We are talking about IFA Beach de San Agustín, IFA Dunamar and IFA Continental at Playa del Inglés, in Gran Canaria, according to Spanish Real Estate.
Part of the cash made on the sale will be invested to renovate other buildings, since “the Group owns lots of hotels that were constructed in the 1970s that need renovating, which means that it will invest the majority of this new capital in refurbishment projects”, according to sources close to the Group.
Another major project in which Lopesan is involved is the construction of a tourist complex with more than 1,000 rooms in the Dominican Republic. Specifically, it is working with its German subsidiary, IFA – in which it holds a majority stake – which forms part of its international expansion strategy. Recently, has purchased 12 million shares in the construction company Sacyr.