A SECOND planned golf resort to be built on the western Costa del Sol coastline has received a major boost yesterday thanks to government intervention.
The project to transform a 100 hectare stretch of coastline in the Axarquian town of Torrox into a golf resort and urbanisation has been bailed out by the local government after one of its investors filed for bankruptcy.
The plan, led by Calaciete Golf SL, was derailed after numerous financial complications hit the region, leading to the primary investor, Calaciete Developments to declare bankruptcy and pull out of the project.
Faced with a deficit of around €400,000, The Torrox local council stepped in and invested €404,393 of shares, making them now 78% shareholders.
The remaining shares are owned by Madrid based promoter Level SL.
Mayor of Torrox, Oscar Medina, claims that the project will revolutionise tourism in the Torrox area, and will place the region firmly on the map on par with the likes of Marbella and Estepona.
The project is to include an 18-hole golf course with associated restaurants and facilities plus an urbanisation of roughly 3,000 homes.
It will also coincide with a new marina facility in the currently unspoilt cove sat on he border between Nerja and Torrox.
The similarities between this project and the controversial neighbouring Larios Golf project are clear, and critics have called out the local government for being blinded by tourism and employment figures.
“Golf tourism is an insular sector and is not sustainable.” said Andres Jimenez, councillor for UPNer on the construction of golf resorts in the area.
“The public is brainwashed with all these spectacular promises, but fast forward ten years down the line and it will end up just like the regions other resorts, either unfinished or unsuccessful.”
The Calaciete project has been on the cards since 1992 when it was included in the General Urban Planning Plan but was put on hold in recent years due to the COVID-19 pandemic and government office changes.
It has also been the victim of the Barragan case, a settlement made to an ex-councilor for €3.8 million for wrongful dismissal which led to the embargo on various plots of land in the area.
Medina hopes that their commitment will attract further investors.
“We are hoping to find one or more highly solvent investors who are committed to developing the golf course, the homes and the marina.”
“Since the project has all the viability from a legal, urban and environmental point of view we hope we can bring more companies to the table.” said Medina.
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