UK shopping centre operator Intu Properties has launched a Spanish joint venture with Eurofund Investments worth up to €5m.
The jv is to implement the pre-development of two malls in the cities of Valencia and Vigo.
Eurofund, a joint venture between British Land and Orion Capital Partners, is also working with Intu for the creation of a masterplan for a regional scheme near Malaga, over which the UK shopping centre operator holds a purchase option until 2015.
