Modon Holding PSC (“Modon Holding”), Abu Dhabi-based holding companyannounced this Thursday that, as part of its international expansion and investment strategy, has completed the acquisition of 100% of La Zagaleta SL (“La Zagaleta”), owner of the exclusive urbanization of the same name on the Costa del Sol. This operation represents a great milestone in the Emirati group’s entry into the European luxury real estate market.
La Zagaleta, nestled in the Benahavis hills and 20 minutes from the historic city of Marbella, it is a super luxury development in the heart of the Costa del Sol, which offers its residents an exclusive, safe and private lifestyle, with easy access to the stunning coastline, the vibrant coastal municipalities and the warm waters of the Mediterranean. Private urbanization comprises almost 900 hectares of landwith capacity for more than 400 villas and luxury plots, two prestigious private golf courses, two private Club Houses for members that include an exquisite restaurant, an equestrian center, a private heliport and sports facilities. The urbanization also offers its residents a wide natural environment, green areas for hiking and unparalleled views of the Mediterranean, Gibraltar, the Andalusian mountains and the northern coast of Morocco.
La Zagaleta has approximately 2.7 million square meters of land, which represents for Modon Holding a great opportunity to develop luxury homes in the heart of the Costa del Sol; besidesincludes a plot suitable for the construction of a hotel and the subsequent comprehensive management of the hotel offer and the more than 300 existing homes. The acquisition by Modon Holding will boost the development’s pending development while preserving its legacy, exclusivity and natural habitat. Likewise, the operation includes the Majarambuz project planned by La Zagaleta, known historically as Valderrama IIwithin the Castellar Development Plan, adjacent to Sotogrande, a land reserve of 2.2 million square meters (including protected green areas) that is located in the process of urbanization.
HE Jassem Mohammed Bu Ataba Al ZaabiChairman of Modon Holding, said: “The acquisition of La Zagaleta represents a significant milestone in Modon Holding’s international expansion strategy, and supports our vision of developing new possibilities for large-scale luxury housing. La Zagaleta is considered one of the most prestigious and exclusive private developments in the world and is an outstanding addition to Modon Holding’s portfolio. This acquisition sets a benchmark for future expansions and perfectly aligns with Modon Holding’s ambition to consistently exceed expectations, as well as bringing new potential and capability to our international real estate strategy.
Bill O’ReganGroup CEO of Modon Holding, added: “With a well-established reputation for its exceptional design, its wide range of luxury and leisure services, and careful management of the natural environment, La Zagaleta is a place where luxury, privacy and security are absolutely guaranteed. The potential to continue the legacy of La Zagaleta, expand it through the development of Majarambuz, a project historically known as Valderrama II, and the possibility of expanding the Zagaleta brand internationallywill be a key element of Modon Holding’s strategy for this acquisition. We are proud to welcome La Zagaleta to our portfolio, as part of our strategic expansion in one of the most attractive luxury real estate markets in Europe.
Ignacio Perezexecutive president of La Zagaleta, commented: «The success of La Zagaleta is built on a firm commitment to quality in every detail of the development, which we believe offers our residents an incomparable experience of luxury and safe housing. Modon Holding’s investment brings a new dimension that will allow La Zagaleta to carry out the next phase of its vision, exploring the full potential of its brand and its experience. We face the road ahead with great enthusiasm.”
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