PROJECTS
Interior view of Habaneras Shopping Centre, Torrevieja, Spain.
The perfect spot
Local property investment firm, Vukile Property Fund, stamps its
arrival in Spain with a timber inspired shopping centre.
By Ntsako Khosa | Photos by Vukile Property Fund
L
ocated in the coastal city of Torrevieja, Spain,
Habaneras Shopping Centre is the only convenience
retail offering in the area with the added enjoyment of
great entertainment and socialising opportunities.
Developed in 2005 and refurbished in 2014, the centre is
almost fully occupied, with nearly half of its space dedicated
to fashion, including a significant collection of Inditex
brands, which include Zara and Pull&Bear. Some 92% of the
centre’s tenants are national brands.
Architect, Federico Carvajal from Spanish construction
company, Cabeza Sastre, shares how he was given the
freedom to design the project as he saw fit.
“It’s placement responded to a decision or bet of the
designers for this solution. Once the decision was taken and
accepted by the Developer [Metrovacesa], implementation
followed the technical specifications of the regulations and
the manufacturer's recommendations.”
Timber was selected for the project to give the complex
quality, status, warmth and proximity. Laminated wood was
30 APRIL / MAY 2019 //
used for the load-bearing structure as it was more affordable
when compared with other structural solutions.
Sourced from a local manufacturer, laminated wood was
used throughout the building. Carvajal adds that Spanish
regulations on wood treatment and maintenance were
followed. He adds that the location is complimentary as it is
a diverse commercial environment.
VUKILE IN SPAIN
Vukile entered the Spanish retail property market in July
2017, announcing it had acquired 11 Spanish retail parks for
EUR193-million (R3-billion) through Spanish real estate
investment trust (REIT) Castellana Properties.
It has grown its portfolio to almost EUR400-million
(R14-billion) and has also set up a strong in-country
management team and operational platform.
Laurence Rapp, CEO of Vukile Property Fund, says that
Spain was chosen for its strong macro-economic recovery.
“We entered the Spanish market less than a year ago and
www.timberiq.co.za