Plans by the Saudi Royal Family to invest in a luxury residential development of 1477 luxury homes were put on hold due to the Junta de Andalucía’s new law protecting a 500meter strip along the coastline.
Estepona town hall previously predicted that around 16,000 planned properties would not be able to be built under the Junta de Andalucía’s new law aimed at protecting the coastline. This included plans by the Saudi Royal Family to develop a luxury residential development in the Paraiso area of Estepona which include a golf course, 1477 luxury homes and a 6 star hotel.
It now appears that only 1,052 planned properties will not be able to be built and the Saudi luxury development is one of the projects that will be allowed to go ahead.
This will be a great boost for Estepona and it is estimated that the town hall will earn around 5 million from the project. Prince Salman Bin Abdulaziz, the Heir to the Saudi throne and also Saudi Arabia’s Deputy prime minister, plans to invest millions and millions of Euros in this project which will also include a golf course and a 6 star hotel.
Planning permission for the project was applied for back in 2008 and although given the go ahead in 2012 construction was stopped under the Junta de Andalucía’s regional development plan POTA.
The prince will now be able to begin construction once the Estepona Town Hall´s urban development plan (PGOU) is brought in line with the Junta de Andalucia’s plan (POTA).
A firm start date however, is now dependent on how quickly Estepona town hall can process the paperwork!!