Fund preparing €150 million for the purchase of tourist complexes in Gran Canaria

€150 million is being prepared by the management firm Bestinver, owned by Acciona, to make a large investment in the hospitality sector in the south of Gran Canaria.

As reported by Maspalomas24h, Bestinver has partnered with the SmartRental Group, which specialises in investments in hotel assets, hostels, serviced apartments, and even restaurants, to acquire tourist complexes in Maspalomas through the joint fund Smart Living Properties.

SmartRental has set its sights on initiating a powerful growth plan in southern Gran Canaria in 2024, according to Carlos Escoda, CEO of the group, to expand in the residential sector to "update the hotel offering and provide a new direction to many of the assets currently managed by independent operators."

From these statements, it can be inferred that many of the complexes and shopping centres that are currently neglected and outdated could end up having a second life, if renovated and revitalised after the investment from the joint fund.