Marbella Residential Areas To Receive Significant Investment
There's good news for the residents of Marbella as a residential area in the city has received a 3.5-million-euro cash investment. The aim of this project is to improve the quality of life of residents and visitors, so if you live in Marbella, or if you're thinking of investing in property in Marbella, there's never been a better time to start your property search.
So what will this project entail? And how much will it cost? Here's everything you need to know.
What investment is Marbella receiving?
The El Ancón residential area of Marbella is due to be redeveloped thanks to a partnership between Marbella town hall and a private developer. This new public/private collaboration will see a significant 3.5 million euro investment in El Ancón, revitalising the beachfront residential area.
This financial investment has recently been announced, and José Eduardo Díaz, Marbella's councillor for urban planning, has stated that "this initiative will allow the implementation of various actions, which will contribute to improving the quality of life of residents and visitors and regenerate this space."
Díaz went on to say that "among the main interventions planned are the renovation of roads, the adaptation of public facilities and the optimisation of drainage in this area." The councillor said that this type of initiative is important as it "boosts the local economy" and shows "Marbella as a benchmark for urban planning and excellence... The confidence of the private sector in our town translates into actions that add value and generate a positive impact for citizens with the improvement of degraded areas."
What is included in the project?
Ground hasn't yet been broken on this project, but we do know that the scope for the project currently includes the development of new infrastructure in the area, especially at the beachfront, as well as the overall enhancement of the area. The result will be a rejuvenated and appealing area that will appeal to local residents and investors alike.
One of the biggest questions is what will happen to the watchtower that's included in the area. Torre Ancón is located in El Ancón, and it is the only watchtower in this part of Marbella that hasn't been renovated yet. Locals have been calling for renovations to take place for years.
This Asset of Cultural Interest (BIC), with views of the Mediterranean Sea, belongs to Spain's Ministry of Culture and Education. No action has yet been contemplated that would involve the watchtower, although there is hope that this will follow as a second phase of the project.
Why consider moving to Marbella?
Marbella is a popular place to buy property for locals and investors alike. It's a historic town rich in history and culture, and people are generally attracted by its beautiful beaches, mild climate, vibrant culture, and a relaxed yet luxurious lifestyle. As these less popular areas of Marbella are renovated, we can only expect to see the city grow in popularity even more.
Marbella is a world-famous holiday destination, attracting the rich and famous since the 1960s. It's a great place to choose a second home as a result. What makes Marbella so appealing is that you can find a range of properties here, from beautiful, modern apartments to sprawling luxury villas.
Are you thinking of taking the plunge and moving to Spain? Want to live in Spain full time, or let an apartment in the country? If you've always dreamt of relocating but don't know where to start, then our local property experts are perfectly placed to help you find the Spanish property of your dreams. Why not get in touch today?
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