Los Menceyes to Build Resort in Tenerife for 100 Million Euros

Los Menceyes to Build Resort in Tenerife for 100 Million Euros

Belgian group Los Menceyes has acquired a 150,000-square-meter plot of land in Tenerife from Catalan company Mimeisa Asset Management to build a multifunctional complex combining residential and tourist infrastructure. The transaction amount was approximately 20 million euros, while the total investment volume for resort construction is estimated by market sources at a minimum of 80 million euros.

The plot is located in the municipality of Guía de Isora — an area that houses luxury hotels such as Ritz Carlton Abama and Gran Melia Palacio de Isora. The land is situated on the first sea line, near Playa San Juan beach, with a total buildable area of 58,500 square meters, attracting significant Belgian investment in the tourism sector.

Construction began in autumn, with completion scheduled for 2023. The development plan includes two luxury-class hotels (with areas of 24,000 and 19,700 square meters respectively), residential properties, infrastructure, and commercial hospitality zones.

Mimeisa company handled the urban development of the territory, approval of the partial plan, obtaining environmental permits, and urbanization. According to Jaume Roig, the company’s real estate director, “Mimeisa increased the asset’s value and liquidity after completing all administrative procedures and obtaining the possibility to begin construction.”

Los Menceyes is a Belgian family enterprise specializing in real estate development in Tenerife for European clients. Currently, the company is implementing several luxury housing projects, including Seafront Luxury Residence, Colinas de los Menceyes, and Jardines de los Menceyes.