Abu Dhabi continues to expand its investments abroad and announced the purchase of one of the most luxurious and iconic villas in Europe. The Abu Dhabi company Modon Holding PSC acquired La Zagaleta SL, a residential development on the Costa del Sol located north of Marbella, which covers 2.7 million square meters of area.
This transaction marks progress in the development of luxury residences in the region, as is customary in this area of the United Arab Emirates. This investment will provide this territory with a hospitality section in the development, the general management of which will also include the more than 300 homes already built.
The luxury of Abu Dhabi will reach European shores.
Modon Holding PSC will provide La Zagaleta SL with the luxury that residents of Abu Dhabi are also accustomed to. In addition to what has already been built in this residential area, 60 villas of over one thousand square meters, 40 units as townhouses and duplexes, and a luxury hotel with 120 rooms will also be included. Additionally, there will be 120 villas as branded residences, which combine the amenities of a resort with a traditional home.
The acquisition of this exclusive enclave is aligned with the expansion strategy of the major developers in the Emirates, who want to increase their areas of influence in other parts of the world. In the case of Modon Holding, the primary objective is to “develop new possibilities for a large-scale luxury life,” as stated in their official announcement.
Abu Dhabi and its influence on European luxury.
The entry of Emirati investment into European territory marks a significant milestone in real estate, although the figures related to the agreement have not been disclosed. However, sources from European media indicated that it was a long process. In addition to the mentioned plans for La Zagaleta, the entry of Modon Holding also includes the Majarambuz project, which is pending urban development in the Sotogrande (Cádiz) area and spans 2.2 million square meters.
These spaces include a golf course entirely designed by Tom Doak, which features protected green areas and is also in the process of urbanization after overcoming various urban planning procedures. It will have a limit of 300 members and is part of this new merger that promises to redefine luxury in these territories.
The story of La Zagaleta will be in the hands of entrepreneurs from Abu Dhabi.
La Zagaleta is an ultra-luxury residential complex that was acquired by a series of entrepreneurs in the 1990s. It encompasses 900 hectares, which were previously owned by arms dealer Adnan Khashoggi, and is located in the municipality of Benahavís, 20 minutes from Marbella. Here, the most expensive residences in Spain can be found, including 250 villas and mansions.
The values of these properties can exceed 30 million euros. Additionally, this exclusive enclave features a helipad, two golf courses, an equestrian center, sports facilities, two clubhouses, and guarantees of privacy and exclusivity for its residents. This made it attractive for Modon Holding, which is a joint-stock company whose majority shareholders are ADQ —the state-owned enterprise of Abu Dhabi— and the IHC Group.
