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Millenium Pays €12 Million for a Hotel Plot on the Beachfront in El Palmar (Cádiz)

The Socimi, which plans to make its debut on the main stock market in the short term, already has a portfolio of 13 assets worth approximately 560 million euros.

Render El Palmar

The Socimi Millennium has bought a plot of land to build a luxurious eco-resort on El Palmar beach, located in Vejer de la Frontera (Cádiz). Millennium Hospitality Real Estate, which specialises in the luxury hotel sector (5*) in Spain and Portugal, has announced to BME Growth the acquisition of a 66,543 square metre plot of land for hotel use for 12 million euros, an investment made entirely using its own funds.  

With this purchase, Millenium’s portfolio now contains 13 properties worth approximately 560 million euros. All in carefully selected locations, the Socimi’s properties are situated in some of Spain’s main cities and major tourist areas.

Read the full article in Spanish.

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