Historic Rialto Living in Palma de Mallorca Sold to Víctor Madera, CEO of Quirón
Der Unternehmer Víctor Madera, CEO of the largest private healthcare company called Quirón in Spain, according to a report in the MM sister newspaper “Ultima Hora” The building of the legendary Rialto Living in the old town center of Palma de Mallorca was taken over. The purchase price was not published, but it is one of the most valuable addresses in the historic core of the capital. The ensemble previously housed the former Rialto cinema and, before that, an 18th-century country house. For Madera, this is the latest coup in a series of spectacular transactions. Its activities range from taking over historical educational centers to converting them to the tourist use of listed buildings.
From Cinema to Concept Store: The Story of Rialto Living
Since its launch in 2014, Rialto Living has been considered one of the island’s most inspiring retail concepts: A mix of fashion, home accessories, art and a café within historic walls – today Magnet for discerning residents and visitors. The building itself combines Mediterranean history with a modern lifestyle: Films were shown within its walls as early as 1926, long before it became a gallery-like shopping address. The Swedes Käll and Bergman, with roots in the international design business – including co-founders of the Gant brand – have developed the store over the years cultural hub which combines fashion, art and local creativity. As part of the sale, it was agreed that the Swedish founding couple would continue the business operations of Rialto Living for several months – a concession intended to ensure cultural continuity in the heart of Palma.
Can Alomar: The Spectacular Heavyweight on Passeig del Born
Parallel to this transaction stands another historical heavyweight in the immediate vicinity in the spotlight of real estate speculation: the Stadtpalast Can Alomar am Passeig del Born. This magnificent ensemble with around 7000 square meters– including luxury hotel, exclusive shops and office space – has been owned by Sweden for a long time and is currently the most expensive property for sale in Mallorca.
According to media reports The asking price is 100 million euros and depending on the offer, could reach around 140 million euros. This means that Can Alomar surpasses all previous top properties on the island’s real estate market. As with many palaces in Palma, this also tells the story History of Can Alomar of economic and social dynamism: Originally owned by a wealthy Puerto Rican family in the 19th century, the property changed hands several times. Later it became a symbol of exclusiveness Shopping mile on Borne with international luxury brands such as Louis Vuitton and Massimo Dutti.
The Role of Swedish Investors in Mallorca
Both Rialto Living and Can Alomar reflect the role of Scandinavian investors in the Palma real estate market: Käll and Bergman shaped the old town’s retail and cultural offerings for over a decade, while the current owner of Can Alomar also has Swedish roots and is now selling part of his investment. Such transactions exemplify a broader trend: Palma is increasingly becoming an international hotspot for luxury properties, boutique hotels and concept spaces – a market in which historical substance and modern use increasingly go hand in hand.
The developments not only raise economic questions, but also cultural ones: Historic buildings are becoming capital investments while city centers are changing. Critics see this as a tendency towards gentrification that is changing local identity and social structures. Proponents, however, emphasize that many of these objects have only been sustainably preserved through international investment. For Mallorca this means: The island remains a highly attractive market for global investors – but the balancing act between the preservation of cultural heritage and economic use is increasingly becoming a test for politics and society.
What is the Quirón Group of Companies?
The Quirón Group is Spain’s largest private healthcare group. Apart from Quirónsalud The group operates a dense network of private clinics, hospitals and medical centers across the country. These include large high-end clinics in metropolises such as Madrid or Barcelona as well as specialized hotels in holiday regions – including Mallorca.
Owner and formative figure is Víctor Madera, who has massively expanded the company in recent years. In 2016, Quirónsalud was majority-acquired by German healthcare giant Fresenius (Helios), but Madera remained on board as president and continues to direct strategic development. Notable: In addition to its core business of health, Madera privately invests heavily in historic real estate, hotels and city palaces – especially in the Balearic Islands.
Read more about the sale of Rialto Living and its implications for Palma’s real estate market Here
Images Credit: www.mallorcamagazin.com