The Balearic Government has paid 3.4 million euros to buy the Son Jaumell, Cala Torta, and Es Pins Campaners estates in Mallorca's Llevant region from a company whose sole administrator is Fawziah Al Hassawi, a relative of the Emir of Kuwait.
Fawziah Al Hassawi is the daughter of Mubarak Abdul Azif Al Hassawi, who first came to Mallorca in the 1960s. The family owns one of the largest residential and commercial complexes in Kuwait and has buildings and hotels in Bahrain, the Emirates, Saudi Arabia, and Lebanon.
Their investments include Spain, but the sale of the estates to the government indicates a desire to sell off holdings in Mallorca. It is the second sale of a large unspoiled area year, following the sale of the Capocorb estate in Llucmajor, where there was once a project to establish a project that would have created, from scratch, a new town with 12,000 people. A Supreme Court ruling of 1999 finally blocked this and also saved the Balearic Government from having to pay 70 million euros compensation.
Mubarak Abdul Azif Al Hassawi began investing in Mallorca in the 1960s at the height of the tourism boom and the development that came to be referred to as the 'Balearization' process. Rural properties of great environmental and heritage value were acquired. The company remains the owner of one of Calvia's large estates, Ses Planes.
None of the estates have ever been developed because of legislation that designated them Natural Areas of Special Interest, the highest possible level of protection.
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FredI am willing to bet that land is classified as virtually unbuildable on. Hence the apparent low cost. The Arabs don't have our best interests at heart. They have their wallets . They took the best offer they could get for land they could never develop. Famous quote : I never saw a Saudi lift anything heavier than money.
WOW the Gov did a hell of a good deal with buying all that back for what is a Drop in the Bucket can't be right you can't even buy a old fish house by the sea for less than 7 million and they have reclaimed several beach´s and land for nothing .
Its a long time since I heard the 60's described as ' the height of the tourism boom ' The start maybe.