Engel & Völkers buys a hotel complex in Ibiza for €130M

Engel & Völkers buys a hotel complex in Ibiza for €130M

Engel&Völkers, through its investment division, has acquired the 7Pines tourist complex in Ibiza for 130 million euros.

It is a five-star resort with 185 rooms located on the west coast of Ibiza. The complex, which extends over an area of ​​56,000 sqm, is located between Cala Compte and Cala Codolar and is built in the style of a village with whitewashed houses.

The German group 12.18 Investment Management reopened the hotel more than four years ago, after investing 74 million euros in its renovation, which made it possible for the establishment to increase its category, going from the three stars to the five that it currently has. 7 Pines has three restaurants, three bars, a spa center and three swimming pools, among other services.

In November 2020, Engel & Völkers decided to expand the services it offers its clients and strengthen the line of business specializing in the sale and rental of retail premises, hotels, offices and apartment complexes in Mallorca. The new division responds to the high demand of clients in this type of real estate investment. In this sense, Engel & Völkers Commercial Mallorca already has more than 100 active clients from Germany, Switzerland and the United Kingdom.

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