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Per Svensson, president of FIPE has land reclassified for Commercial Purposes |
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In a polemic operation Per Svensson the president of the FIPE, Fundación Instituto de Propietarios Extranjeros (Institute Foundation for Foreign Property Owners) has had 10,000 square metres of land in Altea reclassified as building land.
His project is to build a complex of retirement homes on the 10,000m2 plot for both foreigners and Spanish nationals. However the problem lies in that other projects that have been proposed have been told that they would require 50,000 m2. Furthermore the project that has been approved personally by mayor, Miguel Ortiz, has a building density of more than 20% more than the permitted amount.
The FIPE is an organisation that was set up by Eduardo Zaplana when he was the head of the Valencian Government and before becoming minister. The FIPE has been under some scrutiny for its apparent lack of accenting information of major amounts Valencian Government monies. There has also been concern that there is a conflict of interest between the clearly commercial property based business that Mr. Svensson owns El Retiro Montahud SL.
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