Reforms in Mallorca - Rejuvenate Old Architecture and Create New Areas of Business

As part of an ongoing series of "Eye opener" articles, we are going to explore some of the choices available to you as a homeowner or property owner looking to invest in or revitalise your property. The good news for residents looking to make an investment in their own homes in Mallorca is that, despite the economic recession, there is no real estate boom. However, there is a renewed sense of optimism throughout the island - and this article will provide an insight into how the residents of Mallorca are looking to capitalise on this period of renewed optimism.

The key estate developers in Mallorca have identified two key areas where they see growth potential: the central business district (EDC) and the peripheral areas of the town and beyond. The key to both of these investments is the establishment of a functional commercial base and the construction of enough apartment buildings and shops to justify an additional set of rent houses. Many of these developments are being planned by leading international construction companies who have chosen to expand their presence in Mallorca by building a string of new apartment buildings. These projects will not only provide housing for residents, but a firm base from which to operate a wide range of commercial ventures.

The success of any residential project depends upon its location. Mallorca's prime commercial area lies along the northern coastline of Palma bay and this includes the towns of Sant Luis, Altea and Santa Eulalia. The most important of these developments is Sant Luis, which forms the centre of the major transport hub in the area and is a thriving shopping village with a wide variety of independent stores, restaurants and bars. A major construction company, Sant Luis Commercial Estate has undertaken several successful apartment developments in the area, including one that is fully classified as retail property.

Another successful set of apartments in Mallorca are the refurbished flats at Santa Eulalia. This estate is one of the most popular shopping destinations on the island and a large number of visitors come here on holiday every year. Located close to the airport and the main railway station the majority of Santa Eulalia apartments are newly refurbished and remain in excellent condition. This development is managed by Pacifica Real Estate, which has an office in Sant Luis, which it uses as its main contact point when looking to invest in Mallorca properties.

The other major development in Mallorca is the refurbished centre blocks of Vitoria de Mallorca. Located between the Esplanade and Santa Eulalia this project is a joint effort between the government and private sectors. This project consists of the extension of the existing public transportation terminal and a new bus station, whilst also including new shops and offices. This is being managed by Pacifica Real Estate, with a presence in the area through leasing out apartments to those who wish to relocate to this part of Mallorca.

A third major retail area that has recently been built on the island is Sant Luis. This area is being developed by Pacifica Commercial Estates, who has hired the services of famed designer Antonio Gaudi to transform the rundown building into a center for new design and luxury architecture. Whilst the interior of the building remains the same as it was many years ago this latest development has added a large number of well-known brands and is proving to be a boon for residents of Mallorca. Both Santa Eulalia and Vitoria de Mallorca offer residents of Mallorca a chance to purchase property in some of the most sought after parts of the island and these developments represent an important step forward in the regeneration of the island. Click here for more details about Reformas en Mallorca