- The number of businesses established in the technopoly grows by 4%, reaching the figure of 715
Málaga TechPark closed 2024 with revenue exceeding 4.1 billion euros. Specifically, the figure reached 4.181 billion euros, a 21% increase from the previous year. Since its start of operations, the park’s total revenue has reached 42.656 billion euros.
The strong economic results are accompanied by an 11.3% increase in employment at the Málaga technopoly. Málaga TechPark businesses have hired nearly 3,000 more people in just a year, bringing the total number of employees at the Andalusian Technology Park (PTA) to 27,940.
The Minister of Economy, Finance, and Public Funds of the Andalusian Government and the President of Málaga TechPark, Carolina España, positively assessed last year’s results. “2024 was an extraordinary year for Málaga TechPark. We broke records in employment and revenue, consolidating the Málaga technopoly as a benchmark in innovation and technological development.
“This growth results from talent, investment, and cooperation between businesses and institutions. We will continue to promote the attraction of new companies and promote excellence to ensure that Málaga remains a leading technological hub at the national and international levels.”
Regarding R+D investment by businesses and institutions within the park, this increased by 12% compared to the previous year, reaching 173 million euros. Furthermore, the number of employees working in this field grew by 2.5%, totaling 2,860 workers.
The Information Technology sector (Electronics, Information, Computing, and Telecommunications) continues to be the most prominent. More than one-third of the park businesses are engaged in activities related to this sector, employing 55% of the total workforce.
Investments have reached 991 million euros since the inception of Málaga TechPark
Since its inception, the park has invested 991 million euros, with 80.3% of this coming from private sources. In 2024, this figure amounted to 37 million euros, a 14% increase over the previous year, and private investments represented 88% of the total.
Regarding R+D investment by businesses and institutions within the park, this increased by 8% compared to the previous year, reaching 187 million euros. The number of employees working in this field also grew by 7.5%, totaling 3,076 people.
Establishment of IMEC in Málaga TechPark
Among the new projects established during the year, the standout is the center of semiconductor manufacturing and design of IMEC, based in Leuven (Belgium). It is a global leader in cutting-edge nanotechnology and semiconductor research. In this regard, Málaga TechPark applied in February for an amendment to the Ordinances of the Partial Plan SUS-CA 10 – 1st Expansion Phase of PTA to introduce the IMEC Project. This amendment was approved by the Málaga City Council in September 2024.
“The arrival of IMEC in Málaga marks a milestone in consolidating Málaga and Andalusia as a strategic center for innovation and high technology in Europe. Their commitment to our ecosystem strengthens the positioning of Málaga TechPark in key sectors like microelectronics and semiconductors, generating new opportunities for cooperation, employment, and regional development,” said Carolina España.
Regarding real state investment carried out by PTA SA, we must stand out the completion of a new building on Plots R+D15-R+D16. This building has been named “Maria Merced Building” in honor of the former president of TSMC Europe and has a constructed area of 3,800 m2. It is also designed to attract innovative businesses, particularly those in microelectronics and semiconductor-related industries due to its proximity to the future IMEC center at Málaga TechPark.
Private real state investment
Concerning private real estate investment, the Kodans Science Partner (AXA Group) project on Plot R+D3 must be highlighted. It has an area of 18,630 m2 and KADANS acquired the surface rights in 2022 from the bankruptcy administration of the “FIBIC” Project (Foundation for Citizen Welfare).
In September 2024, KADANS started the construction of the “NODE 1” building, covering 11,178 m2 and with a total estimated investment of 30 million euros, intended for office and laboratory spaces. Additionally, Kadans completed the renovation of a previous Babel building of 3,800 m2. This building, acquired by Kadans in 2023 and renamed “Node 2”, reached 75% occupancy by the end of the year.
It is also worth mentioning the progress in the project Flex-Living promoted by Grupo LAR, covering 7,500 m2 to provide housing solutions for Málaga TechPark workers. The completion is scheduled for July 2025.
The property will offer 105 accommodations and 186 beds initially, expanding it to around 400 in the second phase. The estimated construction investment is 18 million euros, with 75% of the work completed by December 2024.
Overall, the total buildable area of the technopoly is 629,632 m2. The occupancy rate reaches 97% of the building surface. By the end of the year, the constructed space represents 81% of the buildable area (494,496 m2), showing a 2% growth compared to the previous year.
Hubs and international promotion
Throughout 2024, the participation of Málaga TechPark businesses in international events has been promoted, seeking the internationalization of those businesses and startups and enhancing their access to European markets. Key activities included European investor rounds, training courses, and participation in events such as the SBA International Venture Academy in France, the Cybersecurity Tech Meeting in Paris, the International Biotechnology Forum in Italy, and the First Customer and Bootcamp in Poznan, Poland.
Additionally, Málaga TechPark continues to develop new enclaves. Along with the one managed also by the University of Málaga for the development of the University Business Science Park, where The Green Ray by PTA-UMA is located, we have to add the enclave signed with the Port of Málaga and the Unicaja Foundation, which will be focused on the establishment of startups that will address business challenges proposed by the ecosystem businesses. There is also a cultural enclave in collaboration with the Soho Caixabank Theater.
Lastly, the Innovation and Technological Cooperation Office of UMA (Inntech) has been installed at the social headquarters of Málaga TechPark. This initiative aims to explore and analyze innovation opportunities within the park, create cross-sector cooperation mechanisms with UMA services, and promote a culture of innovation and technological collaboration of the university through the quadruple helix model.