Property
Sections
Highlight
Sections
Highlight
Jesús Hinojosa
Malaga
Tuesday, 27 August 2024, 11:16
Opciones para compartir
Spanish tennis star Rafael Nadal is coming to the Costa del Sol with two luxury housing projects. They will be developed by real estate company Palya Invest, which Nadal created together with businessman Abel Matutes, and in association with Sierra Blanca Estates, which will be responsible for building and marketing the projects of luxury flats and apartments.
Sierra Blanca told SUR the plan is to develop 47 beachfront homes on a plot of land in the Los Llanos area of Estepona, which was acquired in 2019 by the Mabel Capital group, owned by Abel Matutes and Manuel Campos Guallar. Earlier this year, Nadal and Matutes broke off relations with Campos, with whom they managed restaurant businesses, and decided to continue on their own with real estate projects such as those they are now going to develop with Sierra Blanca.
The land in Estepona covers an area of some 36 hectares. As announced in 2019, the intention was, and still is, to build a development of luxury multi-family homes, with direct access to the beach.
In the second development in Marbella, a multi-family project of around 40 luxury homes is earmarked for the Nagüeles area. Sierra Blanca's intention is that the construction of these almost one hundred homes, in which Nadal and Matutes' real estate company plans to invest around 200 million euros in total, including the Estepona project, can begin next year. They will be built under the concept of branded residences, such as luxury homes with access to the services and amenities of a five-star hotel.
Sierra Blanca, which acts as a partner of the tennis player Nadal and the businessman Abel Matutes, who was foreign minister between 1996 and 2000, adds these projects to other luxury projects it has been developing for years on Marbella's Golden Mile, such as the so-called Epic, with 74 first-class homes, of which the third phase is about to be delivered, and five exclusive villas designed together with designer Karl Lagerfeld, of which it has already sold three at prices of around 15 million euros. It is also awaiting planning permission for a complex of 92 homes that it is also going to build on Marbella's Golden Mile, designed by Dolce & Gabbana, of which half have already been sold off-plan at prices ranging from four to twenty million euros. Sierra Blanca has also built one of the three towers of luxury flats in the Torre del Río area, on the west coast of Malaga city, with penthouses for ten million euros.
This new real estate project comes amid Sierra Blanca's intention to build a tennis club in Malaga city. After considering the location of this centre on the plot that currently houses the car park of the Palacio de Deportes Martín Carpena, Nadal and Matutes finally opted to develop it in the facilities of the current Inacua racquet centre, whose construction and operation was awarded ten years ago by the city council to the company Ferrovial Servicios. Development would involve carrying out a thorough remodelling and even expansion of these facilities.
However, the city council already warned them that this operation requires reissuing the concession for which the land was awarded to Ferrovial through a new public tender. That involves the city council to rescue the current concession, in the hands of the company Serveo, formed by Ferrovial (which originally obtained the concession in 2014) and the Portobello fund. To do this, the most feasible way forward is for the promoters of Nadal's club to pay this concessionaire financial compensation to give up the remaining ten years of the concession.
This would allow the council to recover the plot, including the current sports facilities, to put it out to tender again.
Publicidad
Publicidad
Publicidad
Publicidad
Reporta un error en esta noticia
Necesitas ser suscriptor para poder votar.