Ramiterra to auction 80 parcels and Salinas Golf after filing for bankruptcy
The real‑estate company Ramiterra, promoter of the Salinas Golf Resort complex in Fuerteventura, has put all its assets up for auction to complete its liquidation and unblock the situation that has persisted since its declaration of bankruptcy in 2012.
The assets being sold individually include:
- The productive unit that operates the golf course.
- The desalination plant that self‑supplies the resort.
- 80 urban parcels in the coastal development belonging to the municipality of Antigua.
Bids are being opened in stages on the Subastas Trademat website, with closing dates ranging from 31 October to 29 November, depending on the lot.
Background of the Salinas Golf Resort
The Golf Resort Salinas project, promoted by Ramiterra S.L. in the early 2000s, was conceived as an exclusive seaside residential complex with a golf course and luxury homes. Expectations were so high that the promoter even slowed sales because demand outstripped supply.
The 2008 real‑estate crisis shattered those plans: sales collapsed, the urbanisation remained unfinished, and debts accumulated, ultimately leading to the 2012 bankruptcy filing.
Following complaints of abandonment from local residents, the Antigua City Council intervened. In July 2024 it announced the forced execution of the Partial Plan of Las Salinas, a statement from the promoter confirmed. This means the council has taken over the completion of urban works and the direct management of public services in the area.
The auction now comprises two parts:
- 79 urban parcels that are being sold separately to facilitate investment.
- The final lot, which contains the golf‑course productive unit (more than 463,000 m²) and the associated desalination plant, representing a sizable tourist establishment on Fuerteventura’s east coast.
“The forced execution of Las Salinas Golf opens the way for public rescue in other urbanisations.”
Bankruptcy Situation of Salinas Golf
Insolvency filings in the Canary Islands rose 49.6 % in the first half of 2025, reaching 1,451 cases compared with 970 in the same period of the previous year.
Luis María Arnaiz, director of Trademat, explained:
“The upward trend mirrors the national picture, where insolvencies increased by an average of 53.8 %, reaching 27,533 filings across Spain, according to the Colegio de Registradores.”
- In the province of Las Palmas, filings grew 31.8 % versus the first half of 2024.
- In Santa Cruz de Tenerife, they surged 94.9 %.
However, insolvencies exclusively for companies showed a modest decline: 51 filings, 10.5 % fewer than in the first half of 2024. Arnaiz added:
“For companies, entering insolvency often allows the establishment of restructuring plans, which means slimming them financially so they can become profitable again.”
Trademat Handles the Auctions
The auction is being conducted by Trademat, a Burgos‑based firm founded in 2008 that specializes in facilitating bankruptcy liquidations. The company assists lawyers and administrators in selling assets, reducing the administrative burden on entities undergoing insolvency.
Trademat is recognized as a reference point for the sale of assets arising from insolvency proceedings and for a wide range of auction types.