For those overseas property investors looking for an abstract property investment, Picasso Towers could be the one for them, but they may need deep pockets.
Named after the famous Spanish painter, known for his abstract creations, the exclusive £200 million development created by leader property developer Metrovacesa and luxury specialist Sierra Blanca Estates involves three towers featuring 213 luxurious apartments.
The project is a reflection of the renaissance that Malaga has undergone in the last two decades. Recently, Malaga’s economy grew 4.47 per cent, positioning the city as one of Europe’s top residential and holiday destinations.
The popularity of the city and Costa del Sol region has soared due to national and international investment, and it is no surprise that British overseas property investors are the main international buyers of second residential properties in south Spain followed by North Americans, Germans, Belgians, Dutch and Scandinavians.
Sport celebrities such as Spanish Real Madrid midfielder Isco, and tech entrepreneurs have already acquired some of the exclusive apartments in Picasso Towers.
Far from abstract, the Real Madrid star and his family will enjoy a unique and exclusive range of services such as private cinema and keep his physique in check with the stunning spa-gym covering over 650sq. ft. He will also be able to take advantage of a nursery for when his family gets bigger, as well as co-working areas, playroom, a co-working area, restaurants and shops, the latest technology, security and health safety, and all with a unique view of the Mediterranean Sea from Picasso Towers’ 3 infinity pools.
More than a quarter of the apartments are already sold to buyers from Europe, Middle East and the United States. Referring to the new purchasers, Daniel Raya, Land Development Manager at Spanish leading real estate Metrovacesa said ‘They choose Picasso Towers for its high quality, prime location, astonishing sea views, the pleasant Mediterranean climate and the fact that Malaga is the fastest growing city in Spain at the moment.’
The first phase of Picasso Towers apartments will be ready by the end of 2021, and the whole resort is expected to be completed by 2023.
British overseas property investors looking for an abstract view of the Malaga coastline may want to check out the new development.