Franco-Dutch listed property giant Unibail-Rodamco has received planning permission from the local authorities for its Oceanic shopping centre development in Valencia, Spain.
Franco-Dutch listed property giant Unibail-Rodamco has received planning permission from the local authorities for its Oceanic shopping centre development in Valencia, Spain.
The permit will enable the retail specialist to start the development of the Ricardo Bofill-designed scheme, which is expected to involve an investment of some €250 mln.
With a gross lettable area of 100,000 m2 on three levels, Oceanic will be one of the largest retail schemes in the area, offering a multiplex cinema, hypermarket as well as 4,500 parking spaces.
The complex will target an Excellent rating under 'BREEAM' environmental standards.
Completion is scheduled for the second half of 2015.
Unibail-Rodamco owns a portfolio of 16 large shopping centres in Spain mainly located in the biggest cities. In Valencia, the group owns and operates Bonaire, a 135,000 m2 scheme.
