Costa News Spain Breaking News | English News in Spain.
Rafa Matutes (a businessman) and Rafa Nadal (a former tennis player) have been given approval to build up to 50 luxury homes along Estepona’s coastline.
Palya Invest, a joint venture formed by the two men last year to build 40 properties around Nagueles de Marbella.
Their potential total Costa del Sol investment comes to over €200 million.
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Nadal has been Matutes’ friend and business partner for many years. This is not the first investment they have made together.
The new Estepona project will be located in Los Llanos, adjacent to the Alcazaba beach urbanisation.
Los Llanos has been dubbed as the last undeveloped area of Costa del Sol.
The construction of a Mediterranean-style village with 50 homes will begin.
Three floors will be included, as well as an attic. But the size of the house on the seafront will be smaller, consisting only of a first floor and attic.
The development area is around 36,000 sq. m.
The properties will be marketed under the Palya Invest with the name a play on the word ‘beach’.
Matutes (Matutes), Nadal (Aspemir) are both Balearic Islanders. Their respective companies, the Ibizan Palladium hotel chain and Aspemir hotel chain, also reflect this.
