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Friday, August 19th, 2016

Persian Gulf investors turn to Marbella properties

According to information provided by Knight Frank, partner of Diana Morales Properties, the last few months have seen a 164% increase in information requests from Saudi Arabia and the United Arab Emirates, indicating the growing influence and prominence of Gulf countries in Marbella’s economy.

Properties in the Costa del Sol

The exclusive and reputable Gulf News has published an article highlighting some of the qualities of the city of Marbella, and also advising prospective buyers as to why this region of the Mediterranean is one of the most desirable for Arab clients interested in buying luxury properties in Europe.

Victoria Garret, partner at Knight Frank, explains how Marbella has become the preferred destination for Arab buyers from Gulf countries, in the same way that it did for Saudi Arabia’s royal family. During the 1980s, King Fahd bought a stately palace at the heart of Marbella’s Golden Mile, complete with a mosque, numerous sporting facilities and stunning gardens. The family had previously been staying in the suites of the famous Marbella Club Hotel.

Gulf countries and Marbella

This was the key reason for why many Arabs have since decided to move to luxury villas in Marbella’s most prestigious area instead of staying in the Marbella Club Hotel suites.

As Garret stresses in her article, Marbella has a broad range of apartments which are ideal for those who prefer this specific type of property as opposed to its typical-style villas. She also adds that security and amenities are of particular interest, especially developments which have all-day access to spas, indoor swimming pools, fitness areas, concierge services and security.

As for the design, tastes vary depending on the buyers’ ages. On the one hand those over 55 – normally officials, diplomats or members of the royal family – opt for a traditional, more conservative style, Mediterranean with Arabian influences integrating inner courtyards, shaded areas and small windows; on the other hand, new entrepreneurs and younger generations prefer a more modern approach.

Garret insists that some of the major factors which have made this partnership possible include the Arabian monuments, the cuisine and architecture, the pleasant climate which Marbella offers throughout the year, the luxury, the infrastructure and the warm welcome towards Arabs.

Marbella’s property market is in the best possible position to provide future owners with everything that they are looking for and that best suits their needs, since architects and developers from this part of the Mediterranean have been able to adapt to the latest trends. As such, DM Properties offers its customers an array of luxury villas and apartments in the Golden Mile, Sierra Blanca, Puerto Banús and La Zagaleta thanks to their extensive experience in the luxury real estate sector. Get in touch with us to find out more.

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