A British investment company has given its backing to relaunch an uncompleted luxury housing estate in Cala Romantica. It involves 159 homes which are partly built with building work stopping in 2008 after the builders run into financial problems. The total project has a cost of 70 million euros.

Now the project is to be launched through the Spain-based fund Ibero Capital which has the backing of London-based Blanktyre Capital. The two are in the process of buying a number of Spanish property assets. They believe that the residential housing market in Spain is an excellent investment.

The purchase will be welcomed by residents of Cala Romantica who have long complained that the unfinished estate has become an eyesore.