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Friday, February 19th, 2016

Marbella’s real estate market is in Chinese investors’ sights

Chinese investors, creators of the real estate market’s boost in Spain, have Costa del Sol in their sights, giving this region a lot of interest in favor of cities like the Spanish capital. A recent example has been Wang Jianlin’s decision, a Chinese multimillionaire and owner of the ‘Edificio España’ (Spain Building) in Madrid, to sell said building, which he acquired with the objective to restore it into a five star hotel, and to look for other investment opportunities, this time in the Marbella area.

Investment in Marbella’s real estate market

In 2014, Wanda Group, whose founder is a Chinese magnate, invested more than 260 million euros in the emblematic Edificio España. Wang Jianlin, named the richest man in China, had the intention of restoring the building and opening a new five star hotel, which would add to the 52 hotels that he already owns all over the world. However, following differences and obstacles that were put in the way by Madrid’s local government, the Chinese magnate decided to abandon said project, putting the building up for sale and searching for other alternative investments.

For the moment, it is known that the business group’s directors have held meetings with representatives from the tourist and real estate sectors of the Costa del Sol area, and it is, Marbella, with its international prestige as a luxury destination, that has large potential. Moreover, if Wanda Group opted for Marbella, the real estate and tourist sectors would experience a large boost, as this Chinese group is known for investing hundreds of millions of euros.

Marbella in Wanda’s sights

‘Diario Sur’ reported in January that, Wanda Group travelled to the town of Benahavís, Malaga, and met with the managers of the five star complex and hotel ,Villa Padierna, as well as initiating negotiations for the purchase of a city shopping center. Currently, there is no confirmation that the exclusive hotel is up for sale, but it is already clear that Wang Jianlin has an interest in Marbella as an investment opportunity.

As we previously mentioned, regardless of the type of investment that the Asian business group will make, what is certain is that the investment will be of a large sum of money. Recently, Wanda Group has invested 1.2 million euros in the purchase of a 75% share in the Valencian complex Marina d’Or Golf Resort. For those who do not know it, the complex has five star hotels, homes and a theme park.

Foreign investment in Marbella

Roshni Mohinani, president of the Platinum Estate group with headquarters in Hong Kong, has already invested 50 million euros in the purchase of a piece of land in Marbella. The plot, located beachfront in the residential area of Las Chapas, will house a luxury hotel and villas, a project which will involve a total investment of approximately 200 million euros.

If Wanda Group made eventually an investment of such magnitude in Marbella, there would be a large boost to its economy, as during the last years the influx of foreign investment funds has become one of the most important sources of investment.

This new wave of investments demonstrates the confidence in tourist and residential potential in Marbella and Costa de Sol. DM Properties, a real estate agency with a large professional trajectory in Marbella, has seen a rising interest in apartments and villas for sale in Marbella from national and international investors.

Do not hesitate to contact us if you are interested in investing in Marbella’s real estate market.

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