Platinum, the investment firm behind the development of the W project in Marbella, plans to open the resort in 2025.
According to a document given to the Junta de Andalucía, both the developers and the Marriott hotel group, who will manage the resort under the W brand, expect that the tourism industry will have fully recovered from the pandemic crisis by then.
The project, including in the regional government's scheme to fast track key tourism projects, will involve a 200-million-euro investment. Of this 66 million will be spent on building the hotel and 23 on its fixtures and fittings.
Another 41 million will be spent on the construction of residential properties and 34 on the urbanisation of the area.
The developers predict a net profitability of 6.5 per cent and expect to have recovered their investment in just ten years.
The project has also involved the regeneration of the Real de Zaragoza sand dunes, an area of great environmental value on the east side of Marbella.
The company, based in Hong Kong, has already invested a million euros, according to the documents, in the project, which involves recovering a 200-metre strip for use by the general public and safeguarding one of Marbella's most important environmental areas.