Grupo Empresas Matutes (GEM) is to spend the next six years developing the resort to appeal to the growing luxury market and to balance tourism across the entire year.
Projects started last year when Palladium opened its Ushuaïa Ibiza Beach Hotel and he converted Grand Palladium Palace Ibiza Resort & Spa, with a shopping centre, parking, green areas, an 18-holf golf course; new footpaths and sports facilities to be developed. The entire regeneration is due to be complete in 2018.
“Now is the time to regenerate the popular Ibiza tourist areas to appeal to those looking for upmarket accommodation in Ibiza,” said Abel Matutes Juan, president of GEM. “This project will benefit the island financially, multiplying the original investment many times over and will generate employment for small and medium sized businesses in Ibiza.”