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Monday, 22 January 2018 05:06

Are Chinese Investors Really Buying Güi Güi Beach?

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Güi Güi beach in west Gran Canaria Güi Güi beach in west Gran Canaria photosgrancanaria.com

Rumours that Güi Güi beach is on sale in China are true, but the whole exercise is probably just an attempt to get the Gran Canaria authorities to buy it.

 

The two beaches at Güi Güi and a big chunk of the surrounding valleys are currently on sale on a Chinese real estate portal for six million euros. Chinese tourists love pristine, pollution-free destinations so the area is being marketed as a long-term investment with tourist potential. 

However, given the protected status of the area, there is more to the story than meets the eye.

The current owners of the land and beaches, not mentioned by name in the press reports, are probably trying to get the island authorities to buy the land from them: Betting that if a credible buyer emerges, the Gran Canaria government (Cabildo) would come under pressure to match the bid and buy the land. 

However, last time the area was on the market the local authorities decided against trying to buy it as it is already heavily protected from development by law. 

The beach and surrounding area are part of the Gran Canaria Biosphere Reserve and are therefore legally impossible to develop. There is no way that anyone can put hotels or any new buildings anywhere by Güi Güi beach or the valley behind it.

The Biosphere Reserve rules are so strict that it doesn't really matter who owns the actual land at Güi Güi. 

Read 1396 times Last modified on Monday, 22 January 2018 05:35
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