Construction firm Insur is to build 120 new homes on a plot of land in an expanding area of Estepona, close to the feria ground and the new athletics stadium.
The expected investment on the three-storey project, to be known as Insur Alborán, is 23 million euros. Building work should start next spring.
Designed by CHS Arquitectos, the complex will have one to four bed properties and two swimming pools. There will also be a social club and communal areas.
Insur has been increasingly investing in Malaga and the Costa del Sol. Last month, it was announced that the firm would be building a futuristic office building for rent called Ágora near the Huelin seafront, to the west of Malaga city centre.
Other projects already completed by the 75-year-old group in previous years in the area include Elements, Alminar and Los Naranjos, in Marbella, and Altos del Retiro, Residencial Puerta del Mar and Plaza del Teatro in Malaga city.
Area in full expansion
The area of Estepona town where the new development will take place is know as Juan Benítez and includes the Felipe VI auditorium as well as the new athletics track. There is also a new northern urban link road for the town in the area.