The housing complexes are being developed by real estate developer Sierra Blanca Estates for a predicted 55 million investment.
In order to obtain financing to proceed with the development of these three projects – which, according to newspaper Expansión, are estimated at about 600 million euro –, the real estate developer contracted a loan for the above-mentioned amount with British fund Alantra.
One of the three projects is called Picasso Towers. It will be built in Malaga in partnership with Metrovacesa and, as the name indicates it will consist of three towers, with 21 floors and 75 luxury apartments each. These buildings will have a combined buildable area of 58.368 sqm and, according to the same newspaper, will have several common areas such as swimming pools, gym, gastropub, coworking spaces and private cinemas. The first families to occupy this complex should arrive in mid 2021.
Marbella will receive Sierra Blanca’s two other projects. One of them is the Epic Marbella, which should be concluded between 2020 and 2022 and will have the capacity to host 108 families. The number of dwellings which will be developed in the other project, called Lomas del Sur, was not disclosed by the same newspaper.