The Local Government of Mogán has granted planning permission to Rentivestcan S.L. for the construction of a 5 star multi-apartment complex in Puerto Rico. The Consistory is set to receive around €120,000 in capital gains revenues when this development has been approved for inclusion in the Costa de Mogán’s existing Plan for Modernization, Improvement and Increase of Competitiveness (PMM).

The complex, which is to be named Grand Horizon‘, will be located on Roque del Este Avenue, on plot 177 of the Puerto Rico Partial Plan, and will consist of four volumes in which 33 one to two bedroom apartments will be distributed overlooking the beach.

In total, 4,515.65 square meters will be built which it will contribute to the expansion of housing and to the improvement of the tourist offering from the municipality, adding to the now more than fifteen urban agreements entered into between the Mogán City Council and private entities under the umbrella of the PMM Costa de Mogán for the renovation of holiday establishments.

With this new 5-star complex, jobs will be created that favor the revitalization of the local economy and the process of updating the mature tourist nucleus of Puerto Rico continues, thus adapting to the current demand from those who choose it as Holiday destination.

In addition to granting this urban planning license, the Mogán Local Government Board approved the calculation of the capital gains that the Consistory will receive, in total €119,468.17. Likewise, the provisional liquidation of the Construction, Installations and Works Tax (ICIO) for 155,306.23 euros was approved.

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