Mabel real Estate bets on Marbella: buys 50,000 m2 for luxury villas

Marbella está que echa humo. El apetito por comprar suelos sobre los que se pueda construir casi de manera inmediata y que queden dentro del Plan General de Ordenación Urbana (PGOU) de 1986 es enorme, y estos se cuentan con los dedos de la mano. Uno de ellos ha ido a parar a manos de Mabel Real Estate, el vehículo inversor liderado por Manuel Campos, Abel Matutes y el tenista Rafa Nadal. Mabel Real Estate apuesta por Marbella: compra 50.000 m2 para villas de lujo Mabel Real Estate apuesta por Marbella: compra 50.000 m2 para villas de lujo

According to real estate sources consulted by El Confidencial, the company has just bought 50,000 square meters of urbanizable land in Marbella next to the property of the royal family of Abu Dhabi, very close to some of the most exclusive urbanizations in the city. The transaction price has not exceeded, but brokers consulted value the land around EUR 50 million. The operation also means redoubling its bet on the Costa del Sol, as the company also owns a site on the front line of the beach in Estepona.

According to the PGOU of Marbella, the minimum building plot is 1,000 square meters, which would allow Mabel real Estate to divide the land into 50 plots with their respective luxury single-family villas.

Sources of the market assure, however, that their intention is to raise a smaller number of units to enhance the exclusivity, quality and location of the future project, which will follow the trail marked by the flagship of Mabel real Estate, Villa de Paris, the most exclusive luxury promotion in Madrid. Properties that will compete from you to you with the exclusive villas of La Zagaleta and Santa Margarita, where the properties exceed two digits.

Brokers consulted value this area around 50 million euros

Mabel Real Estate apuesta por Marbella: compra 50.000 m2 para villas de lujo

For us to get an idea, less than a kilometer from the future development, in Santa Margarita, an urbanisation located on the most expensive street in Spain-Santa Petronila-the scarce product for sale are villas of about 900 meters of plot and 700 meters built, with prices that move around 15 million euros in second line, and prices "completely out of the market" in the case of the few properties that come out on the front line of the beach.

A genuine candy that will allow Mabel real Estate to break into the superlujo market on the Costa del Sol, a market that has been damaged by the cancellation of the 2010 PGOU by the Superior Court at the end of 2015, as it has caused a real construction stop in Marbella from which nearby towns such as Estepona, Ojén and Benahavis, the so-called 'golden triangle' of construction on the Costa del Sol, have benefited.

Other ground on the beach front line in Estepona

Hence the importance of the real estate operation of Manuel Campos, Abel Matutes and Rafa Nadal, since the approval of the new general plan will still take several months, after this year the progress in the processing of the new PGOU in the town has been disrupted, as the current government team expects it to be finally approved before the end of its municipal term, in 2023.

But, in addition, the purchase of this land demonstrates Mabel real Estate's interest in the Costa del Sol, where for several years it has owned another 40,000 square meters next to the exclusive development of Alcazaba Beach, in Estepona, designed by the late Melvin Villarroel. This project, which will also have the same privacy and security, will house villas and apartments. The final project, as explained by market sources, has yet to be defined, as are prices.

In this case, the land is located on the front line of the beach and in one of the most expensive and highly priced areas on the Costa del Sol, as it is one of the last virgin beach reducts that have not yet been the subject of urban development. This operation, closed in 2019, involved an investment of about 20 million euros, according to the local press.

Mabel RE broke into the luxury residential market in Madrid in 2016

Mabel real Estate broke into the luxury residential market in Madrid in 2016 with the purchase of a building, Villa de Paris, in front of the Supreme Court, where the most expensive and exclusive apartments in the capital have been sold. Added to this operation was the purchase of a building on Monte Esquinza street corner with Alcalá Galiano, with the initial idea of transforming it into luxury housing, but which in 2018 was sold to the Entre Canales family.

The high prices experienced by the capital's luxury market led the company to diversify its investments both by product type and geographical area of investment, with its incursion into the heart of Lisbon with the purchase of an office building from a large Portuguese bank, or the development of a shopping center in Oeiras, among other acquisitions.

The last, a very coveted site in one of the markets of the Costa del Sol, that of Marbella, where luxury projects count on the fingers of one hand. And in a context of strong demand, that translates into rising price tensions.