The Belgian company Los Menceyes will develop a tourist and residential resort in Tenerife. The group has bought a 150,000 square metre plot in the municipality of Guía de Isora for 20 million euros from Mimeisa Asset Management, according to Expansión.
Two luxury hotels, housing, facilities, commercial space and hospitality businesses will be developed on the site.
The land is located close to other hotel complexes such as the Ritz Carlton Abama and the Gran Meliá Palacio de Isora. Located next to Playa de San Juan, the complex will have 58,500 m2, representing an additional investment of 80 million euros.
Los Menceyes has several luxury housing developments on the island: Seafront Luxury Residence, Colinas de los Menceyes and Jardines de los Menceyes.