Madrid Xanadú

Shopping mall in Madrid, Spain

40°17′57″N 3°55′39″W / 40.29917°N 3.92750°W / 40.29917; -3.92750Opening dateMay 16, 2003DeveloperMills CorporationOwnerNorthwoodNo. of stores and services222No. of anchor tenants14Total retail floor area1,200,000 square feet (110,000 m²)No. of floors2ParkingLighted LotWebsitewww.intuxanadu.com

Madrid Xanadú is a large shopping mall and entertainment center in Arroyomolinos, Madrid, Spain. Constructed next to the Autovía de Extremadura highway, the mall is one of Europe's largest, with over 222 shops, eateries, and a 15-screen Cinesa Movie Theater. The most distinctive attraction is Madrid SnowZone, an indoor ski slope. The slope is from a Canadian company, Intrawest. The mall was named after the 1981 film Xanadu, starring Oliva Newton-John.

Major Anchors

Cinesa 15 Theaters
El Corte Inglés
Hipercor at El Corte Inglés
Madrid SnowZone

Mall Ownership

The American-based Mills Corporation developed the mall in 2002. It opened the next year with great fanfare. Madrid Xanadú was the company's first mall outside the United States and was planning to build more malls in Europe. In 2006, the Canadian real estate company Ivanhoé Cambridge bought Madrid Xanadú from Mills to alleviate the latter company's financial problems.

On 31 January 2017 Intu Properties announced to the London Stock Exchange: “intu confirms it has entered into an exclusivity agreement with entities of the Ivanhoé Cambridge Group to acquire the centre. The transaction would be funded from a combination of bank financing and existing facilities. At this time there is no certainty that this transaction will complete and a further announcement will be made as and when appropriate.”^[1]

Xanadu's Counterpart

In 2004, The Mills started to build its counterpart, American Dream (formerly named Meadowlands Xanadu) in New Jersey. However, ownership changes and countless delays plagued the schedule for the opening. The first phase of the project opened on October 25, 2019. The rest of project opened on December 5, 2019, and October 1, 2020.

References

^ "FE Investegate – Intu Properties Plc Announcements – Intu Properties Plc: Statement regarding Press Comment". www.investegate.co.uk. Retrieved 2017-02-01.