Inversiones Marylanza, the property developer owned by Agustín and Jorge Marichal, is going to build a five-star hotel in Tenerife. The complex, which will be called Tenerife Blue Village, will require an investment of 60 million euros, compared to the 33.5 million euro budget set when the project was first announced.
According to Alimarket, on 21 December, the town’s mayor, José Julián Mena, signed the authorisation for work to start on the complex. In addition to the start of the construction of Tenerife Blue Village, the area is expected to experience a significant expansion in terms of its hotel offering. In fact, in the Partial Plan of El Mojón, the area spanning one million square metres where the hotel asset is located, at least one other four-star hotel is going to be built by the Spring Hotels group.
Read the full article in Spanish.