Construction has officially started on El Cañaveral, poised to become the largest medium-sized shopping center in Madrid. Located in the rapidly expanding district of Vicálvaro in the southeast of the Spanish capital, this ambitious project is scheduled to open its doors during the 2027 Christmas season.
El Cañaveral is designed to be a convenient and accessible retail hub, serving thousands of families currently residing in the area as well as the many more expected to move here in the coming years. This development aligns closely with Madrid’s urban vision, which integrates residential growth with quality public services, economic vitality, and employment opportunities.
New Shopping Center in a Growing Madrid District
Currently home to approximately 210,000 residents, Vicálvaro’s population is projected to grow to 350,000 by the time El Cañaveral is completed, driven by extensive urban development projects that will add around 53,000 new residential units.
The total investment in the shopping center exceeds 100 million euros. Spanning 77,000 square meters, the center will feature over 50 commercial outlets and 2,200 parking spaces, including 196 designated for motorcycles. The project is expected to generate more than 1,500 direct and indirect jobs and produce annual revenues exceeding 11.5 million euros.
Tenants and Facilities at El Cañaveral
With over 20 months remaining before the grand opening, 77% of the leasable area has already been secured by tenants. Prominent retailers and service providers such as Mercadona, Lidl, Ahorramás, Urban Planet, Ilusiona, Planet Fitness, Kiabi, and McDonald’s have confirmed their participation.
The center is thoughtfully designed to accommodate diverse zones including food, home improvement, fashion, sports, pet supplies, dining (featuring an innovative two-story restaurant layout), leisure, and padel tennis with 13 courts. Strategically located, El Cañaveral offers direct access to the R-3 road, semi-direct access to the A-2 and A-3 motorways, and is just a 20-minute drive from central Madrid and 15 minutes from Barajas Airport.