Cabildo purchase El Mercadillo shopping centre for 2.54 million euros

The Cabildo has purchased El Mercadillo, an enclosed two-floor shopping centre on Arrecife’s main shopping street, from local businessman Juan Francisco Rosa for €2.54 million.

The sale took place in November but has not been publicised until now as it occurred under a procedure known as “negotiation without publicity.”

The Cabildo says that the shopping centre will be used for “wine and food tourism, and to promote the island’s primary sector and agro-industry.” It claims the location of El Mercadillo is good for attracting cruise passengers.