CaixaBank has provided a €64.42 million loan to El Cañaveral Desarrollos Terciarios for the construction of a retail park in Madrid. The facility, known as the El Cañaveral Retail Park, is being developed on a plot spanning approximately 214,886 square meters in the Vicálvaro district. The project is a joint venture involving OMO Retail and Rodríguez Normand.
A major retail hub for the capital
The development will include 54 retail units, 2,573 car parking spaces, and 196 spaces for motorbikes. It aims to become the largest retail park for medium-sized retailers in Madrid. The total investment exceeds €100 million, with estimated annual revenue of €11.5 million. The complex is scheduled to open in time for the 2027 Christmas shopping season.
Spanning five distinct zones, the park will feature food, DIY and workshops, fashion, sports, and pets, home and dining with a double-height layout, and leisure and padel with 13 courts. Confirmed tenants include Mercadona, Lidl, Ahorramás, Urban Planet, Ilusiona, Planet Fitness, Kiabi, and McDonald’s. At the start of construction, 77% of the retail park’s gross lettable area was already let.
The complex is located in south-east Madrid, an area currently home to 210,000 residents. More than 53,000 new homes are set to be built in the surrounding developments of Los Berrocales, Los Ahijones, Valdecarros, and Los Cerros. This growth will increase the population of the catchment area to 350,000 inhabitants by the project’s completion.
Growth and employment
The official laying of the foundation stone for the complex took place on 27 April. CaixaBank Corporate & Investment Banking (CIB) stated that they are “very proud to be part of a project of this magnitude, which is expected to create more than 1,500 direct jobs and will contribute to the economic and social development of one of the capital’s fastest-growing areas.”
The development, led by OMO Retail, will be built on a plot of approximately 214,886 sqm, with a usable floor area of 73,974 sqm comprising 54 retail units, 2,573 car parking spaces and 196 spaces for motorbikes. With this project, the development aims to become the largest retail park for medium-sized retailers in the city of Madrid and one of the most significant retail developments currently under construction in Spain.
The future park, marketed by Savills, will be situated in south-east Madrid, an area which is currently home to 210,000 residents and where more than 53,000 new homes are set to be built as part of the developments at Los Berrocales, Los Ahijones, Valdecarros and Los Cerros. According to information provided by the company, this growth will increase the population of the catchment area to 350,000 inhabitants by the project’s completion.
