Isha Sesay
BRITISH billionaires David and Simon Reuben have expanded their real estate portfolio in the Balearic Islands with the purchase of two coastal plots in Mallorca.
The acquisition demonstrates the Reuben brothers’ interest in the Balearic real estate market with the pair splashing out on 435 hectares of land in two of the most desired areas on the island.
The first plot can be found in Pollenca and boasts 165 hectares of land with 3.5km of unspoilt coastline.
The second lies in the upscale village of Andratx and has 270 hectares with a coastline also stretching to 3.5km.
The purchases bring the brothers’ property portfolio in Mallorca to an impressive 1,335 hectares and includes the 2019 purchase of 450 hectares of land in Manacor with 1.5 kilometers of beach, a natural lake and several caves including the Pirate Cave and the Pont Cave.
Ibiza has also been on the brothers’ radar in recent years, where in 2015, the duo bought 6.3 kilometres of central beachfront property on the island.
Obtained for the bargain price of €3.5 million from the local Gallart Sans family, the properties were acquired in Cala Conta, Cala Bassa and Port des Torrent.
More recently, the billionaires acquired the iconic El Hotel Pacha through a joint venture with the Pacha Group and will now take charge of its expansion across the world with a portfolio of hotels.
Born in India and raised in London, David and Simon Reuben have become leaders in private equity, real estate investment and development, as well as debt financing.
Their investments include retail, hotel, residential and infrastructure assets with the Portosole Sanremo marina in Italy and the British racetrack company Arena Racing Company being owned by the pair.
According to Forbes, the brothers’ fortune amounts to over €14 billion and they are the second richest family in the United Kingdom.
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