No payout for Altea failed riverside developers

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ALTEA will not have to pay €4.7m compensation to promotors Altea Futur, who are part of the Ballester real estate group, for annulling, their “Puentes de Algar” project back in 2013.
The Puentes de Algar urban plan had been approved initially in 2001, when the Parted Popular were in power. The macro project consisted of 3,000 luxury homes to be built alongside an 18-hole golf course, complete with leisure areas, shops and hotels and 20 metre wide avenues.

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