Alex Trelinski
EX-TENNIS star Rafa Nadal and businessman, Abel Matutes, have been given the green light to build 50 luxury homes on Estepona’s beachfront.
The two men formed a joint venture company last year called Palya Invest which also wants to construct around 40 properties in Nagueles de Marbella.
Their potential total Costa del Sol investment comes to over €200 million.
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Nadal and Matutes have been friends and business partners for years and it is not the first time they have invested together.
The new Estepona development will be in the Los Llanos area, adjoining the Alcazaba Beach urbanisation.
Los Llanos is regarded as one the last remaining undeveloped seafront areas of the Costa del Sol.
A Mediterranean-style village will be constructed consisting of 50 homes.
They will consist of three floors and an attic, but on the actually seafront the house size will be much smaller, with just a ground floor and an attic.
The development area covers around 36,000 square metres.
The properties will be marketed under the Palya Invest with the name a play on the word ‘beach’.
It takes into account that Matutes and Nadal are from the Balearic Islands in addition to the names of their two companies: the Ibizan hotel chain Palladium (Matutes) and Aspemir (Nadal).
