Lopesan to receive €300M in Canary Islands tourism moratorium settlement

The Government of the Canary Islands has reached an out-of-court settlement to resolve more than two decades of litigation regarding the tourism moratorium. The agreement aims to end legal disputes stemming from 2001 regulations and Law 19/2003, which restricted the growth of accommodation offerings and halted previously approved urban development projects.

Under the pact, affected companies will receive approximately 485 million euros in total compensation, roughly half of the 1 billion euros initially claimed. Lopesan is the primary beneficiary, set to receive 300 million euros due to its significant number of blocked developments in southern Gran Canaria and Fuerteventura. Other companies involved in the settlement include Satocan, Dreamplace, and Seaside Hotels.

The resolution also impacts urban planning for the affected lands. For the next five years, the automatic reclassification of these plots as rural land will not be applied, allowing for a re-evaluation of tourism projects in Gran Canaria and Fuerteventura under current planning frameworks.