EU’s tallest residential tower completes, 15 years after work started

The Intempo Sky Resort, a 198m-tall M-shaped residential tower, has been completed in southern Spain after a 15-year construction period.

The building was designed by architects Pérez-Guerras and Olcina & Radúan (Diego Delso/CC BY-SA 3.0)

Work on the building began in 2007 just before the global financial crash collapsed the Spanish residential market.

It later resumed, but was halted by the bankruptcy of its developer in 2014, according to a report in newspaper El País.

In 2017, ownership passed to the US distressed-debt specialist SVP Global, who employed Spanish contractor Dragados to continue the work, according to El País.  

Billed as the tallest residential tower in the European Union, the finished structure has 256 apartments on 47 storeys on Benidorm’s Playa de Poniente. According to its publicity material, ownership of one of them comes with a private balcony and access to 6,500 sq m of amenity areas, including two pools, a restaurant, cocktail lounge and gym.

The cost of apartments ranges from $3.5m for a penthouse on the crossbar, down to $300,000 for one-bed condo.

So far, around 100 have been sold, 60 to Spanish buyers and the remainder to Russians, Germans, Belgians, and Scandinavians.

Top image: Poniente Beach in Benidorm, the "Valencian New York", showing the tower under construction in 2014 (Rubén Ojeda/CC BY-SA 3.0 es) 

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