Spectacular top quality contemporary villa. South to west facing with panoramic views to the Meditarrenean and the coastline. Built to the highest standards.
The Costa del Sol offensive on American investors and tourists has been steadily gaining ground since the financial crisis slowly dissipated and the dividends are finally paying off.
Exploring the region and explaining its history and quirks to its primarily American readership, the New York Times, perhaps the world’s most iconic newspaper, has declared the Costa del Sol a place to watch closely.
Their analysis takes in the full spectrum of opportunities from Nerja to Algeciras and the authors recognise Marbella as the ‘heart and soul’ of the coast. They point to an increasing mix of foreign property buyers now hailing from Belgium, Russia, and, more than ever, America and China.
Each year the number of US holidaymakers visiting the Costa del Sol has steadily grown, with more than a million crossing the Atlantic to Andalucia last year alone.
Not content with the bumper 2016 summer, the Costa del Sol tourism board has set its sights on America as a future market that could transform the region from a seasonally successful destination to somewhere packed full of visitors throughout the year.
Their coordinated mission begins in New York and will spread right across the prairies to the west coast as the board hopes to secure lucrative funding contracts with golf clubs, airlines, travel agencies and event managers.
Nor do they plan on stopping with America. While Bendodo plies his trade in the US, director general of the tourism board Arturo Bernal has flown to the Far East for a whistle-stop tour of Japan, Malaysia, Singapore and Indonesia.
None of those countries have much obvious connection with the Costa del Sol but the eagle-eyed operators at the tourist board see lucrative opportunities, not necessarily from tourists, but from the huge business conference industry that brings in billions each year.
Source: Euroweekly News
Amancio Ortega, Europe’s richest man and founder of global fashion group and Zara owner Inditex (ITX.MC), has bought one of Madrid’s most famous skyscrapers for 490 million euros ($551 million) through his property investment arm, a source said.
The purchase marks another step in the famously-reclusive billionaire’ s strategy to build a property empire through Pontegadea Inmobiliaria, one of the biggest property companies in Spain, and his holding company Pontegadea Inversiones. The source said late on Friday that Pontegadea Inmobiliaria had bought the tower from Abu Dhabi tycoon Khadem al-Qubaisi, whose fund had exercised a last-minute purchase option from Spanish lender Bankia (BKIA.MC), its previous owner.
Pontegadea Inmobiliaria declined to comment on the reported purchase of the tower – known as “Cepsa Tower” after the oil refiner Cepsa CPF.GQ that leases it – which along with three others dominates the skyline of Madrid’s northern district.
Ortega has bought properties in London’s Mayfair and Oxford Street, along with other properties in prime locations in New York, Madrid and Seoul. He rents out much of the space to Inditex stories like Zara, but also to rivals such as H&M (HMb.ST).
Ortega, who turned 80 this year, is the second richest man in the world with a fortune totaling $72.7 billion, according to Forbes magazine in July, behind Microsoft Corp (MSFT.O) co-founder Bill Gates. Pontegadea Inmobiliaria booked assets of 6.06 billion euros at the end of 2015, up 8.3 percent from the previous year.
So Amancio, any chance you will be looking for a villa in Marbella anytime soon? Give us a call! Im sure we will find something within that budget!
Written by Kian Bennani