A failed hotel project in Casares that left an unfinished eyesore on the landscape is finally going to have a future. Hong Kong-based Platinum Estates has bought the golfside site with its Spanish partners at Doña Julia, including the 50,000 square-metre shell of the building.
The investors will spend 50 million euros completing the building and turning it into a 200-suite property alongside the golf course. The original project was called Park Hyatt Casares Golf & Spa but financial problems saw the developer go bust. The site has now been bought from the bank.
Platinum Estates has also bought an extra 11,000 square metres nearby "at a good price" to develop as a shopping area.
The group hopes to finish the work within a year and a half and eventually create 300 to 400 full-time jobs. It says that it is in discussion with various top hotel operators who may be interested in running the new hotel.