The Montebalito real estate group has formalized the creation of two new subsidiaries in the Canary Islands, Vistabalito II SL and Vistabalito III SL, consolidating its commitment to urban development in southern Gran Canaria. Both companies, registered in the Mercantile Registry of Las Palmas with effect from April 28th, have an initial capital of €3.000 and are established under the complete control of the regional parent company, Montebalito, the oldest company in the islands listed on the Spanish stock exchange.
The launch of these entities, whose operations officially began on February 27 of this year, has an ambitious roadmap: the purchase and sale of land, the management of building rights, and the comprehensive transformation of land through subdivision and urbanization. The registered offices of both are located on Calle Profesor Agustín Millares Carlo in Las Palmas, reinforcing the group's operations center in the province.
The management structure of these new subsidiaries reflects the recent change of leadership at the top of the listed company. Ana Belén Barreras, the group's executive chairwoman following the resignation of her father, José-Alberto Barreras, in October 2025, has been appointed joint administrator of both companies. She shares this responsibility with José Luis Rodríguez, the new key figure in day-to-day operations after being appointed CEO and a member of the company's strategic committees.
This legal move comes amid a generational shift and internal restructuring. After more than half a century in business since its founding in 1972, Montebalito seeks to streamline its real estate development capabilities under the leadership of the Barreras family. The appointment of Rodríguez as administrator and board member, still pending final ratification by the next general shareholders' meeting, underscores the technical partnership between the owners and the new executive management.
With a consolidated presence in international markets ranging from Germany and France to Brazil and the Dominican Republic, the reactivation of these companies in the Canary Islands suggests a renewed interest in the domestic market. The real estate group, which is listed on the continuous market, uses these sole proprietorship structures to protect and compartmentalize its urban development and subsequent construction projects in a territory that is strategic for its asset portfolio.
