MARBELLA has green-lit a staggering €22million project that will bring hundreds of new homes to the town.
Covering almost 47 hectares, the scheme will transform the existing Rio Real Golf area into an entirely new development with 428 homes – including 41 detached houses and 387 apartments.
The local council opened a 20-day public consultation period last week, a necessary step before the plans can finally see the light of day.
Almost 200,000 square metres will be set aside for green areas, while more than 13,500 square metres will be reserved for public facilities.
These are expected to include land for a school, sports facilities and social services.
Another 39,000 square metres will be used for public roads and associated infrastructure.
In total, around 250,000 square metres of land will be transferred to Marbella Town Hall for public use.
The site covers approximately 472,600 square metres, with around 68,500 square metres of buildable space.
A 1,246-square-metre commercial plot is also included in the plans.
Developers face a hefty €22.1million bill to urbanise the site, covering everything from new roads to waste management.
Neinor Peninsula, a Spanish property developer, is the sole owner of the sector following the reorganisation of the land and development rights.
Marbella Town Hall will also receive almost €12.5million in cash instead of taking its usual 10% share of the development rights.
Construction is not expected to start immediately, however, with landowners and other interested parties now having 20 days to submit objections to the plans.
Any objections will then have to be assessed before the project can receive final approval.
The scheme is the latest major project planned for the eastern side of Marbella, an area already earmarked for a string of high-profile developments.
Rio Real is also set to become home to the proposed Four Seasons resort, which includes a luxury hotel and 486 homes.
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