Walter Finch
THE expat colonisation of the Costa del Sol is set to continue apace with the announcement of a new property development.
The €100 project is intent on luring in wealthy investors from the United Kingdom and other North European countries.
Spanish real estate developer Aedas Homes recently announced it has acquired a large plot of land in Estepona and plans to develop a residential project comprising 150 homes.
The company is targeting both domestic and international buyers, particularly those from the Netherlands, Belgium, Poland, and Nordic countries – as well as the UK – who already have a strong presence in the region.
Construction on the first phase of the development is expected to begin in early 2025, with the homes scheduled for completion in 2027.
The project promises attractive views of Estepona’s Playa Cristo and easy access to beaches and other amenities.
The development is located just 500 metres from the beach at Playa de La Galera and is close to the Finca Cortesin resort.
It is also an hour’s drive from Malaga airport and – pending a deal between the UK, Spain and the EU – just 45 minutes from Gibraltar, which is potentially set to host another international airport.
Aedas Homes has increased its total real estatement investment by 12% to €222 million at the end of the fiscal year on March 31, up from €199 million the previous year.
Over the past four years the company has invested a total of €714 million in land purchases, accumulating land capable of supporting the construction of over 15,300 homes, the company claims.
According to a company statement in June 2024, recent investments are expected to generate more than €1 billion in annual sales and provide long-term business coverage for 4.7 years.
