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Lorenz Nenning was a child when he first stepped foot in Marbella in 1980. He had a profound experience. The golden light that spilled across the Mediterranean and the dramatic embrace of Sierra Blanca, as well as the effortless elegance where mountains meet the sea, sparked a passion for life in Marbella. This same passion today is brighter than ever.
As the driving force behind Citadelle Consulting & Co., Nenning has transformed his childhood love for Marbella into a sophisticated cross-border enterprise that combines Swiss precision with Andalusian soul. Marbella represents more to him than a mere market. It’s a way of living, a daily source of inspiration and a place he still refers to with quiet intensity as the “most beautiful corner of Europe.”
Marbella, and the Costa del Sol are familiar places to you. You first visited them in 1980 as a young child with your parents. What do you believe was the first thing that sparked this passion for this area, and what has led to it becoming a business between Switzerland & Spain?
The simplicity of life, the light, and the landscape
“My first memories are of Marbella from 1980, when I was brought here by my parents as a small child. The light, the landscape, the effortless elegance of life between the mountains and the sea — it made an impression that never really left. Growing up, precision and structure were part of my culture. I carried the contrast between the Swiss discipline and the Andalucian beauty and warmth with me.
What began as a personal passion became a professional commitment. Switzerland and Costa del Sol may not be as different as it seems. Both appeal to international families who are discerning and value privacy, security, and quality of living. It was natural for me to create a cross-border business between Switzerland, Spain, and the United States. I brought my Swiss experience, financial rigor, banking expertise and investment philosophy into one of Europe’s most dynamic real estate markets. This combination is rare for high-net worth individuals.”
The landscape, especially the Marbella surroundings, seems to be an integral part of your designs. Was this the original attraction to your relationship with Southern Spain? Would you say that this has given you an intuitive sense for matching clients to properties?
Credit: CC&Co
Andalucia coast: a dramatic physical landscape
“Absolutely. The lifestyle was not the first thing that captivated my attention about this area. It was the physical drama. The Sierra Blanca, the pine forest that descends to the sea, and the microclimate make this part of Andalucia unique in Europe. These are not background; they are architecture. In my opinion, any project that does not consider the relationship between natural landscape and built space is already failing their client.
It is this sensibility that translates into an intuitive ability to match people and places. Over the years I’ve come to realize that even though their budgets may be identical, a client attracted to La Zagaleta will not be the client who prefers the hills of Estepona. The landscape speaks of something very personal, a vision for how the client wants to live and what they hope to see in the morning. It is my job to grasp that vision before the client has fully expressed it.
As opposed to traditional real estate agents you describe your role “creator and developper of bespoke properties”. What are the steps you take to help clients who have high expectations design and build truly unique properties that suit their lifestyles?
Synergy between investment and home
“I learned this distinction early in my career. It is very important to me. When I started in private banking at Wegelin & Co. roughly 25 years ago, the minimum to open an account was five million Swiss francs, so every client was, by definition, a high-net-worth individual. I was struck by a paradox. These were extremely intelligent and financially sophisticated individuals, but almost none had applied the same rigour in how they lived. The portfolios were optimised to the very last basis point but their homes were essentially compromises.
When a client experiences their first property, which has been created to suit their lifestyle, routines, family, and the way they start the morning or end the evening, there is always a similar reaction. The client is shocked at how long they have been settling for less. It is that moment of happiness and gratitude I cherish more than any investment return. And I’ve delivered both.
Each home is an expression of its environment and owner
This is our philosophy. A traditional agent presents existing properties. I begin by getting to know the client. Who they are, their family, their daily routines, their privacy, and how they entertain themselves. Once I have a good understanding of their world, I can start thinking about the property. In practice, that means taking a customer through the whole journey, from selecting the right plot through to architectural planning and construction, and finally interior design and realisation. “Our La Paloma 10 Project is an excellent example. It comprises ten villas, each of which is unique and reflects the owner’s personality, as well as its surroundings.
Credit: CC & Co
Your private banking background clearly influences your investment philosophy. What makes an investment in real estate on the Costa del Sol profitable and safe for high-net worth investors?
“My experience in private banking has taught me that the best investment is a combination of genuine scarcity and structural demand. The Costa del Sol offers both.” The climate, infrastructure, international community or proximity to major European Capitals cannot be replicated. The sophistication of buyers has increased: the HNWI buyer today is not just buying a beautiful home, but is structuring an asset that spans multiple jurisdictions with real tax and succession implications.
“For a family with high net worth, real estate is just one part of the equation.”
My background is what makes me unique in the services I offer. I help investors see the big picture. This includes tax efficiency and holding structures. Currency considerations are also important for investors who do not have euros. Real estate is just one part of a family’s net worth equation. The best investment is one that is built on a solid legal, tax and financial foundation.
You have successfully completed everything from luxury projects to soft refurbishments. Would you be willing to share an example from a recent job that best illustrates the type of service you provide and client for which it was built?
“Our portfolio speaks for itself: we have projects underway in La Paloma Manilva and Almenara Golf Sotogrande as well as La Zagaleta Benahavis in Madrid. Others are purely investment structures, while others are unique architectural statements. But even these deliver exceptional results because our standards don’t change.
La Paloma illustrates the opportunities that are available on the Costa del Sol, if you look in the right places. Manilva, a well-connected, consolidated location, has seen prices rise strongly. We believe that the growth trajectory in the next five year will be better than more saturated prime markets. In La Paloma we are currently building villas from €1.4 million upwards (La Paloma 10), while our other projects in the area exceed €5 million but remain significantly below €10 million. This shows that, even with a more accessible budget, you can still acquire a truly unique and prime villa — provided you search well and find the right partner. To deliver a “wow”-worthy property at this level of price requires both real market knowledge and skill.
The vertically integrated syndicated model
The investment side is operated by what I refer to as a vertically integrated, syndicated model. We identify off-market investment opportunities below market value and then utilize our in-house capabilities: construction specialists, design and technical architects as well as international tax experts and marketing professionals. Investor clients own assets directly and not through a fund or financial product that has layers of fees. Our team maximizes the value of their real estate, located in exceptional areas, and our investor clients own them directly. Our commitment to these projects is reflected in our own skin in the project. This speaks more than any brochure about how we feel.
Brazil is worth a special mention because I am genuinely excited by it. The macroeconomics and geopolitics are compelling: a currency giving European and dollar investors a structural advantage and coastal markets that have a faster growth rate than the supply. There, our projects are only on the frontline of the beach. This means something very particular in Brazil. It is true that there is only a limited number of prime oceanfront properties in Brazil’s most desirable locations. However, almost none are being developed up to European luxury standards. Marbella was very different in the 1970s. It was an area with great potential, but it was not being realized. The land was easily accessible and those that moved quickly made excellent long-term investments. Brazil’s most beautiful beachfront locations evoke that same feeling. “We’re at the perfect place, the right time and with the best product.”
What advice would you offer to families and international investors considering the Costa del Sol as their future home, forever residence, or investment destination, in today’s rapidly changing market, given your expertise in lump sum tax solutions, family offices, and premium real-estate?
This market has a window of opportunity.
“The window for opportunity on this market is real, but not indefinite.” The availability of prime land in highly sought-after locations, such as La Zagaleta or Sotogrande and the Golden Mile is becoming more limited, while the level of international demand does not seem to be waning. Families who are considering buying a home in this area as their forever home should not wait for the perfect time. The right property at the right location will always be rare and the coast continues to attract international buyers that maintain values throughout every cycle.
Investors will find that 2026 is a great entry point with high yields and capital appreciation, especially in the luxury segment. The fiscal environment, if properly navigated, can be highly favorable. My advice in both cases is the same: work with people who understand both worlds — the market on the ground, and the financial and tax architecture that protects and multiplies your capital. This intersection is where we work. We are not agents. We are investors and project managers.
Mr. Nenning. Your life sounds very hectic, living in Spain, Switzerland, Brazil and other countries. Do you still personally attend to clients?
“What I am motivated by is not the transaction itself but the outcome.”
“Always! It is the only way I could see it. It is not the deal that drives me, but rather the end result: a family living in a beautiful home designed around their lives or an investor receiving a surprise return. It never gets old.
In practice, we now have a team of specialists to handle the showings. Everything that counts, however, is something I’m directly involved with: land acquisitions, project teams, and investor relationships. We deliberately keep our investor client base small. I do not treat these clients as if they were at arms’ length. Instead, I consider them partners and treat them accordingly.
In concrete terms: for families looking to create or acquire their dream home, we work from a minimum budget of €3 million. For investors participating in our syndicated projects, entry starts at €250,000, giving access to the same off-market opportunities, the same team, and the same premium assets that would typically require far larger tickets elsewhere. The scale is different, but the commitment and care are identical because, ultimately, we build what carries our brand.”
Lorenz Nenning softens his voice as the interview concludes, expressing unmistakable affection for Marbella. He has been influenced by the landscape of Marbella for more than 40 years. He is still as passionate about his work as he was in 1980, whether he’s sourcing a plot hidden in the hills of Benahavis or designing a villa to frame the sunset over the ocean, or just walking along the golden coast at dawn. Lorenz Nenning discovered his true home in Marbella. Through his work, he helps others find theirs.
