Redevco finished the large-scale renovation of Parque Corredor near Madrid in December 2020. The construction works, which started a year before, have been completed ahead of schedule despite the extensive measures issued by the Spanish government in response to Covid-19. More than 300 workers continued building works in shifts during the so-called lockdown period, after assuring the implementation of a very strict Health & Safety protocol. Israel Casanova, Managing Director Redevco Spain & Portugal, commented: “During our large-scale, €45 million renovation we remodeled the shopping center, creating a modern and open look both inside as outside. With the completion of the transformation the important catchment area of this scheme truly gained an iconic shopping experience.”
Parque Corredor is one of the largest shopping centers in Spain, with 123,000 sq m of surface. The renovation affected the entire mall. The exterior and its façade underwent a major remodeling, creating the center’s current modern and iconic look. The three main entrances facilitate a more balanced circulation of the more than 11 million customers that visit the center each year. The 3,500 parking spaces have also been widened and re-surfaced, with better day and night signage. In the mall double height façades have been created to emphasize the width and height of the mall. Also, large skylights were installed to create a more pleasant and natural lighting which will also help to reduce energy consumption.
Reinforcing the tenant mix
The renovation also brought back Zara, which closed its shop in 2013, and once again has opened a shop of 3,800 sq m, making a strong commitment to the new project with one of the biggest retail units. Zara joined other brands from the Inditex group, Bershka, Stradivarius and Pull & Bear, bringing the group’s brands to a total of more than 6,100 sq m of space in Parque Corredor. The remodeling has been used to reorganize the distribution of the commercial units and to extend the shop windows and exhibition areas. Many of the brands that were already present have taken advantage of the constructions works to renovate and update their shops as well. In addition to existing tenants, the renovation of Parque Corredor also attracted the interest of new brands, such as JD Sports and Sprinter, which will open a unit in the center in the first quarter of 2021.
