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IMMOBEL NV

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Immobel to develop Four Seasons Marbella Resort following urban planning approval

11/09/2021 | 07:14am EDT

The ultra-luxury hotel and residential development will be the first project developed in Spain by the Belgian listed company. This illustrates Immobel's international expansion.

After the recent announcement by the Marbella Town Hall, the necessary urban planning procedures for the construction of the Four Seasons Marbella Resort have taken a decisive stride forward. The approval of the Partial Urban Plan of the "El Pinar" sector is a major milestone for Immobel Spain and will kick off the formal submission of the design projects to obtain building permits from the City.

The project will entail an investment of €740 million and will be developed jointly by the Immobel Group and Fort Partners, a privately held real estate and hospitality firm based in Miami.

The Marbella Resort is one of the most highly anticipated real estate projects in Spain. With an investment of over €740 Million, it will enjoy a privileged beachfront location just a few minutes from downtown Marbella. It will feature a grand luxury hotel managed by Four Seasons Hotels & Resorts, arguably the world's top hospitality operator, two beach clubs, a restaurant village, and a low-density residential development comprising villas, apartments, townhouses, and branded hotel residences.

Richard Meier, Pritzker Prize-winning architect with emblematic buildings such as the Museum of Contemporary Art Barcelona and the Getty Center in Los Angeles to his credit, has been commissioned to oversee the project's conceptual design and architecture. Interior designers Tara Bernard and Martin Brudnizki have been retained for the hotel and beach clubs.

The resort will be built to the highest specifications with ground-breaking innovations in sustainability and optimal use of energy and water. The grounds will feature spacious green areas designed by renowned landscape architect Patrice Marchel, plus ample facilities for a range of sporting activities.

Ground is expected to be broken in 2023, with the first residential units set to be delivered in 2025. It will be Immobel's first project in the Iberian peninsula through its subsidiary Immobel Spain and is part of the group's strategy to expand its international activities in a range of properties.

"Today Immobel reached a new milestone in Spain. This major project has been four years in the making. We are very proud that we can move forward today. This first and one-of-a-kind project in Marbella is in line with Immobel's strategy to extend its international activities. This project puts Immobel in pole position to further explore opportunties within the Spanish market,"says Marnix Galle, Executive Chair.

Disclaimer

IMMOBEL - Compagnie Immobilière de Belgique SA published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 12:13:29 UTC.


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Sales 2022 778 M 821 M 821 M
Net income 2022 59,0 M 62,2 M 62,2 M
Net Debt 2022 - - -
P/E ratio 2022 10,9x
Yield 2022 4,96%
Capitalization 645 M 681 M 681 M
Capi. / Sales 2022 0,83x
Capi. / Sales 2023 0,64x
Nbr of Employees 227
Free-Float 37,1%
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Marnix Galle Executive Chairman & Chief Executive Officer
Karel Didier Patrick Hugo Breda Group Chief Financial Officer
Rudi op ‘t Roodt Chief Technical Officer
Filip Depaz Chief Operational Officer
Joëlle Micha Compliance Officer & Head-Corporate Affairs