In partnership with Azur Estates, a leading property developer in Spain, MIMCO Capital is structuring the development of a 22,000 square meter plot on the heights of Marbella. This large-scale project of 14,600 square meters consists of 143 luxury apartments which be developed in the form of a "branded residence": high-end tourist residences managed by a hotel operator.
Work will begin at the end of the first half of 2023.
The project is subject to a building permit that has been obtained and cleared of all appeals in May 2023. Work will begin in September 2023 along with the sale of the properties.
The program will be sold off-plan to private buyers who will benefit from a fully managed premium second home by a leading hotel operator, without the inconvenience of managing their property remotely. In addition to enjoying the comfort and services of a professional operator (pool, restaurant, concierge, check-in, cleaning, etc.), this management model will provide them with rental profitability throughout the year.
The land, located in the municipality of Benahavís, benefits from an ideal location within the "Golden Triangle" of the Costa Del Sol, halfway between Marbella, Estepona, and Puerto Banus. Located near the Sierra de las Nieves National Park with its many golf courses and only 10 minutes’ drive from the beach, the residence is ideally situated.
"MIMCO Capital is thrilled to be able to partner with Azur Estates on this ambitious project and thus confirm the group's ability to operate throughout the European market for investment and private debt. We strongly believe in this concept of premium 'branded residence' apartments in areas with high tourist appeal, which perfectly meets the expectations of investors and travelers." comments Christophe Nadal, co-founder, and CEO of MIMCO Capital.
Thanks to MIMCO’s deep industry expertise in real estate and financial structuring, we were approached with this development opportunity, highlighting the group's recognition at a European level.
"We are delighted to announce our partnership with MIMCO Capital, a leading player in real estate fund management in Europe. By combining our understanding of the local real estate market with MIMCO's vast expertise and investor network, this partnership provides a tremendous opportunity for both of our companies. We are convinced that this collaboration will enable us to draw on our respective skills to implement an ambitious and innovative project. We look forward to realizing this vision together." adds Roberto Bergonzi, Founder and CEO of Azur Estates.
New information regarding the project and the hotelier will be communicated in the future.
