The Mallorcan group Pachá and the Sevillian businessman Rosauro Varo will develop a megaproject in Estepona with an initial investment of 25 million euros, according to ‘El Confidencial’.
Rosauro Varo and Pachá acquired, as part of their joint venture “Trilantic”, the Laguna Village shopping center, located between Estepona and Marbella, which was destroyed by fire in August 2020. The next owners of this establishment plan to make it one of the largest luxury resorts in southern Spain.
This ambitious project, scheduled to open in 2023, will have an area of 13,000 square meters and 1,200 meters of beach, located between Marbella and Estepona. The group of investors intends to design a complex that will be open every day of the year, without exception, divided into six working areas: a yacht club, a beach club, a children’s paradise, restaurants -club, shopping with experiences complementary to shopping, and a sport & live”, details “El Confidencial”.
According to the aforementioned media, one of the ideas of the investment group is to emulate the business model of the Lio Ibiza cabaret, in order to attract celebrities and thus popularize the area among the jet set. The idea of Rosauro Varo and the nightlife group Pachá is to turn it into one of the largest luxury resorts in the Andalusian region.
Pachá, rescued by the government
Last Thursday, the government approved four new financing operations for companies affected by covid-19 for a total amount of 54 million euros, including the nightclub company Pachá. The government justified this aid by the fact that these are companies “with a capacity for growth and a strong component of innovation”, on which depend not only 1,800 direct jobs but also “the survival of many other companies and self-employed”, having a significant impact on the territories where they are located, according to the Minister of Industry, Trade and Tourism, Reyes Maroto.
Apparently, the agreement between Pachá and Rosauro Varo was reached before the rescue of the Mallorcan leisure group by the Spanish government.