H2O Centro Comercial is located in Rivas-Vaciamadrid, part of the greater Madrid metropolitan area. Opened in 2007, it is the dominant shopping mall in Rivas, a rapidly growing community with a population exceeding 100 000. The area benefits from ongoing urbanisation and its proximity to Madrid city centre, just 17km away, along with excellent connectivity through road networks and three metro stations.

The mall offers a comprehensive retail mix and is strategically positioned next to a large retail park. This combination of retail assets brings critical mass to the mall which enhances H2O’s ability to compete with the major shopping destinations in the wider Madrid metropolitan area. With 113 stores, the mall features a robust leisure, food, and beverage offering. Key tenants include major international and national brands such as Primark (which opened in August 2024), Nike, JD Sports, Mercadona and the Inditex brands (Zara, Bershka, Pull&Bear and Stradivarius).