Modon Holding, an Abu Dhabi-based holding company, has announced that it has completed the acquisition of 100% of La Zagaleta, the owner of the exclusive La Zagaleta residential estate in Costa del Sol, Spain, thus marking a significant milestone for its entry into Europe’s luxury real estate market.

 

La Zagaleta, located in the hills of Benahavís and 20 minutes from the historic city of Marbella, is an ultra-luxury gated residential development in the heart of Costa del Sol, providing an exclusive, safe and private lifestyle to its residents, with easy access to the breathtaking coastline, vibrant beach towns, and warm Mediterranean waters. 

 

The gated private estate comprises nearly 900 hectares of land in Benahavís, with more than 400 luxury villas and plots, two private and prestigious golf courses, two golf clubhouses offering fine dining, an equestrian centre, a private helipad, and sports amenities that offer a safe, private and exclusive lifestyle within close proximity to Marbella city. 

 

The estate also provides its residents access to extensive wildlife, green areas for hiking and unrivalled views of the Mediterranean, Gibraltar, the Andalusian mountains with the north coast of Morocco being clearly visible. 

 

La Zagaleta owns approximately 2.7 million square metres of land area inside La Zagaleta resort, and this will provide Modon Holding with a robust development pipeline of luxury residential units in the heart of Costa del Sol, a hotel plot that will embed a hospitality offering to the estate, the overall management of the estate and the 300+ homes already built. 

 

"The acquisition of La Zagaleta is an important milestone in our strategy to pursue international growth, supporting our vision to develop new possibilities for scaled luxury living," said Jassem Mohammed Bu Ataba Al Zaabi, the Chairman of Modon Holding. 

 

La Zagaleta ranks among the world’s most prestigious and exclusive private communities and is a remarkable addition to the Modon Holding portfolio. 

 

"This acquisition sets a benchmark for future expansion that is fully aligned with Modon Holding’s ambition to consistently surpass expectations, and brings new potential and capability to our international real estate strategy," he stated.

 

The acquisition by Modon Holding will accelerate the remaining development of the estate while preserving its legacy, exclusivity and the natural habitat. 

 

In addition, the transaction includes La Zagaleta’s planned Majarambuz development, historically known as Valderrama II within the Castellar Development Plan adjacent to Sotogrande, a 2.2 million sq m land bank (including protected green areas) that is in the process of being urbanised, he added. 

 

Bill O’Regan, Group CEO of Modon Holding, said: "With an established reputation for outstanding design, diverse leisure and luxury amenities, and careful stewardship of the natural environment, La Zagaleta offers a location where luxury, privacy and security are absolutely assured."

 

"The potential to carry on the La Zagaleta’s legacy, extend it across the Majarambuz development, historically known as Valderrama II masterplan, and the potential to expand the Zagaleta brand internationally, will be a key part of the Modon Holding strategy for this acquisition. We are proud to welcome La Zagaleta to our portfolio, as part of our strategic expansion into one of Europe’s most desirable luxury real estate markets," he added.

 

Ignacio Perez, Executive Chairman of La Zagaleta, said: "The success of La Zagaleta is built on an absolute commitment to quality in every aspect of the community, which we believe offers our residents an unrivalled luxury and safe living experience."

 

"The added scale that comes with Modon Holding’s investment will allow La Zagaleta to realise the next phase of its vision, explore the full potential of La Zagaleta’s brand and expertise, and we look forward to the journey ahead with great excitement," he added.-TradeArabia News Service