"Light Blue" Development
Two of the 6 villas are located in a development called "Light Blue" and were traded for an average of 2.3 million euro. This complex, located in an area known as El Paraíso, includes a plot with a 5.262 sqm GLA and a 1.578 sqm above ground buildable area, and a total of 5 single-family villas. These units feature basement, ground and first floor, with four or five bedrooms, garage, garden and a swimming pool.
The other project developed in Cancelada is called "Antik Villas" and includes a plot with an 8.400 sqm GLA and a 5.262 sqm buildable area. This development includes the construction of 7 single-family villas, with basement, ground and first floor, four bedrooms, a covered garage, garden and swimming pool. In this case, 4 of the 7 villas were sold for an average of 1.5 million euro.
The developments of El Paraíso and Cancelada, both located in Estepona (Malaga), are directed towards the luxury segment and foreign buyers. They are the second and third housing project Mazabi developed within its joint venture with local partner Lainer.
Mazabi’s CEO, Juan Antonio Gutiérrez, remarked that «the results have been very good and we are very interested in continuing investing in more luxury housing projects in the Costa del Sol, more specifically in Marbella, Estepona and Benahavis».
Mazabi with its sights set on hospitality
Mazabi, after having acquired a luxury apartment complex in Tenerife in October, is currently analysing new investment opportunities.
The company has an open Due Diligence process for three new opportunities in Hospitality, part of a long-term bet on tourism within prime locations, one of which is located in Malaga and the others in Madrid and the Balearic Islands.
Mazabi expects to formalise these operations before the end of the year, supported by the usual family offices who invest with the company.