160 million euros is going to be invested in the new complex and, according to Sebastian Palacios, the Director of Operations for Carrefour Property in Spain, once the S'Estada the business strategy behind it, its design and architecture will make it one of the most outstanding, commercial sites, in Majorca and overseas. Carrefour Property, will be responsible for investing 120 million of the total 160 million euros, the rest will come from the 120 retailers who are going to be opening stores on the cite.
Palacios said that project, which now has all the necessary planning permission and licenses, will totally revolutionise Majorca's commercial sector.
He also said that consumers will also benefit from new brands and products which until now, were not available in Spain.
The retail park will cover an area of 65'000 square metres and will offer an underground car park and a further 2'800 parking spaces above ground.
The new S'Estada complex will be built on the site where Carrefour already has a hyper market and once complete, the entire commercial complex will spread out over an area of 125'023 square metres.
Construction work is due to start at the end of this summer holiday season and Palacios said that they expect around 12 million people, to visit the complex, every year.
And, the site, which will have a very Mediterranean feel, will create 1'500 direct jobs and a further 2'000 auxiliary positions.