Archive for February, 2016

Marbella development in the 21st century

Tuesday, February 2nd, 2016

Words: Michel Cruz
Photography: Kevin Horn

Marbella development and project management

After a hiatus of several years, construction activity has recommenced in Marbella. We spoke to some of the leading developers in the area about a new era of development.

The construction sector was one of the biggest victims of the global financial crisis and Spanish property crash that hit Marbella at the end of 2008. In its wake, no new projects were launched and building gradually ground to a halt, while recently finished developments found it hard to find buyers. Many promoters had to abandon ship, leaving half completed construction sites behind as the banks inherited an unwanted portfolio of real estate.

By 2010 the once flourishing sector was in dire straits, its main activity now the construction of luxurious individual villas in spots such as La Zagaleta and the renovation of old properties by specialist small-scale developers. In the midst of this, however, a few companies had the foresight and confidence in the local market to approach the banks and begin to finish projects, upgrade and market them, and add post-sale management services not seen here before. (more…)