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Reading: Outrage over ‘Puerto Banus 2.0’ project in Malaga: Qatari fund misses key payment but mayor says ‘it’s not an issue’
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The Spanish Eye > Costa del Sol > Outrage over ‘Puerto Banus 2.0’ project in Malaga: Qatari fund misses key payment but mayor says ‘it’s not an issue’
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Outrage over ‘Puerto Banus 2.0’ project in Malaga: Qatari fund misses key payment but mayor says ‘it’s not an issue’

Last updated: April 7, 2025 2:13 pm
Laurence Dollimore
Published: April 7, 2025
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Malaga locals are fuming after it emerged the Qatari fund behind an ambitious marina project has failed to pay for the lease within the stated deadline.

The fund, Al Alfia, is constructing the San Andres Marina in the Port of Malaga, which many have dubbed the city’s ‘very own Puerto Banus’ – a ‘luxury’ port in Marbella that is filled with designer shops.

But Malaga Hoy revealed over the weekend how the fund has asked for an extension to pay the fee for the leasing licence, amounting to little over €300,000.

When quizzed over the revelations on Monday, Malaga Mayor Francisco de la Torre said he was unaware that they had not paid.

He told Cadena Ser radio: ‘I just found out, I have no information.. It’s not an issue that worries me; I know it will be done; it’s a good thing for the city.’

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The comments sparked fury among locals online, with one writing on X: ‘Try not paying property tax and you’ll see how the city council of Malaga overcharges you. That’s what happens when you’re not Qatari.’

Another said: ‘Qataris will always have priority… City for sale to the highest bidder. Thanks De La Torre…
we’re almost done with our heritage.’

Another jibed: ‘Hey, I’m going to stop paying the property tax and vehicle tax. Let’s see if the Mayor also says not to worry, and that I’ll pay.’

Others branded the situation ‘disgusting’, with one Spaniard accusing the mayor of ‘not even selling the city, just gifting it.’

Al Alfia, a sovereign wealth fund linked to the Qatari royal family, failed to pay the second instalment of the concession fee for the San Andres Marina on Friday, April 4.

The same fund is behind the Torre del Puerto skyscraper project in the port that has been plagued by delays and setbacks, as well as the Hesperia hotel chain.

Al Alfia’s request to postpone the payment must now be approved by the Port Authority of Malaga, who likely charge interest on the late payment.

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If the project continues as planned, works on the new marina would begin before the summer.

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