Spanish real estate developer Gestilar has acquired a 12,470 m2 plot in Marbella, province of Malaga, with plans to construct a €90 mln residential complex.
The development will encompass 115 multi-family homes featuring two to four bedrooms and expansive terraces. Residents will enjoy access to extensive communal amenities including a fitness center, lounge, pool, and landscaped gardens.
Prioritizing sustainability, Gestilar will incorporate eco-friendly features such as aerothermal energy, energy-efficient lighting, and drought-tolerant landscaping.
Javier García-Valcárcel, CEO Gestilar, commented: ‘The development in Marbella is very significant, due to its investment volume, excellent location and quality of the project. In addition, with the purchase of this new land we are consolidating our expansion strategy in Andalusia and beginning to operate in one of the most exclusive and dynamic residential markets in Spain.’
This latest acquisition follows Gestilar's recent purchase of 2,600 m2 in Madrid’s Arturo Soria neighbourhood for €7 mln. The total investment in the project is expected to reach €17 mln. The development will have 21 homes with 2 and 3 bedrooms and a terrace, including large common areas, a parking space, and a storage room.
In June, Gestilar started marketing its Isla de Onza residential development in Galicia, comprising 140 single-family and multi-family homes in Areas, in Sanxenxo.
Gestilar projects 1,000 home deliveries in 2024 and aims to expand its cooperative management and house flipping divisions while maintaining a steady delivery rate of approximately 500 homes annually. Backed by Morgan Stanley, Gestilar has delivered over 6,000 homes to date.
