Qatari investors seek major partner for new 506-berth Malaga marina
In order to apply for the building permit, the investors will have to pay fees exceeding half a million euros to the city's urban planning department
The San Andrés marina in Malaga's Huelin district has almost all the paperwork resolved and there are no technical challenges standing in its way. However, the promoters of the project have still not applied for the building permit. Why is that?
The reason is that the company that has won the contract - Al Alfia fund from Qatar - is looking for a partner. Al Alfia is also the company behind the Torre del Puerto luxury hotel that is to be built on the Levante dock. The Qatari investors have already picked a partner for the hotel project - Hesperia - and now they are following the same approach for the marina initiative.
Partners on the horizon
Representatives of the fund are negotiating with companies specialising in marinas that will take over the construction and management of the port extension. According to sources, Al Alfia intends to remain only a minor capitalist partner (with 49%), delegating the day-to-day tasks to the new partner.
Ocean Capital Partners and IGY negotiate with Qatari investors for management of the future Puerto Banús in Malaga
Among the companies currently in negotiations with Al Alfia are Ocean Capital Partners (OCP) from Spain and IGY from the US. The two firms are collaborating, as they have been doing for the operation of the megayacht marina at Muelle Uno in the city.
There are also talks with a Balearic marina management company and a national bank, although no other details have been released.
500,000
euros is what the building permit could cost
Al Alfia is still committed to the project, having made all payments so far, as per the agreement. The Port Authority has confirmed that there have been no delays and that work is scheduled to start at the end of this year. The selection process for the construction company is also under way.
The remaining task - the selection of the management company - is at an advanced stage and should be ticked off in a matter of weeks. Until that is done, the urban planning process is at a standstill.
54
million euros is the estimated budget for the construction of the marina
In order to apply for the building permit, the investors will have to pay fees exceeding half a million euros to Malaga's urban planning department.
This is what the port will look like
The future Huelin marina will require an investment of around 54 million euros and will feature docks with a total capacity for 506 vessels, including two berths for large yachts up to 50 metres long and five berths for yachts up to 30 metres. The majority, however - about 400 spots - will be for boats under 12 metres.
The most important civil work will be the widening of the current breakwater that separates the dock from the beaches to create a wide platform for luxury shops, hotels and a nautical club with a restaurant.
