It was last July when the V Apex Real Estate fund closed the acquisition of a plot of land in Estepona, located between the Buenas noches and Bahía Dorada areas.
The objective of this acquisition is the construction of a new four-star hotel with panoramic sea views and direct access to the beach.
Thus, Asset Management Spain Gestmadrid, a member of the fund owner, will be in charge of preparing the tenant's tender and marketing the property in order to find a turnkey buyer.
The establishment, which will be added to the thirty hotels that already exist in this locality, will have 126 rooms in one of the most outstanding enclaves of the Costa del Sol. In this way, Estepona's offer will increase to more than 7200 beds.
Apex Desarrollos will be in charge of the construction, with an approximate cost of 20 million euros.
"The urbanisation is already underway. It will be from the end of the year or the beginning of next year when Apex Desarrollos will start to build the swimming pool, terrace with views of the Mediterranean that bathes this coast, spaces for gastronomy and incredible communal areas" explains Carlos Romero, CEO of Asset Management Spain Gestmadrid.