Who Has Bought La Zagaleta?
Modon Holding P.S.C. (“Modon Holding”), a publicly listed company based in Abu Dhabi, has successfully finalized the complete acquisition of 100% of La Zagaleta S.L., the company chaired by Ignacio Flores that own the prestigious luxury development in Benahavis. The sum of the sale has not been disclosed.
Located merely 20 minutes from Marbella, this estate is regarded as one of the most prestigious residential communities in Europe. It features two golf courses, two exclusive clubhouses for members, an equestrian center, a private heliport, and various sports facilities.
This transaction is a key component of the Emirati company’s strategy for international expansion and investment (marking a significant milestone as its first investment in the European high-end real estate market), which includes plans to develop the next expansion phase of La Zagaleta, with the construction of a hotel.
Modon is a firm focused on the development of urban projects, hospitality experiences, and sports facilities on a global scale. With this acquisition, the company is making its entry into the European luxury real estate sector, aiming to uphold the legacy of La Zagaleta. This prestigious estate spans nearly 900 hectares and features two golf courses, two exclusive clubhouses equipped with dining options, an equestrian center, a private helipad, and various sports amenities.
The esteemed estate accommodates over 400 upscale villas and plots of land, providing the Emirati group with a significant opportunity to construct luxury residences on the Costa del Sol across its 2.7 million square meters. Furthermore, it includes land appropriate for hotel development and the overall management of the hotel offerings, alongside more than 300 existing homes.
Through this acquisition, Modon will enhance the ongoing development of the urbanization, encompassing the Majarambuz project proposed by La Zagaleta, referred to as Valderrama II in the Castellar Development Plan. This project is located adjacent to Sotogrande and features a land reserve of 2.2 million square meters, which includes designated protected green areas, and is currently undergoing the urbanization process.
The chairman of the Emirati group, Jassem Mohammed Bu Ataba Al Zaabi, stated that the purchase of La Zagaleta marks a crucial achievement in Modon Holding’s strategy for international growth and aligns with our vision of creating extensive opportunities for luxury housing.
The Addition of La Zagaleta to the new owners portfolio
The inclusion of La Zagaleta in the group’s portfolio signifies a standard for future growth and is in complete harmony with Modon Holding’s goal of consistently surpassing expectations, while also introducing new opportunities and capabilities to our global real estate strategy.
The group CEO of Modon Holding, Bill O’Regan, emphasized that La Zagaleta is distinguished by its outstanding design, extensive luxury and leisure offerings, and meticulous stewardship of the natural environment, ensuring that luxury, privacy, and security are unequivocally assured.
The representative of Modon Holding emphasized that the opportunity to uphold the legacy of La Zagaleta, enhance it through the development of Majarambuz, and the prospect of international brand expansion will be pivotal to the company’s strategy regarding this acquisition. This operation is viewed as a crucial component of the group’s strategic growth within one of Europe’s most appealing luxury real estate markets.
The representative of Modon Holding emphasized that the opportunity to uphold the legacy of La Zagaleta, enhance it through the development of Majarambuz, and the prospect of international brand expansion will be pivotal to the company’s strategy regarding this acquisition. This operation is viewed as a crucial component of the group’s strategic growth within one of Europe’s most appealing luxury real estate markets.
The businessman stated that the investment from Modon Holding introduces a new aspect that will enable La Zagaleta to advance to the next stage of its vision, fully realizing the potential of its brand and experience. He expressed great enthusiasm for the journey that lies ahead.
Modon Holding is a public limited company whose majority shareholders are ADQ – a state-owned company of Abu Dhabi – and the IHC Group, a company with numerous business areas, owned by the royal family of the emirate and chaired by Sheikh Tahnoon bin Zayed Al Nahyan. This acquisition underscores the Emirati company’s dedication to strengthening its foothold in Europe by undertaking projects that emphasize exclusivity, sustainability, and a long-term perspective, thereby heralding a new era in the legacy of La Zagaleta and the Costa del Sol.