.
Administrador de Infraestructuras Ferroviarias (Adif), the Spanish state-owned railway and infrastructure management company, is reportedly in negotiations with a number of local and international property developers for the creation of a new 50/50 joint venture company which will construct shopping centres adjacent to some of Spain's largest railway stations.
According to Spanish newspaper Cinco Dias, Adif plans to develop around 10 schemes located in several cities including Vigo, Albacete, Alicante, Valladolid, Cádiz, León,Huelva, La Coruña and Barcelona (Sants). The centres, which will be operated under the Vialia brand, will be managed by Adif's joint venture partner with a 50-year management agreement.
Adif manages a total of 95 railways stations in Spain. The company is seeking a partner to share the construction costs of the operation, which is expected to amount to between EUR 40 mln and EUR 100 mln per centre. The company is also looking for banks which could finance the projects.
Similar shopping malls are already operational next to the stations of Málaga, Salamanca, Bilbao and Pontevedra.
