Spanish property company Neinver said it plans to invest up to EUR 500mln in the development of some 340,000 m[sup]2[/sup] of retail space in the next two years. This is expected to more than double the company's retail portfolio, which will reach 700,000 m[sup]2[/sup] by 2010 through both development investments and acquisitions. The Spanish real estate company currently manages about 225,000 m[sup]2[/sup] of retail space across Europe.
Spanish property company Neinver said it plans to invest up to EUR 500mln in the development of some 340,000 m2 of retail space in the next two years. This is expected to more than double the company's retail portfolio, which will reach 700,000 m2 by 2010 through both development investments and acquisitions. The Spanish real estate company currently manages about 225,000 m2 of retail space across Europe.
Neinver added that five projects are scheduled for opening this year in Spain, Italy and Poland. The company has recently completed the second phase of its Wroclaw Factory in Poland and its Vicolungo outlet centre in Italy representing an investment of EUR 40mln. In March, Neinver also completed the 20,500 m2 Wroclaw Futura Park in Poland, while in Spain, the second phase of the Alegra Shopping and Leisure Center will open its doors this week with an additional 50,000 m2 of space. In September the company also intends to expand the Poznan Factory outlet centre in Poland.
