ABAMA Seeks Luxury of a Different Kind

25th May 2005

This summer will see the soft opening of ABAMA, a new luxury resort on the west coast of Guia de Isora, Tenerife. The resort is surrounded by banana plantations and has stunning Atlantic Ocean views The resort will include a luxury 5 star hotel, a conference centre, a tennis club, a beach facilities, a spa and wellness centre, a golf course and designer restaurants and bars.

ABAMA is an initiative of Grupo Timón and is a result of an estimated investment of 225 million euros. Grupo Timón have financed the project with a syndicated loan of 125 million euros, managed by Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain. Other banks involved include Banco Santander, Banco Sabadell and Banco Urquijo.

Grupo Timón’s subsidiary company Tropical Tur’stica Canaria own the exclusive Tenerife hotel Jard’n Tropical, so with the addition of ABAMA they will become the leading hotel company in the Canary Islands. It will have 300 rooms in its main building and 120 rooms in its villas. The resort is set to help improve the island’s employment figures - in its first year of operation, ABAMA has been forecasted to create more than 1,500 direct jobs and 3,000 indirect jobs, which is a large majority of the local community.

ABAMA combines environments specifically designed for business, pleasure and sport with the philosophy of quality rather than mass tourism. It is a destination whose tourism concept is to offer clients total well-being as well as new ways of enjoying their free time during the whole year. Careful conservation and quality maintenance of the countryside surrounding ABAMA has been a top priority, with 300 different types of flora species and 100,000 newly planted trees and bushes scattered around the complex. The large array of vegetation includes the Dragon tree, which is native to the Canary Islands. As well as flora, guests will be able to enjoy the 22 lakes, waterfalls and a river.


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