The 144 million euro investment in building four new hotels in Magalluf has been given the go ahead by the Balearic government.
The Marina de Magaluf scheme, which has been on the table for the best part of a decade, is finally going to become a reality and at yesterday’s weekly cabinet meeting, the project was declared of maximum public interest.
Government spokesperson Rafael Bosch, explained that the government has taken such an approach in order to fast track the developer’s applications for permission etc. so that phase one of the massive project can get under way as quickly as possible.
The site of the development, which will be built in two phases, is the waste land in front of what was Agualand and where the flea markets used to be held.
Once completed, the four hotel complex will have 2'000 bedrooms, be accompanied by a 15'000 square metre commercial centre and create 730 jobs - hence the government is keen for the project to be got off the ground as quickly as possible.
The developers, Promociones Vistarga, will build a 500 bedroom hotel and a 3'000 square metre commercial centre as part of phase one, which has a budget of 40 million euros.
The company will also redevelop the entire area in preparation for phase two which will include the construction of three more hotels, again with 500 bedrooms each and the completion of the commercial centre at a cost of 104 million euros.
As agreed with the local council, the developers will also create green zones and landscaped areas for public use.
The government considers that this project will perfectly complement the one planned by the Sol Meliá International group in the resort.
At the end of last year the leading Majorcan hotel group unveiled its plan to link up most of its hotels in the resort and create the Sol Calvia Coast Resort.
This too has been declared in the public interest in order to get work on the project, which will involve new commercial centres, hotel renovations, the installation of wave parks and new attractions, as quickly as possible. The Sol project is also going to involve a major investment and will create hundreds of new jobs in the resort which has been struggling for the past few years