Tuenti social media co-founder takes control of Puerto Banús bullring

The landscape of Puerto Banús is set to change substantially with the disappearance of one of its most iconic buildings: the bullring. Marbella business owner Félix Ruiz, known for having been one of the founders of the social media site Tuenti and currently at the head of companies including Playtomic and Auro Group, has taken control of the company that owns the bullring together with another partner, who have plans to demolish it. If Marbella town hall gives them the go ahead, the business leaders plan to use the land to build properties "in accordance with the legal urban planning framework", which classifies the land as a development site.

The operation has been channelled through the company VTC Mobility, whose ownership is split 50-50 between Félix Ruiz and Luxembourg Finance House, a firm represented by Álex Villaverde, a Spanish-Dutch businessman also based in Marbella. They have acquired the majority of the shares of Plaza de Toros Puerto Banús SA - whose sole administrator until now was Emilio Rodríguez - for an amount that has not been disclosed. The bullring was built 55 years ago and has not hosted bullfights for a long time. In recent years it has been used to host concerts and other shows.

"VTC Mobility is committed to the development of a real estate initiative that aligns with the current urban planning legal framework and brings significant benefits to the local community. The existing bullring, located at the heart of the development site, has been identified as a significant source of noise in an upmarket residential area. VTC Mobility recognises the impact this has on residents and has set out to transform the space into a vibrant and harmonious asset for Marbella," said the purchasing company.

"Our involvement in this project in Marbella marks an exciting milestone for us as we expand our presence in the dynamic Spanish market," said Felix Ruiz. "We are committed to creating a development that not only complies with all planning regulations, but also actively contributes to the wellbeing of the community, addressing existing concerns such as noise pollution," he added.

Alex Villaverde, representing Luxembourg Finance House, added: "This investment reflects our confidence in Marbella's potential and our commitment to responsible development. We look forward to working closely with the municipality and local residents to deliver a project that will have a lasting positive impact."

Both say that VTC Mobility will work "in close collaboration with both the town hall and local residents throughout the development process" for which they will provide more details "at a later date". The added, "This collaborative approach will ensure that the new activities planned for the space are carefully integrated and bring maximum benefit to the community," A sports facility could, for example, fit in with the project.