The investment vehicle managed by Abel Matutes and Manuel Campos, Mabel Capital, has acquired land in Marbella for 50 million euros. According to El Confidencial, the land totals 50,000 square metres and is located next to the estate of the Abu Dhabi royal family.
Based on Marbella’s General Urban Development Plan, Mabel could divide the land into 50 parts of 1,000 square metres and build 50 homes, as that number of square metres is the minimum buildable area. Instead, to enhance the exclusivity of the prospective properties, they will be fewer and larger.
The new development will have similarities with La Zagaleta or Santa Margarita: properties above 10 million euros, product exclusivity and good quality. The land is situated in what is known as the “golden triangle” of the Costa del Sol, between Estepona, Ojen and Benahavís.