In Madrid, construction has begun on the largest medium-sized shopping centre. It will be El Cañaveral – a project in the rapidly developing district of Vicálvaro, located in the southeast of the Spanish capital. Its opening is scheduled for the start of the 2027 Christmas season.
The El Cañaveral shopping centre is being created with the aim of becoming a convenient and accessible space designed to serve thousands of families who already live here, as well as those who will move here in the coming years. This project very clearly reflects the city model to which the city council aspires, combining residential construction with quality public services, economic activity and employment opportunities.
New shopping centre in a developing district of Madrid
At present, 210,000 people live here, and by the time construction is completed, the population is expected to reach 350,000 residents thanks to major urban development projects (a total of 53,000 new residential properties) being implemented in this area.
The total investment will exceed 100 million euros. The centre, with an area of 77,000 sq.m., will have more than 50 commercial premises and 2,200 parking spaces, including 196 for motorcycles. More than 1,500 direct and indirect jobs are also expected to be created, along with annual revenue of more than 11.5 million euros.
Tenants and infrastructure of El Cañaveral
At the moment, with more than 20 months still remaining before opening, 77% of the park’s total leasable area has already been reserved. Leading operators such as Mercadona, Lidl, Ahorramás, Urban Planet, Ilusiona, Planet Fitness, Kiabi and McDonald’s have already confirmed their participation.
The project is conceived as a space capable of bringing together different zones: food, home and renovation goods, fashion, sport, pets, restaurants (with an innovative two-storey format), leisure and padel tennis (13 courts). In addition, the shopping centre has a strategic location with direct access to the R-3 road, semi-direct access to the A-2 and A-3 motorways, and is just 20 minutes by car from the centre of Madrid and 15 minutes from Barajas Airport.
