Engel & Völkers Licence Partner Marbella > Blog > Marbella's real estate market revives on the Golden Mile with the start of construction on the Benalús project

Marbella's real estate market revives on the Golden Mile with the start of construction on the Benalús project

The exclusive development, which has an investment of 50 million euros and a building permit, has already started the construction of the first phase.

Marbella, 4 May 2021_ It has been 20 years since a residential complex was built in the heart of the Golden Mile, 100m from the sea, and now thanks to Benalús this area is once again in the spotlight. The project, marketed exclusively by Engel & Völkers Marbella, anticipates an investment of 50 million euros and proves once again that real estate development in Marbella is not suffering the consequences of the current crisis.

Benalús was launched in 1998 and had to overcome all kinds of urban development issues unrelated to the project, including the repeal of the General Urban Development Plan of Marbella, the need to approve the same Partial Plan twice, and all this without changing one little aspect of the urban development characteristics already established for Benalús in the 1986 PGOU. This long-awaited residential complex consists of 28 homes, ranging in price from 940,000 to 3 million euros, will involve a total investment of 50 million euros and will create some 60 jobs. With planning permission already granted for the first phase, and work having started just a few days ago, the delivery date is expected to be during the last quarter of 2022. The second phase is already under study for its future implementation.

Despite the increase in the number of national clients in the Costa del Sol's real estate sector due in large part to the pandemic, it could be said that foreign interest in investing in Marbella's luxury market is slowly returning. “Given the exceptional location of Benalús, we have received enquiries from different countries. 60% of our potential clients are international,' says Kahana. A buyer profile that is looking for modern buildings with large outdoor areas and the best sunny conditions in a location with easy access to all the facilities of Marbella centre and Puerto Banús, while maintaining an exclusive setting just a few metres from the beach.

Over the last few years Benalús has been able to detect these new needs of the Premium client, who requires all the comforts of a resort in their private home, and has been able to adapt to them. As a result, Benalús offers a spa service, private and communal swimming pools, communal solarium, gym and chill-out area. All of this is surrounded by 7,000 square metres of protected green areas of Cañada Real.



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