By Chris King •
Published: 27 Jul 2021 • 18:26
Gerard Pique's family business buys the old Andalucia cinema in Malaga city.
GERARD PIQUE’S family business has reportedly purchased the land of the old Andalucia cinema in Malaga for €20 million, which the FC Barcelona star’s company will convert into a 5-star hotel
The Kerald Holding company, which is chaired by the father of FC Barcelona star, Gerard Pique, has reportedly purchased the land of the old Andalucia cinema in Malaga city, with the intention of developing a 5-star hotel on the site.
According to SUR, the land was bought for €20 million from Inversiones y Acquisiciones de Hoteles SL, but it is expected that by the time the project is completed, the investment will be nearer to €50 million, and will be a luxury hotel operated by the renowned Melia chain.
The original old Andalucia cinema which is located around Plaza de la Merced and Calle Victoria in the city of Malaga, had been standing derelict for the best part of a decade, and then the building was destroyed by a fire back in 2014.
This plot of land had already been bought once, back in 2017, by the company Inversiones y Acquisión de Hoteles SL, and Sarasola Room Mate, a company belonging to businessman Mike Sarasola, had been granted authorisation to build a 176 room, 4-star hotel on the site, with a reported investment plan of €30 million.
The developer had the licence approved in mid-2018 to build the hotel, along with an underground car park, a restaurant, swimming pool, and other hotel amenities, with the intention of the project being carried out in two phases, the first being the demolition of the existing building, and then the second to construct the hotel, but the licence had a planning period of only 22 months attached.
Speaking to Malaga Hoy, Malaga City Hall’s Councillor for Land Management assured that, if the news is confirmed, it is “something important” for Malaga that is in line with what has been done, “Attract quality investment and in this case, no one doubts that these types of companies are set in cities with a certain level. For us it is a challenge that we think is fantastic”, as reported by malagahoy.es.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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