Hong Kong-based investment fund, Platinum Estates plan to build a five-star luxury hotel near the Real Zaragoza dunes in Marbella.
Due for completion in the summer of 2019, the luxury hotel will have 600 rooms and involves an investment of 300 million euros. The development will be the biggest luxury hotel in Marbella and will be open year-round, creating a large number of stable new jobs and a brand new destination for tourists and residents of the area.
Platinum Estates own a number of hotels around the world and are run by groups such as the Hilton, Gran Plaza and Hyatt. However, the specific hotel chain who will be adding Marbella to their locations is not yet known. It is expected that they will make the announcement at the World Travel Market in London this November.
The hotel will be located right next to the beach in the Real Zaragoza dunes area. Set on 151,000 square metres of land of which 35 per cent will be built, the group acquired the land for 50 million euros last year.
The town hall have now agreed to the infrastructure of the new development, which will include no more than four storey high buildings and an area that includes gardens, services and roads.
The project will be in compliance with the town's urban development plan (PGOU) of 1986 and includes the conservation of the dunes. Work will begin next summer and be completed within two years.
Attracted to the Costa del Sol's economic growth and many tourist attractions, a group of Qatari investors have also recently revealed plans to build a skyscraper luxury hotel in the port of the city of Malaga. The project will be the result of a 120 million euro investment, it will create around 1,300 jobs during construction and a further 350 when it opens in 2020.