The venture was launhed before the crisis, it includes a recently inaugurated 4 star Sheraton hotel, a golf course, sports facilities, 1.390 built dwellings, 424 of which still unsold, and land to build a further 900 single family fractions – in a future 120 million euro investment. Once finished, the project might be worth around 300 million euro.
Joaquín Ucelay, head of projects at Sareb, explains, quoted by Expansión that this plan is divided in 4 parts, with a duration of 8 years, and it is not yet settled whether it Sareb will undertake the project on its own, or if it will search for partners. The sale of the terrains is also an option.