El Ingenio shopping centre in Velez-Malaga announces major expansion with €14 Million project

El Ingenio shopping centre in Velez-Malaga has obtained approval for expansion works through a recently granted licence. Investment of €14 million will deliver more than 4,500 square metres of shop units to the site. Total stores will rise above 100 while annual visitors should exceed 10 million once complete. Current figures show the centre is packed across all units with 9.2 million visits per year already. High visitor numbers reflect strong demand for the retail options currently available at this key location on the eastern Costa del Sol.

Expansion project specifics

New shopping space will support the addition of further operators at the centre managed by MVGM. Approximately 155 new jobs will come from the openings and ongoing operations of these additional establishments.

Even more growth in store count will improve the variety of shopping choices for local residents and tourists visiting the area. Peak capacity characterises current operations at the complex where every retail unit remains let out.

Owner led development approach

Grupo Sociedad Azucarera Larios as owner is looking for a broader plan to establish a substantial commercial business and services zone centred on El Ingenio. This approach hopes to drive economic progress for Velez-Malaga town and the wider Axarquia area.

A new retail park with medium surface units represents the following stage of works. Such a park will introduce new specialist operators to complement existing retail provision at the location. In is hoped that investment of this type will help sustained economic growth in the Axarquia area.

Overall project scale and benefits

Completion of the project will see the combined El Ingenio facility and new retail park deliver roughly 100000 square metres of integrated shopping space. This scale makes the development among the biggest retail complexes across southern Spain.

Investment for the complete scheme stands close to €100 million. Other elements include office space a hotel and upgraded road access points. Employment opportunities from the full development will surpass 3000 positions both direct and indirect in nature.