The Auction of Ramiterra S.L.: A Last Call for Salinas Golf Resort

In a significant development in the Spanish real estate landscape, Ramiterra S.L., the developer behind the ambitious Salinas Golf Resort in Fuerteventura, has decided to auction off all of its assets. This drastic measure comes after more than a decade spent in creditor competition, a situation indicative of the broader challenges that have plagued the real estate market since the 2008 crisis.

The Assets Up for Grabs

The auction, orchestrated by Trademat, includes several valuable assets. Among these are the golf course itself, the desalination plant that supplies water to the resort, and approximately 80 urban plots located within the picturesque coastal urbanization of Antigua. This collection of properties presents numerous investment opportunities, particularly for those interested in the real estate sector in the Canary Islands.

How the Auction Works

Potential buyers can participate in the auction through the Trademat website at www.subastastrademat.com. The auction is scheduled in stages, with closing dates stretching from October 31 to November 29, depending on the specific lot. This staggered approach allows interested parties ample time to prepare their bids and evaluate the assets on offer.

A Glimpse into the Resort’s History

Salinas Golf Resort was envisioned in the early 2000s as a luxury seaside community featuring exclusive homes and a world-class golf course. Unfortunately, the outbreak of the 2008 real estate crisis put a significant halt to these dreams. Sales plummeted, construction came to a standstill, and by 2012, Ramiterra declared itself in creditor competition—a move that would set the stage for the current auction process.

Local Government Intervention

Fast forward to July 2024, amid growing complaints from residents about the region’s deteriorating condition, the Ayuntamiento de Antigua took action. They announced the forced execution of the Partial Plan of Las Salinas, assuming responsibility for concluding the urban development projects and managing local public services. This governmental intervention highlights the urgency and importance of revitalizing the area.

Auctioning 79 Plots and More

The 79 plots will be auctioned separately to facilitate investment. This approach endeavors to attract a broader range of investors and developers, as buyers can bid on individual parcels rather than committing to the entire estate at once. Notably, the last asset to be auctioned will be the production unit of the golf course itself. Spanning over 463,000 square meters, this includes the desalination plant and an adjoining tourist facility, representing a significant investment opportunity.

Broader Economic Context

The auction takes place against a backdrop of increasing insolvencies in the Canary Islands. Recent statistics from the Colegio de Registradores de España reveal a staggering 49.6% rise in creditor competitions during the first half of 2025, with 1,451 procedures compared to 970 the previous year. This trend underscores the persistent challenges facing both businesses and the economy in the region.

Interestingly, while the number of insolvency competitions is on the rise, requests for bankruptcy have slowed down. There were only 51 business insolvency requests, a decrease of 10.5% compared to the same period in 2024. According to Luis María Arnaiz, director and co-founder of Subastas Trademat, entering into creditor competition can sometimes facilitate restructuring plans that help companies streamline operations to regain profitability.

Trademat’s Role in the Process

Trademat, a company based in Burgos and specializing in liquidation auctions since 2008, has emerged as a credible authority in the sale of assets belonging to bankrupt firms. They have established a reputation for expediting procedures and ensuring transparency for both companies and judicial administrators, which is critical in a challenging economic landscape.

By hosting the auction of the Ramiterra assets, Trademat not only offers an opportunity for investment but also plays a pivotal role in revitalizing a once-promising project that fell victim to economic turbulence.

For more information about the auction and available lots, interested investors can visit www.subastastrademat.com. Whether you’re a local developer or an international investor, the auction represents a unique opportunity to be part of the regeneration of the Salinas Golf Resort and its surroundings.