The auction of prime beachfront plots in Fuerteventura has attracted major hotel groups
The auction of two prime beachfront plots in Caleta de Fuste, Fuerteventura, has caught the attention of leading international hotel chains, as liquidators move to sell off key assets belonging to the property developer Ramiterra.
Trademat, the company overseeing the sale, has opened bidding on a wide range of assets from the Salinas de Antigua Golf Resort following approval of the liquidation process by the Commercial Court No. 2 of Las Palmas de Gran Canaria.
Among the items up for auction are the golf course itself, the desalination plant that supplies it, along with equipment, vehicles, tools, and shop inventory, plus one apartment, 68 tourist-use plots, five residential plots, outstanding debts, and several additional plots.
However, the lots attracting the most excitement are two seafront plots included in Lot A2: plots P16A and P16B, measuring 30,194 m² and 5,100 m² respectively, each valued at €6 million. The auction, which concludes on Wednesday 26th November, also includes adjacent land classified as a heritage protection zone, with a combined starting price of €7.65 million.
According to market sources quoted by Economía Digital, these are considered “the most sought-after plots in Fuerteventura” thanks to their exceptional tourism potential. Planning regulations allow for the development of a four or five-star hotel with up to 421 beds, making the plots particularly attractive to major hotel groups.
The land sits directly on the coastline next to the island’s largest golf course, in an area already experiencing strong hotel growth with brands such as Eurostars, Sheraton, Elba, and Smy.
Ramiterra has been in insolvency proceedings since 2012, after being severely hit by the 2008 property crisis. Its earlier attempt to develop the resort, featuring a golf course and luxury tourist accommodation, was halted by the Canary Islands’ first tourism moratorium in 2001.
The company sought €127 million in compensation from the regional government, but its claims were rejected by the Canary Islands High Court in 2008 and by the Supreme Court in 2011.
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