• Following the acquisition of the El Corte Inglés assets, and in line with its strategy, the company will reform these spaces to improve the tenant mix and the commercial and leisure offer

• The project will generate approximately 700 new direct jobs through the opening of new brands and 650 indirect jobs during the works

• The investment in Bahía Sur, Los Arcos and El Faro reinforces Castellana Properties' strategic objective of improving its assets by adding value through active asset management

Castellana Properties, specialist in the acquisition, management and rehabilitation of real estate assets in the retail sector listed on the Alternative Stock Market (MAB), will invest at least €29.6 million in improving its shopping centres located in Bahía Sur (Cádiz), Los Arcos (Sevilla) and El Faro (Badajoz). This project meets the strategic objectives of Castellana Properties, of improving its assets by adding value through active asset management.

After these investments, which entails improving the tenant mix of Los Arcos, Bahía Sur and El Faro with the arrival of more than 40 new brands, the company will improve and increase its leisure, restaurant and fashion offer in order to offer the best service to its clients. In addition, the renovation of these centres will generate approximately 700 new direct jobs due to the new stores opening in Bahía Sur, Los Arcos and El Faro and 650 indirect jobs during the period of refurbishment and reconfiguration of these spaces.

These investments are in line with the company's strategy, as evident in the transformation of Granaita Retail Park, where the company invested €5.5 million. These areas have ceased to be mere shopping spaces and have become spaces that give priority to the needs of customers, who demand precisely that variety in the mall offering. This explains Castellana Properties' commitment to a commercial mix that offers the perfect combination of commercial premises and experience areas.

Alfonso Brunet, CEO of Castellana Properties, comments that "Andalusia and Extremadura are key strategic regions for Castellana Properties that have a lot of potential. They are currently the regions in which we have the largest number of assets with 6 in Andalusia and 4 in Extremadura. With this investment of around €30 million in Bahía Sur, Los Arcos and El Faro, we want to offer our clients a wider range of fashion, leisure and dining and encourage employment in the area. We are proud to announce that, with the opening of new brands, we will generate around 700 new direct jobs and 650 indirect jobs during the refurbishment period”.