La Generalitat Approves the Purchase and Subsequent Sale to Hard Rock of the BCN World Plots

The Generalitat of Catalonia has authorised the public company Incasòl to buy, from La Caixa for €120 million, the land where Hard Rock is planning to build the hotel and leisure macro-complex BCN World. Likewise, the Government has agreed to allow Incasòl to sell the plots for the same amount to the multinational Hard Rock, which will lead the development of the Hard Rock Entertainment World project, located in Tarragona.

After months of stagnation and more than two years after the planned start date, the Generalitat has finally made the €120 million advance to unlock the BCN World project. The Generalitat assures that it will not be taking on any risk with its acquisition of these plots, since they will be automatically sold onto the US  company Hard Rock. Last week, the company that represents Hard Rock submitted a letter in which it promises to acquire the land in Salou by no later than 5 May 2020.

 

Original Story:

Translation/Summary: Carmel Drake

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