Arrecife Town Council has quietly approved an additional payment of €11 million to the owners of the Ginory site, bringing their total compensation to over €40 million. This was announced without fanfare, photos, or public celebrations, prompting strong criticism from the local Socialist Party (PSOE).
The PSOE highlighted that this decision follows what they described as “the greatest scandal of public money in Lanzarote’s history,” which occurred on December 31, 2021, when the transfer of funds was initiated. They accuse the governing partners of failing to demand accountability from the Ginory owners, who have yet to provide documentation proving ownership or the current condition of the site.
“This has resulted in the most expensive piece of land in Lanzarote being essentially worthless. While another €11 million is being advanced, no negotiations have taken place to eliminate the interest on these payments,” the party stated.
The PSOE also pointed out that with over €30 million squandered on festivities and more than €40 million on the Ginory site, the People’s Party (PP) and Coalición Canaria have collectively mismanaged nearly €90 million from municipal funds, enriching a select few at the expense of the public.
