ARG Promociones has finalised the acquisition of a plot of over 12,000 sqm in the vicinity of Puerto Banús, where it will develop a new high-end residential complex with an estimated total value of €150 million upon completion.
The transaction represents one of the most significant land acquisitions carried out to date by ARG Promociones and will enable the company to undertake a large-scale development in one of the Costa del Sol’s most internationally renowned residential locations.
The plot is situated close to the Hotel Guadalpín Banús and Puerto Banús, in an established area characterised by the limited availability of land capable of accommodating a project of this nature.
The future development will be aimed primarily at the international high-end residential market and will combine contemporary architecture, privacy, sustainability, integration with the surrounding landscape and a range of services inspired by the ultra-luxury hospitality sector.
The homes will start at approximately 170 sqm and will feature terraces, private gardens and a selection of penthouses. The residential development will include communal areas with a spa, gym, outdoor swimming pools, wellness areas, social spaces, a concierge service and security.
Planning, design and regulatory approval work will take place over the coming months.
The acquisition of the plot is the result of an agreement reached between ARG Promociones and the company linked to the legacy of José Banús, founder of Puerto Banús and driving force behind the development of Nueva Andalucía.
“From the very outset, we have encountered a great willingness to reach an understanding and a shared vision regarding the importance of preserving the value of this location and developing a project that lives up to its potential”, said Guillermo Magallanes, CEO of ARG Promociones.
