La Miranda (eyesore on entering Corralejo) to become 5*hotel

[TamaraEnLaPlaya]

Noticias:

Corralejo's unfinished work will be a five-star hotel.

The structure known as "La Miranda" has been negatively impacting those who arrive in Corralejo for years.
The city council of La Oliva explained through its social networks how the structure known as La Miranda, "which has caused so much impact to those who enter Corralejo for years, has its hours counted as such."

 

In this sense, they explain that "an agreement has allowed Blackstone Group to become the sole owner and has initiated the mandatory procedures to continue with the construction of a 5-Star Hotel that will give a radical turn to that space and contribute to the economic development of our municipality and to reinforce the tourist leadership".

 

Meeting with the promoters

 
The mayor of La Oliva, Pilar González, after a meeting held with blackstone Group managers and municipal technicians, has shown her satisfaction and recalled that "when three years ago I assumed the Department of Urban Planning I set the objective of recovering that space against those who told me that it was unviable; when I entered the mayor's office I reinforced this commitment and today I can announce that in a short period of time the residents of La Oliva and those who visit us will see the change we wanted so much initiated"

link to article for pic for those unfamiliar with the eyesore!

[GSDGirl]

Hi,
Anything happening on the site yet?

[Johnrgby]

Hi,
Anything happening on the site yet?

Ummmm! No

[GSDGirl]

Should have guessed

[TamaraEnLaPlaya]

Hmmmm will this delay our eyesores getting sorted?

Noticias:

Blackstone reels from investor flight,

The American investment fund with strong interests in Fuerteventura suffers a strong flight of its Asian investments.

The Blackstone and Starwood Capital Group funds are suffering a flood of requests from their investors, especially Asian investors, to withdraw capital from Breit and Sreit vehicles, respectively.

 

This investment stampede has led both giants – which are important hotel owners – to limit reimbursements to investors, and they argue that, due to the nature of their investments (real estate), liquidity cannot be obtained quickly. "We are not a hedge fund. We can't liquidate our properties overnight at attractive prices," Barry Sternlicht, CEO of Starwood, told The Real Deal.

 

What would be the consequences on tourism of the fall of China's Evergrande?

 

The origin of the withdrawal of investors could be found in the fall of China's Evergrande. The debacle of the Asian giant generated concern among Chinese investors that has ended up spreading to the United States, where there is fear of a possible real estate crisis. Stephen Schwarzman, CEO of Blackstone, has come to the fore to defend the Breit fund, asserting in the Financial Times that insinuating that the product is going wrong because investors are withdrawing are "completely incorrect assumptions".

 

Properties in Fuerteventura

 

The fund has developed several investments in Fuerteventura in recent times, such as and through Hotel Investment Partners (HIP), Blackstone's investment vehicle, and Barceló Hotel Group reopening after 12 million euros of new investment the doors of the 'Barceló Fuerteventura Mar' -formerly known as 'Barceló Fuerteventura Thalasso Spa'.

 

In addition, the group had already invested 10 million in the Bahía Real and is planning an action where the Las Agujas complex and the ruined La Miranda building are located at the entrance to Corralejo. The mayor of La Oliva, Pilar González, met last October with heads of Blackstone Group and municipal technicians, "showing their satisfaction with the possibility that the situation of the building in ruins as a four-star hotel would have to be redirected"

 

The largest hotel owner in Spain

 
The Blackstone Group is one of the leading hotel owners in Europe and the largest in Spain. Through Hotel Investment Partners (HIP) —based in Barcelona—, they have a portfolio of 73 hotels totaling 21,479 rooms distributed between Spain, Greece, Italy and Portugal.

[TamaraEnLaPlaya]

Noticias:

Cleaning work begins for the reform of Las Mirandas at the entrance of Corralejo.

After almost 20 years spoiling the image at the southern entrance of Corralejo, the reform of the hotel complex "is a reality".

The people of Corralejo are in luck, because after more than 20 years with a terrible image at the southern entrance, the situation would change a lot with the reform of Las Mirandas. In this sense, the owner company has begun the previous work of cleaning and debris, as well as the change of the perimeter fence in order to proceed with the start of the works that will end, in the words of Mayor Pilar González, to "a visual nightmare and an authentic aberration that for two decades spoiled the image of Corralejo."



González wanted to recognize the commitment of the current owner company, "which throughout several meetings held with the municipal councilor, always showed its willingness to undertake the renovation of Las Mirandas as soon as possible to provide Corralejo with a quality commercial and tourist area, "he explains.



The mayor has expressed her great satisfaction for an achievement that "was one of the main objectives in this legislature" and wanted to thank "the great work of the staff of the technical office so that the reform of Las Mirandas can be affirmed already emphatically is a reality. "