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Málaga's €150 million mega-mall plans unveiled at former sugar factory site
Tomás Olivo's 115,000 sqm project near Martín Carpena promises shops, dining and 3,000 parking spaces
Málaga could soon be welcoming a major new shopping destination. Businessman Tomás Olivo has submitted plans to the Ayuntamiento's Urban Planning Department for a huge commercial centre on the former Azucarera industrial park, right by Carretera de Cádiz. The site lies between Avenida de Velázquez and the MA-22, opposite Málaga Nostrum Retail Park and near the José María Martín Carpena Sports Palace and Poniente seafront.Olivo's company, General de Galerías Comerciales, wants to rezone over 65,000 sqm of industrial land for retail use. The development would cover 115,000 sqm of built space on a 45,000 sqm footprint, with 20,000 sqm of green areas. It would feature a ground floor plus two upper levels (the top slightly smaller), two basement parking levels and space for around 3,000 cars. The architectural design is by Málaga's Ángel Asenjo studio and British firm Chapman Taylor, experienced in large-scale projects.
The investment is set at mammoth €150 million. The project follows 1997 zoning rules under the 2011 PGOU, and will need traffic studies from the Ayuntamiento or Transport Ministry, plus an environmental review from Andalucía's Sustainability Department. Olivo hopes to open within three to four years, depending on approvals.
He is no stranger to this world. Forbes named him Spain's sixth richest person in 2025, with a €4.6 billion fortune. His portfolio includes La Cañada in Marbella, Gran Plaza and Mediterráneo in Almería province, Las Dunas in Sanlúcar de Barrameda and Nevada in Granada. It extends to the Canary Islands and Valencian Community, where Infinity launches this year. Olivo also holds 9.39% of Unicaja shares.
This could bring more shops, restaurants, leisure options and jobs to the area. Located so close to the coast and key landmarks, it has real potential to draw visitors. Málaga's retail scene looks set to grow stronger.
Image: Digital representation
