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Puerto Banús Reveals Traders Attempting to Profit from Land Speculation

February 13, 2024
Puerto Banús Reveals Traders Attempting to Profit from Land Speculation - mini1 1707220504 - Local Events and Festivities - Land Speculation

Controversy Reopens Between Puerto Banús S.A. and Local Traders

The long-standing legal dispute between Puerto Banús S.A. and some local traders has once again become public, following an exchange of statements. The concessionaire has responded with accusations that some business owners have attempted to speculate with the land, making them “accomplices” in the “deterioration” of the premises.

Open War Between Puerto Banús S.A. and Traders

The conflict between Puerto Banús S.A. and some traders, who have been litigating against the concessionaire for years, has resurfaced. This follows a harsh statement released by the traders on Monday, to which the concessionaire has now responded forcefully. The dispute has become public again due to a request to extend the initial 99-year concession period for the port area.

Allegations of Land Speculation

The company denies that there is a widespread problem, instead referring to it as an “alleged conflict” with “some well-known traders”. They accuse these traders of trying to speculate with concessionary land, subleasing spaces owned by the concessionaire without authorization and for values that are several times the rent they hoped to recognize to their legitimate owner. They also claim that these business owners have threatened actions that they are now trying to combat, due to their refusal to accept imposed rents or to carry out facade works without the concessionaire’s consent.

Efforts to Reverse Deterioration

Puerto Banús S.A. has shown clear signs of reversing the process of deterioration and degradation, which they claim certain establishments have been complicit in. Regarding the extension of the concession period to the initial limit of 99 years, they state that it is a regulated act, not subject to any discretion.

Requirements for Concession Extension

For the concessionaire to extend the concession, they must meet various requirements, such as carrying out a significant investment of at least 20% of the current value of the facilities subject to the concession. This should result in a qualitative and quantitative improvement in employment, overall efficiency, and competitiveness of the activity being developed.

Public Ownership of Roads

In their statement, they also remind that the City Council is not the owner of the roads that run through the concession or service area of the port, as the public institution has stated on numerous occasions. Regarding the extension of the concession, they note that in 1967, occupation was authorized in the maritime-land area between the Verde River and 400 meters west of the projected west pier.

Concession Granted in 1967

Through an order of September 12, 1967, from the Ministry of Public Works, the administrative concession was granted to the company Puerto José Banús of Andalucía la Nueva S.A. for the construction of a marina. The authorization had a term of 99 years from March 4, 1968. During the democratic stage, different regulations were issued that cut the maximum period to 30 years, in the case of the Coast Law of 1988, and later, in 2013, it was raised to 75 years. Finally, the Andalusian Law 2/2020, of November 12, regulated the extension to its initial period of concessions granted before 1992. In accordance with this new regulation, Puerto Banús has requested the extension until March 4, 2067, the period initially planned when the concession was granted.

Traders Oppose Concession Extension

In their note, these business owners continue to defend the public ownership of the roads and question whether the spaces of Levante beach are within the concession, among other aspects. This is the very forceful response from the concessionaire Puerto José Banús S.A. to yesterday’s statement by a law firm representing some of the traders.

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