Should a tourist enclave with as much international fame as the Canary Islands be worried about the failure of the megalomaniacal project by a supposed group of investors who intended to turn Salamanca into “the new Dubai”?
After the "pufo" that tried to turn Salamanca into "the new Dubai", regional governments and councils throughout Spain are beginning to look askance at all possible investments that could come from abroad to their territories. The reality is that the Salamanca project sounded strange since word began to spread; new neighborhoods, the largest planetarium in Europe, around thirty tram stops, luxurious shops... all this in a city with a cold climate, mainly university and which, without counting the students who are "passing through" the city, has an average age of 50,06 years; an average that exceeds the Spanish average by more than 5 years (44,1)
After a series of investigations by local journalists, it was discovered that the advisor who had been hired by the city council to arrange meetings and conferences with that supposed group of investors lied on his resume and in addition, it was confirmed that the public tender through which entered the town hall was practically “tailor-made” The interested “group of investors”, called Peace City, had not had any type of activity since 2019 and its capital, which amounted to four million euros, had not been disbursed. Information that turned the Salamanca town council upside down and that reached all the national media, thus confirming the economic “pufo” that, rather than trying to turn Salamanca into “the new Dubai”, intended to fill the pockets of a few. With all the information on the table and a target on his back, the false advisor disappeared without a trace and leaving a city council pending a commission of investigation and with many explanations to give to citizens about the use of public money.
Beyond being curious news that cost the Salamanca City Council almost 40.000 euros, this information should be taken with a grain of salt in areas of Spanish territory that are more susceptible to receiving million-dollar investments, such as, for example, the Canary archipelago. One of the main tourist destinations in Europe, with an average temperature above 20 degrees practically all year round, kilometers of coastline and an ecosystem full of fauna and species unique in the world; The Canary Islands could be perceived as an idyllic destination for foreign investors.
In fact, already in 2016, Sulaiman Al Fahim (one of the investors who acquired Manchester City in 2008) showed his interest in investing 500 million in the islands over a period of ten years. According to the sheikh's words, the money from his investments would be used to purchase land on the islands; a purchase aimed mainly at the execution of tourism, business and audiovisual projects. Sulaiman also tried to acquire the “Granca”, the island's basketball club; an operation to which the Gran Canaria Council refused at that time. Unlike the situation in Salamanca, this time it was a sheikh with a journey in the world of investments, mainly due to the acquisition of Manchester City, which put him on the covers of the majority of sports newspapers in the world for years. back. Despite the dissemination that the news had years ago, the specific acquisitions that Sulaiman has made in the archipelago during these years have not been made public.
In the archipelago, although gigantic projects have been proposed such as the creation of the largest film studios in Europe in Fuerteventura or new tourist complexes on the islands, there is no known other “sheikh” or large foreign investor who has arrived to the islands with desire to spend large amounts of money. However, in May of last year, Felipe VI agreed with the Emir of Qatar, Tamim bin Hamad Al Thani, an investment in Spanish soil that would be aimed mainly at the country's energy and real estate sector, but that would also allow the creation of new infrastructure. .
Both Sulaiman's investments in the Canary Islands and that of the emir of Qatar in national territory seem legitimate and supported by a public figure with extensive experience in the world of investments and the Qatar Investment Authority, respectively; But, after the Salamanca scandal that has already affected the regional government of Castilla y León, a new scenario is expected in which institutions show more reluctance and parsimony when it comes to accepting the arrival of foreign investors.
With Salamanca upside down, the Salamanca tourism department in the spotlight and an investigation commission underway to clarify what happened, the big question now is: can this nonsense be repeated again in any other community?
