The investment vehicle managed by Abel Matutes and Manuel Campos, Mabel Capital, has bought land in Marbella for 50 million euros. According to El Confidencial, the land totals 50,000 sqm.
Based on the General Urban Planning Plan of Marbella, Mabel could divide the plot into 50 parts of 1,000 sqm and build 50 homes, as this number of sqm is the minimum buildable area. On the other hand, to enhance the exclusivity of future properties, they will be smaller and larger.
The new urbanization will have several similarities with La Zagaleta or Santa Margarita: properties above 10 million euros, exclusivity of the product and good quality. This land is located in the so-called “golden triangle” of the Costa del Sol; between Estepona, Ojen and Benahavís.
The investment vehicle has already a 40,000 sqm plot of land in Estepona for several years. On this plot Mabel plans to raise a promotion of villas and apartments, once the new PGOU of the municipality is approved. The most coveted part of this asset is that it is located on the beachfront and is one of the last undeveloped redoubts on the beach.