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Qatar royal family to put up funds to build Malaga port hotel
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The family's affiliated holding company, Al Alfia, has committed to supplying the 150 million euros necessary to build the 35-storey tower
The project to build a luxury hotel and conference centre in Malaga Port took one major step forward last week as representatives of the Qatari royal family met with the city's mayor, Francisco de la Torre, to discuss the family's affiliated holding company, Al Alfia, leading the project.
The tower, to be located on the Levante dock, will need finance to the tune of 150 million euros - between 90 and 120 for construction and between 20 and 30 to equip it ready to be handed over to an international luxury hotel chain.
The design of the hotel includes a 135-metre-tall 35-storey tower, plus a conference centre in the basement. The original objective was for construction to take place between 2020 and 2023 but that now seems unlikely with a number of procedural processes still under way.
The meeting last Thursday was led by former Real Madrid Club de Fútbol president Ramón Calderón who acts as an intermediary for the Qatari royal family and though no statements were made following the meeting, SUR sources confirm that Al Alfia committed to financing the project without the need to go to the banks.
Though these sources wouldn't go into details about the operation, they did concede that shell company Andalusian Hospitality II will be taken over by Al Alfia and would be given the funds to carry out the project. However, until the relevant planning permissions have been granted and procedures carried out, no official announcement is likely to be made.
