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Fuente Álamo looks set for its biggest building boom in decades, with plans now in motion for a huge expansion of the Hacienda del Álamo tourist and residential complex.

 

Mayor Juana María Martínez has signed off on a decree extending the town's urban planning agreement for another four years, pushing the deadline to June 2030. The agreement covers the second phase of Hacienda del Álamo's expansion, along with nearby plots of rural land close to Corverica and La Murta.

 

The original deal dates back to 2022, when it was signed with developer Profusa and Spain's so-called bad bank, Sareb, which handles assets from the banking crisis. Sareb has since sold its stake in the land to Abala Desarrollo Inmobiliario, part of the Hozono Global group, which has now been added to the agreement.

 

All told, the development covers around 739,143 square metres of rural land, with room for an estimated 3,000 new homes once the necessary planning work is completed. True to the existing Hacienda del Álamo style, prospective owners can expect low-density living rather than high-rise blocks, with the plans built around single-family villas and Mediterranean-style holiday apartments designed to blend into the surrounding landscape.

 

This new phase adds to work already under way. Abala announced back in 2024 that it had bought up the remaining building plots from Sareb in the development's first phase, with plans for a further 1,100 homes there too.

 

Council sources say the four-year extension simply gives developers the breathing room needed to draw up detailed plans, get through what can be a lengthy regional environmental approval process and finalise the technical side of the project.

 

Financially, the council is keeping its hands relatively clean. Officials say the deal splits responsibilities clearly, with the council overseeing and approving the project but not paying towards it. Developers, on the other hand, are covering every cost themselves, including more than €15 million worth of infrastructure work covering water, sewage, electricity, telecoms, street lighting and paving.

 

As part of the deal, the developers must also hand over 10% of the site's profitable building potential to the council for free, along with land for public spaces, roads and green areas. The council has already received €443,485 from the agreement, with further income expected as building permits and occupancy licences are issued for each new home.

 

Because of the sensitivity of the Corverica and La Murta areas, the new homes won't be able to draw water from Fuente Álamo's existing municipal supply. Instead, developers will need to fully fund an extension of the pipe network themselves, connecting into the wider Taibilla Canals Consortium system.

 

 

Image: Ayuntamiento de Fuente Álamo