IT was announced yesterday that Domus Mallorca SA, owned by British multi millionaire Robert Fleming, did not take up its option to buy the Pueblo Español for technical reasons but it plans to close the deal within the next few days. This was confirmed by the legal representative of Domus Mallorca, lawyer Luis Palmer.
At the end of July, the company had asked the Pueblo Español's owners, the Sa Nostra savings bank, for an extention to formalise the purchase, for which it paid 12.5 per cent of the total cost of the operation, set at six million euros, indicating that the deal would be finalised before October 1. In a brief note issued yesterday, Sa Nostra said that Domús Mallorca had not taken up the option on the complex, which will continue to be managed by Invernostra, adding that Domus Mallorca had expressed its wish to continue with the operation. Domus Mallorca sources said that the matter could be settled within hours or days. The Pueblo Español complex is in Son Armadans. It was opened in 1969, and was designed to combine tourism with congresses and social events.
It covers an area of 21'000 square metres and its congress facilities can cater to up to 5'800 people.
The complex is made up of reproductions of famous buildings from all over Spain, such as the Torre del Oro of Seville, or part of the Alhambra of Granada. It also has a wide range of craft shops, and numerous bars and restaurants.
It has been the setting for a variety of events ranging from folk dance festivals to concerts and fund-raising bazaars run by organisations such as Club Elsa. Sa Nostra became the major share holder in 1998, and the sole owner two years later.
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