Tremón Wants To Invest €300M In Málaga’s Tívoli Amusement Park

13 March 2017 – Diario Sur

The real estate group Tremón is planning to modernise the mythical Tívoli amusement park in Benalmádena, and develop the surrounding area into a retail and leisure complex. The Madrilenian company is looking to create a complex covering more than 152,000 m2, which will include two retail areas to the east of the amusement park, a green space and an underground car park with 2,000 spaces.

The plans, which would involve the transformation of Arroyo de la Miel, would see more than 57,000 m2 of land being dedicated to retail use, a hypermarket, several cinema screens, three office buildings, an auditorium and a hotel. The space dedicated to Tívoli would not change, but the park would be subjected to a comprehensive remodelling process involving the installation of 43 attractions including a space for demonstrating extreme tricks and an artificial snow dome, which would take up almost all of the southern area. The complex, presented as a large theme park, retail and leisure centre, would retain the Tívoli name.

Until now, the ownership of the amusement park has represented the main obstacle preventing this project from being carried out. Tremón bought Tívoli from the businessman Rafael Gómez, known as Sandokán and owner of the company Arenal 2000, in a huge operation that included the sale of 7 million m2 of land spread over thirty-odd properties across Andalucía.

Nevertheless, Gómez claimed that the purchase had not been completed and took the matter to the court for alleged non-payment. That situation led to the paradox that the ownership of Tívoli belonged to Tremón, but the park was still managed by a company linked to the Cordoban businessman, who was recently sentenced to five years in prison for crimes against the Tax Authorities.

According to sources in the know, Tremón has expressed its willingness to go ahead with the project, committing investment of more than €300 million, as soon as the tortuous legal process with Sandokán has come to an end. The proposal has convinced the Town Hall of Benalmádena, which is keen to expedite the administrative process on the basis that the creation of jobs and the economic impact of the complex would constitute a unique opportunity to reactivate the commercial fabric of Arroyo de la Miel. In addition, the Town Hall will pocket a huge amount of money for granting building permits and other tax revenues, which will breathe life into the very empty municipal coffers. (…).

The project would create more than 1,600 direct jobs during the construction phase, which would last for two years, and another 3,300 jobs once operational. (…).

Original story: Diario Sur (by Alberto Gómez)

Translation: Carmel Drake

RE Firms Prevalent On Hacienda’s List Of Overdue Debtors

24 December 2015 – El Mundo

The tax authorities have published their list of overdue debtors for the first time.

Four large construction companies from the bubble – Reyal Urbis, Nózar and the Cordoban companies Prasa and Arenal 2000 – together owe the tax authorities €852 million.

The real estate bubble was made possible not only thanks to the banks’ willingness to grant loans, but also because the property developers that borrowed money stopped paying their taxes. That is the main conclusion to be drawn from the list of overdue debtors that the tax authorities have published for the first time just days before Christmas Eve – which features construction companies and manufacturers of construction materials in abundance. (…).

Almost none of the stars of the Spanish real estate bubble are missing from the list of major overdue borrowers. Four names stand out in particular: Reyal Urbis, owned by Rafael Santamaría; Nózar, owned by the Nozaleda family; the controversial property developer Rafael Gómez ‘Sandokán’ (Arenal 2000) and the Cordoban group Prasa, owned by the Romero family. Together, the four owe debt amounting to €852 million.

Reyal Urbis leads the ranking of overdue borrowers with a tax debt of €378.2 million. (…). But countless other companies owe millions of euros. From Fernando Martín, the major shareholder of the bankrupt Martinsa Fadesa (€65.39 million) to Carlos Cutillas, one of the main operators in the north of the capital with his company Inmobiliaria Chamartín (€20.53 million). Alongside them feature hyperactive property developers from the boom years, such as Dirusa (€40 million), the Lábaro group (€27.8 million) the Álvarez family (Gedeco-Avantis, with €17.7 million) and Detinsa (€29 million).

Riofisa, the construction company created by the Losantos family and acquired at the height of the boom by Luis Portillo, owes €31.97 million. Another one of the major overdue borrowers is Hilario Rodrígeuz Elías, who was considering listing Group Tremón, a construction company with operations in Madrid and Andalucía, on the stock exchange. His companies Atlantis Servicios Inmobiliarios and TR Hoteles Alojamientos y Hosterías together owe €47.77 million. Other less well known property developers that also have sizeable debts with the tax authorities include: Ventero Muñoz (€11 million); the unknown Ramón Olivareas Garrigós (€68.6 million), owner of Grupo Casoli and the company Vivienda y Bienestar SL; Carlos Monteverde de Mesa, owner of Grupo Monteverde (€13.9 million) who was linked to the “Blesa case”; José Ávila Rojas (€4.3 million); and the Torrego family (Conther), former owner of Cine Bogart and Continental Auto (€2.5 million).

Sahanuja, the great Catalan saga

The Sanahuja family owes the tax authorities €37.2 million through three of its companies -Sanahuja Escofet, Sacresa Terrenos and Sacresa, Terrenos y Promociones-. (…). Another one of the largest overdue debtors is Vicente Roig, owner of Grupo Coperfil, who owes the tax authorities €69.79 million through four companies.

Marina D’Or and the Valencian clans

Jesús Ger, who was behind the Marina D’Or golf complex, owes the tax authorities €46.3 million through his company Comercializadora de Mediterránea de Viviendas. (…). The Community of Valencia is very well represented in the list of overdue debtors. Another illustrious surname is that of the Serratosa Caturla brothers, who together have a debt of €15.9 million. They are joined by Bautista Soler, the partner of Luis del Rivera, who owes €26 million through the companies Inmobiliaria Lasho and Urbanas de Levante. Andrés Ballester, owner of Edificaciones Calpe and the company Nereida, with a debt of €17.7 million. And the controversial builder from Alzira, Vicente Girbés Camarasa, owner of Grupo Blauverd, with €20.6 million. And Juan Cotina and his companies Asedes Capital and Asedes Infraestructuras, with €21.4 million.

Other (in)famous overdue borrowers include the Mexican businessman Luis Nozaleda Arenas; the Romero family, the Sánchez Ramade brothers and Rafael Gómez Sandokán, all from Cordoba; and Facundo Armero, the Murcian developer behind Polaris World, who owes €78.5 million.

Original story: El Mundo (by José F. Leal)

Translation: Carmel Drake