WalMart has agreed to build a luxury villa and apartments in Spain for a price of $20 million.
The project will also include an outdoor spa and outdoor dining area, the company said.
“This is the first of a number of projects we will undertake to expand our existing portfolio of Villas, villas and apartments, both in Australia and internationally,” WalMart chief executive Peter Gartside said in a statement.
“We are very excited about the opportunity to expand these two villas into the heart of Spain and beyond.”
The villas will be built in the former villa Parke, located in the northern region of Valencia, the city with the second-highest rate of home ownership in the world.
The new villas, located on a 10-acre parcel at Villa del Arco, are part of a wider expansion project to bring the total number of properties at WalMart in Spain to 17.
WalMart already has several villas built in Spain.
The largest is the former Parke villa in the city of Córdoba, where it has more than 2,000 apartments, according to a statement from the company.
The company also has two Villas de la Serenada, located about an hour’s drive from Villas del Arcos, which it is building.
In Australia, WalMart also has a villa called Villas Pilar, which has 456 apartments and a spa.
The company did not say when the villas would be built.
Walmart is currently selling a wide range of home goods in Australia, including furniture, clothing, home furnishings and appliances.
For the past year, the firm has been buying up land in Australia in an effort to create more land to build its headquarters and other infrastructure.