A RUSSIAN investment firm is set to present the first of four of its upcoming Marbella property projects on Thursday.
Velum Group will officially present its Los Palacetes de Banus, consisting of eight luxury villas in the Rio Verde area.
Sitting just 700 metres from the beach, it is part of a €200 million investment portfolio set to be completed over the next few years.
The Marbella-based firm has its origins in the exploitation of oil wells in the former Soviet Union.
Following the fall of the communist bloc, the partners began investing in finance in Europe, before eventually venturing into property in Spain in 2016.
The firm will formally announce Los Palacetes de Banus at an event at the site on Thursday.
The Palacetes de Banus, which already has a building licence, comprises eight different villas built in a contemporary style and designed by architect Oscar García De La Peña, from Estudio Arquim.
Each villa has more than 1,000 square meters and a further 500 square meters of terraces and porches with green areas.
The prices range from €5.5 million to €6 million.
The expected delivery date is 2021.
The firm’s other projects include the Golden Mile’s La Finca de Marbella, an urbanisation with 104 villas, also expected in 2021.
It is also developing Alcala Valley, which involves the construction of 220 apartments, specifically in La Cala de Mijas, with a planned date, too, of 2021.
The fourth project on the Costa del Sol is an exclusive residential hotel on the seafront in ??Saladillo de Estepona that will be operated by an international group.
- MUST READ: How to survive a rip current following deaths of two swimmers on Costa del Sol beach - 16 Jul, 2019 @ 11:43
- Man becomes second to die off Costa del Sol beach in just 15 days - 15 Jul, 2019 @ 16:35
- BRACE YOURSELVES: Hot winds to bring temperatures of up to 39C on Spain’s Costa del Sol TODAY - 15 Jul, 2019 @ 10:27
- WATCH: Stingray capable of killing humans spotted on shore metres from children on Spain’s Costa del Sol - 13 Jul, 2019 @ 09:13
- British expats arrested and fined in new crackdown on ‘pirate taxis’ at Malaga airport - 11 Jul, 2019 @ 14:31
- BREAKING: Body washes up on beach near Marbella’s exclusive Golden Mile - 11 Jul, 2019 @ 14:05
- HE’S THE DADDY: Court rules Javier Santos IS the love child of Spanish superstar Julio Iglesias - 10 Jul, 2019 @ 18:01
- ‘WRONG MESSAGE’: Young man who accidentally killed drug addict while stopping him from robbing helpless cleaner on Spain’s Costa del Sol given two-year prison sentence and HUGE fine - 9 Jul, 2019 @ 12:37
- British giant Virgin Trains eyes up moving into Spain market after UK becomes ‘uninvestable’ - 9 Jul, 2019 @ 11:49
- Expert says southern Spain and Balearics at ‘great risk’ of tsunamis but authorities ‘are not prepared’ - 9 Jul, 2019 @ 11:19