According to sources close to newspaper Sur, The property group Mabel Capital, controlled by the Balearic entrepreneur Abel Matutes (son of the former minister and businessman of the same name) and his partner Manuel Campos Guallar, has landed on the Costa del Sol with a project for the construction of more than 30 luxury seafront homes.
The investment group will construct 30 beachfront villas on a plot of land in Estepona valued at more than €20 million.
The Madrid-based company allocated more than €20M for the purchase of Los Llanos de Estepona, a 36-hectare parcel found on the beachfront in this municipality. This plot is known as one of the last undeveloped beachfront areas still earmarked for luxury real estate on the New Golden Mile.
The town plan in place at the moment allows the development of semi-detached houses, yet the intention of the investors is otherwise. Mabel Capital is looking to construct high-end single-family homes (luxury beachfront villas), for which it would be required to make a transition to the urban development plan (PGOU). This should take about a year.
The plot was previously in the hands of the Cloppenburg family. The owners of Peek & Cloppenburg, an international chain of retail clothing stores with headquarters in Germany. The property, planted with eucalyptus trees, is one of the last that has not yet been urbanised, hence the price – almost 600,000 euros per hectare. The area is also surrounded by high-end beachfront real estate. Among the neighbours is the bullfighter José Tomás.