Intu, the owner of some of the largest shopping centres in the UK, entered administration earlier this week putting in question the future of the massive shopping centre project in Torremolinos in Spain.
The news of the collapse of Intu leaves doubts about the completion of the large shopping center project on the Costa del Sol in the city of Torremolinos, the future of which will be revealed in the next few weeks after the “negotiations” that the company is holding with its partner, Eurofund Group, has revealed plans to buy its shares and continue the project.
As was announced this Tuesday from the company, it was “the British parent” that last week entered into bankruptcy, so that at the moment they do not know what will happen to the Costa Rican center.
“We do not know, what we do know is that the other Intu partner, Eurofund, a few weeks ago presented them with an offer to buy the project”.
In this sense, they have clarified that the offer pivots around “continuing the project on the Costa del Sol and this will be decided in the coming weeks in the negotiations that take place,” stressed the developer.
Local residents and politicians are pinning their hopes on a rescue deal as the new shopping centre has the potential to create and support thousands of new jobs for the area.