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Chilean group launches 480-million-euro Costa investment

The project includes an artificial lake with six kilometres of shoreline.
The project includes an artificial lake with six kilometres of shoreline. / Josele-Lanza
  • The Alcazaba Lagoon residential and leisure complex in Casares boasts an artificial lake covering 1.5 hectares

Chilean investment group, Osim, got a series of projects on the Costa del Sol under way on Friday with the launch of the Alcazaba Lagoon residential complex in Casares.

The 400-property development involves a 200-million-euro investment on the part of the group headed by Chilean businessmen Óscar Lería and Patricio Rojas. It sees the previously abandoned Alcazaba Hills project restarted, adding a further 340 homes to the 92 which are already built.

However, the showpiece of this revitalised project is the creation of an artificial lake, the first of its type in Europe. With white, sandy beaches and crystal-clear waters, which are constantly kept clean and topped up, the 1.5-hectare lagoon is ideal for many watersports such as paddle surfing, sailing and canoeing. What's more, the water consumption is said to be lower than that used to maintain a lawn.

This is the first of several investments in the area, with a total cost of 480 million euros, which will be scattered along the Costa in other locations such as Marbella, Estepona, Torremolinos and Malaga.

Properties at Alcazaba Lagoon cost between 250,000 and 500,000 euros.