David and Simon Reuben properties in Mallorca

David and Simon Reuben have snapped up land along the Mallorcan coastline in both Andratx and Pollensa. | Archives

Jason Moorepalma13/05/2022 10:15
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I suspected that British investment in Mallorca would fall following Brexit. It looked increasinly likely that Brussels would make life difficult for British companies wanting to invest in the European Union. There have been cases where British investment has stalled because of excessive red tape since Brexit, but thankfully this is not the case with Mallorca. British-based firms are investing heavily on the island.

Take Sir Richard Branson. His new hotel in Banyalbufar will be opening its doors for business next summer. His Virgin Group is spending a small fortune on the project which will also create in excess of 100 new jobs in the Banyalbufar area. Follow billionaires, Simon and David Reuben, have snapped up land along the Mallorcan coastline in both Andratx and Pollensa. They may not be billionaires but other wealthy Brits are investing heavily in local hotels.

The British love affair with Mallorca shows no sign of declining despite the difficult economic conditions and Mallorca is a sure bet otherwise great business minds like Branson and the Reubens would not be investing on the island. The Balearic President Francina Armengol and the British ambassador Hugh Elliott both said in interviews with the Bulletin that a special bond existed between Britain and the Balearics. This bond looks set to continue. Not even Brexit and all the fallout can dent this strong relationship.