Madrid Xanadú

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Madrid Xanadú
Madrid-xanadu -logo.jpg
Location Arroyomolinos, Madrid, Spain
Opening date May 16, 2003
Developer Mills Corporation
Owner Ivanhoe Cambridge
No. of stores and services 222
No. of anchor tenants 14
Total retail floor area 1,200,000 square feet (110,000 m2)
No. of floors 2
Parking Lighted Lot
Website madridxanadu.com

Madrid Xanadú is a large shopping mall and entertainment center in Arroyomolinos, Madrid, Spain at the Autovía de Extremadura section. The Mall is one of Europe's largest and most recognized, with over 222 shops, eateries, and a 15-screen Cinesa Movie Theater. The main attraction is Madrid SnowZone, a huge covered track, used for skiing and to go snowboarding. The track is from a Canadian company, Intrawest. The mall was named after the 1981 film Xanadu, starring Oliva Newton-John.

Major Anchors[edit]

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

Mall Ownership[edit]

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 Ivanhoe 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[edit]

In 2004, The Mills started to build its counterpart, Xanadu Meadowlands (formerly named Meadowlands Xanadu) in New Jersey, however, ownership changes and countless delays have plagued the complex and it has yet to open. The complex has been renamed as American Dream Meadowlands by its new owner Triple Five Group, who bought the complex in 2013.

References[edit]

Coordinates: 40°17′57″N 3°55′39″W / 40.29917°N 3.92750°W / 40.29917; -3.92750