The levels of construction in the Balearics has shown a massive upturn, with the highest levels since 2007 and this is set to continue to rise in 2016.
With a percentage increase on Mallorca of 22.56% and an amazing 79% on Ibiza, these are the best figures since the beginning of the crisis, in late 2007 and demonstrates the end to the long running economic crisis and also a revival of investors’ confidence in the market.
There are further plans to continue throughout the winter of 2015 and well into 2016 and there are huge investments are being made. The main theme for the Investment into Mallorca focusses mainly in the tourism sector.
This includes plans to continue the ongoing facelift to Magaluf as the island is determined to bring its image upmarket and we have already seen a remarkable improvement with very successful additions such as the stylish Nikki Beach and the opening of the trendy BH Hotel this year both of which have managed to pull in a cool and sophisticated crowds.
Word has it that there will be a new commercial centre in Magaluf underway for this winter with plans to have this up and running for the summer of 2016 and this will also go a long way to bringing the area a new glamorous vibe.
Another huge development which is well underway is the new Aqua Mágica Park, close to Can Pastilla, very close to the airport with a total estimated investment of around €300 million. AQUA MÁGICA will have the a complete selection of international and Spanish retailers, and a great selection of leisure activities for customers from all ages and all set in beautiful gardens with fountains with much of it open air.
With a grand total of 75,000 sqm. distributed between retail fashion, supermarkets, electronic store and a leisure park which includes restaurants, beer garden and a cinema plus much more and have a car park which has a capacity of more than 3,500 parking spaces.
This development of projects geared towards the touristic sector offers a certain optimism and this positive change will of course have a direct effect on job opportunities and will be another added attraction to the island for residents and Tourists alike.
I am sure that the residents of Mallorca are waiting with eager anticipation of the opening of these new ventures and this will for sure also attract a huge influx of tourists thus making the area much more desirable.