Luxury property sector in Marbella attracts 100 million euros

Marbella continues to attract international property investment. The investment fund Resolution Property has returned to the town after ten years’ absence to invest in luxury properties in the resort.

MarbellaThe fund also plans to source investment opportunities in sectors such as services, retail, hotel and holiday rentals. The fund’s assets will be managed by Rhone Property, an investment fund management company with a track record of experience in Marbella.

Two companies make up the capital behind the fund: the British Resolution Property and the Swiss Be Capital. Each brings 50 per cent of the total capital to the fund and will carry out the investment via Investis Properties.

This company already owns an extensive portfolio of assets in Marbella and these have a value in excess of 50 million euros. The volume of investment will allow the company to become a REIT (real estate investment trust - SOCIMIin Spanish) and therefore place Marbella on the alternative stock market in Spain.

Rhone Property will have the exclusive responsibility for carrying out asset management services for Investis Property and be in charge of both current and future assets. The aim is to source potential niche assets in the town with the idea of refurbishing or rebuilding them to increase their value and to let or sell them.

According to the managing director of Rhone Property, Miguel Cerván, “Marbella is an oasis in the Mediterranean for investors who are looking for security, stability and return on their investments.” He also believes that the annulment of the 2010 town planning regulations (PGOU) represents an excellent opportunity for the town to draw up a general development plan that meets its requirements.

The luxury sector is hugely important in Marbella. In terms of sales of high-end products and services, Marbella is second only to Barcelona in Spain. In addition, 86 per cent of high-networth individuals who decide to buy a property in Spain choose Marbella as their preferred destination.

 

Via: surinenglish.com

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