Laurence Dollimore
SOTOGRANDE could soon be in the hands of Saudi Arabia as it prepares to be put up for sale, it has emerged.
The luxury resort was once regularly visited by Princes William and Harry and is a favourite getaway for Prince Andrew and Sarah Ferguson.
But it is now set to change hands after the French investment fund Orion Capital Managers decided to move forward with its divestment from the development.
According to real estate sources quoted by Europa Sur, the company has received several offers, but the one to have advanced the most is from Saudi Arabia.
The identity of the potential Saudi buyer has not yet been revealed.
The same sources said Orion would seal the deal if it receives a ‘reasonable’ offer as they want to cash in on their investment and see it as a good time to do so.
Situated in San Roque, on the border between the Costa del Sol and Costa de la Luz, the resort comes complete with a five-star hotel, high-end homes, two golf courses, an equestrian centre, marina and more.
If the negotiations continue, Sotogrande could have a new owner within months, reports Europa Sur.
Since being founded in 1962, the resort has become a hotspot for the wealthy seeking discretion, elite sport like polo and exclusive lifestyle.
It is spread over 20sqkm and has more than 7,000 homes, but places limits on how many people can live there, ensuring privacy and exclusivity for residents.
Orion took over Sotogrande after buying it for around €225m alongside its partner Cerberus in 2014.
In 2017 it bought the remaining stake to manage 100% of the company, before carrying out a series of upgrades, including the renovation of the SO/Sotograne Spa & golf Resort hotel, plus new luxury developments like La Reserva, where villas sell for over €10million.
Despite recent improvements, the Orion fund has been looking for a buyer for some time.
