Investment fund announces Marbella's biggest luxury hotel

2016-09-20 08:00:00

The Hong Kong-based investment fund, Platinum Estates has announced plans to build a five-star luxury hotel near the Real Zaragoza dunes, one of the Costa del Sol’s coastal areas with the highest ecological value.
The new hotel, due to open in summer 2019, will have 600 rooms and will involve an investment of 300 million euros. It is expected to be open all year round and create a thousand stable jobs.
The group’s CEO, Indian magnate Harry Mohinani, announced the project on Saturday alongside the group’s representative in Spain Juan Luis Segalerva and the mayor of Marbella José Bernal.
They explained that a confidentiality agreement prevented them from giving the name of the hotel chain that will be managing the hotel, as the firm has reserved the right to make its own announcement at an international tourism fair, most probably the World Travel Market in London this November.
Platinum Estates owns a number of hotels around the world which are tun by groups such as Hilton, Gran Plaza or Hyatt.
The new hotel will be located next to the beach in the Real Zaragoza dunes area, affecting around 151,000 square metres of land of which 35 per cent will be built on. The group acquired the land for 50 million euros last year and has reached an agreement with the town hall to develop the project which will include infrastructure work in the area.
The buildings will be no more than four storeys high and the rest of the area will include gardens, services and roads.
The use of this area for a hotel complies with the town’s urban development plan (PGOU) of 1986, currently in force in Marbella.
Work is expected to start next summer and completed within two years, with the hotel opening in 2019
The project includes the conservation of the dunes, collaborating with the Pro-Dunas organisation which won the Andalusian Environment Prize in 2012 and played a key role in Marbella’s dunes being declared an ecological reserve.
This announcement came just two days before a group of Qatari investors revealed the plans for the skyscraper luxury hotel to be built in the port of the city of Malaga.source surinenglish