Altea, Alicante, still repaying Puentes de Algar development cancelled in 2013

ALTEA town hall returned another €1.2 million to the promotors of the cancelled Puentes de Algar Integrated Action Plan (PAI).

Returning the €7.7 million advanced by the development company for reclassifying land for a mega-development agreed by the current town hall team’s predecessors has had “important economic consequences”, town hall sources admitted.

A further €1.7 million remains to be paid, which Finance councillor Xelo Gonzalez expects to be able to settle by mid-2023.

“This PAI, a speculative operation that put our environment at risk as well as institutions and the municipality’s capacity for improving public services, will be a thing of the past,” Gonzalez said.

The Puentes de Algar project contemplated building 5,000 properties and several hotels along the banks of the River Algar, but was definitively cancelled after the Supreme Court confirmed an earlier ruling by Valencia’s Upper Court of Justice in 2013.

The same decision, however, obliged the town hall to pay back the €6.5 million land reclassification fee, plus €1.2 million paid for “improvements.”

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