Bigger commercial surface in Palma

PALMA will double its commercial surface in two years with the construction of two new shopping centres.

The extended commercial activity is expected to spark the interest of new investors, as was explained by Rafael Arcas, head of Financial Advisory – Real Estate, who unveiled the data displayed in a report titled ‘The Investment Market for Spanish Shopping Centres’ created by said institution.

He also explained that, in the past few years there has been no relevant purchases in the Islands but that this is set to change with the inauguration of shopping centres Palma Springs and S’Estada, both expected for April of 2016.

The Balearic Islands have a current commercial surface of 190,000 square metres, and will gain around 140,000 square metres in the next year.