Marbella gives the ‘green light’ to the Quartiers hotel project in the Swedish Forest Center — idealista/news

2023-08-28 10:36:20

Green light for one of the projects of Neighborhoods Properties AB in marbella. The company has submitted a proposal to amend the current detailed plan for the Swedish Forestry Centre. The proposal, which was developed in consultation with the Marbella Town Hall and subsequently incorporated into the General Plan for the area, has now been unanimously approved by this council. The decision significantly increases the likelihood that Quartiers will be granted 20,000m2 of new build rights on its Marbella properties, as previously reported.

The company intends to focus more on the hotel sector, with new rooms and restaurants in the current Boho Club and a brand new hotel on neighboring land. The next step in the process is to obtain approval from the regional Department of the Environment. This decision does not change the company’s previous plan to obtain construction rights within 1-2 years.

The value of the property is expected to increase by approximately SEK 860 million (€72.5 million) once construction rights have been granted, which would increase the company’s net asset value of around 15 Swedish crowns (1.26 euros) per common share. The decision is also positive for the company’s plan to pay cumulative dividends from the company’s preferred shares, which will take place when the new construction rights take effect.

Quartiers Properties is a Swedish property development company focused on excellent design and quality, operating on the Spanish Costa del Sol. The company was founded in 2014, and since then has built a portfolio of investment properties and real estate projects. The company develops, sells and rents properties. Quartiers Properties owns and manages Boho Clubwhich is a boutique resort in the Golden Mile district of Marbella with a 40-room hotel and a restaurant open every day for breakfast, lunch and dinner.

Quartiers Marbella Apartments is an apartment complex located in Benahavís, a neighboring municipality of Marbella, where Quartiers manages rental operations. The apartments are ideal for short and long term accommodation and are popular with families as well as groups visiting Marbella for leisure, fitness holidays or to play golf.