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Saudi Royal Household plans a new development in Estepona
By m.p. - Mar 26, 2008 - 10:04 PM
ALSO SEE : • Marina de Cope resort gets initial council backing in Lorca and Águilas - Mar 19, 2008 - 6:09 PM

Abdullah bin Abdul Aziz Al Saud, the King of Saudi Arabia, as he is handed the keys to the City of Madrid by the Mayor of Madrid, Alberto Ruiz-Gallardón, last June. The Spanish King, Don Juan Carlos is on the left. Archive photo – EFE.
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The project has been presented to the Town Hall and talks are underway
The Saudi royal family is said to be investing in a new urbanisation in Estepona in a project which has been presented to the local Town Hall by lawyers representing a company which is linked to Saudi Arabia’s Royal Household.

La Opinión de Málaga reports that the local planning councillor, Rafael Duarte, confirmed the news on Tuesday, and said the development is planned on land classified as suitable for development which the Royal Family owns in the area. The councillor described the proposal as interesting, particularly given the current situation in real estate, and said conversations are currently taking place before any possible planning agreement is signed.

The paper gave the details as a 600,000 sq metre area of land in the area of El Paraíso near the N-340 coast road. It’s an area which is governed by construction density of 25 dwellings per hectare, and it’s understood that 30% of the properties would be officially protected housing.


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