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Mallorca Island Council to Invest €469M in Playa de Palma
Improvements to Playa de Palma include a large increase in 4 Star hotels
The ongoing work and plans to give a facelift to Playa de Palma have changed a considerable amount over the past few years.
Plans to completely redevelop the area into a Miami style sea front have been dragging on, with few large scale improvements noticeable so far, however the latest meeting of the Mallorca Island Council on Friday announced that a whopping 469 million euros will now be spent on the area.
One of the largest changes to the original plans is the number of four star hotels, which will be expected to around 60% of the market by 2020 (yes, still a long way off). The overall numbers of bed space and accommodation will increase capacity to around 40,000 from where it sits currently at 30,000.
Most of the money is coming from private investors (€365m) with the rest coming from public funding & license fees.
No matter how much money is planned to be spent, it seems that they're definitely taking their time to spend it.
