Frey Invest, the Spanish arm of Paris-listed Immobilière Frey, announced on Thursday that construction work has started on its Parla Natura retail park in the southern outskirts of Madrid. The project, which is 100%-financed and leased, is Frey´s second development in Spain, and will add to the El Golf retail park developed in Talavera de la Reina, which opened in mid-2007.
Frey Invest, the Spanish arm of Paris-listed Immobilière Frey, announced on Thursday that construction work has started on its Parla Natura retail park in the southern outskirts of Madrid. The project, which is 100%-financed and leased, is Frey´s second development in Spain, and will add to the El Golf retail park developed in Talavera de la Reina, which opened in mid-2007.
The park will feature photovoltaic panels and will provide 18,000 m2 of retail space and 1,200 parking spaces. Major retailers include Décathlon, Norauto, Gifi, Casa, Maxi-Zoo, Cóctel (La Halle aux Vêtements), Merkal (La Halle aux Chaussures), Kiabi. The project represents an investment of some EUR 25 mln. The park is scheduled to open in March 2010.
