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Venezuelan investors buy building on iconic square for tourist lets

Plaza de la Merced, 22.
Plaza de la Merced, 22. / G.Pozo
  • The building is on the northern corner of the iconic Plaza de la Merced where it joins with Calle Victoria

The purchase of buildings in the historic centre of Malaga by multinational companies has accelerated considerably in the last few months, with a number of investors keen to capitalise on the surge of tourist interest in the city.

The latest is the purchase of the building on the northern corner of the iconic Plaza de la Merced where it joins with Calle Victoria. It has been bought by Orinoquia Real Estate behind which is a Venezuelan family business, located in Spain, which has already made multimillion-euro investments in Madrid, Barcelona and Valencia.

The building, which will be refurbished, will be turned into tourist accommodation and be ready to welcome guests in four months.