2023/12/15
Real estate development company Realco has acquired two plots of land on Spain's Costa del Sol, one of the most expensive areas of Marbella, where it will develop two luxury villa projects.
According to Realco's CEO Julius Dovidonis, the plots in Spain's world-famous resort area between Marbella, Benahavis and Estepona, known as the "golden triangle", are the company's first investment in real estate projects abroad.
"We have chosen to invest in the most luxurious area of private homes in Marbella, known as the 'Golden Mile', because the area and its surroundings are world-renowned not only for its excellent climate, but also for its exceptionally beautiful Mediterranean coastline, its excellent leisure facilities, and golf courses. The luxury property market in this part of Spain has been very active recently, with more and more buyers from all over the world purchasing holiday or temporary homes here. We believe that our planned villa projects will meet the needs of even the most whimsical and demanding buyers and will blend in perfectly with Marbella's unique environment," comments J. Dovidonis, Realco's CEO.
The Palms Marbella is a unique project that will feature three villas-residences of exceptional size and design. Just a few minutes away is the famous 5-star Marbella Club hotel and the Puente Romano resort with its yacht and boat marinas, gourmet restaurants, renowned beach clubs, exclusive shops, tennis courts and golf courses.
The ultra-luxury villas will be built on a 35-acre plot. Each villa will have 5 to 6 bedrooms and 6 to 7 bathrooms on 700 square metres. A highlight of the residence will be the very spacious living room, where panoramic windows will harmoniously connect the outside and the inside of the villa, allowing to enjoy the natural light and the view of the pool and gardens.
Each villa will have a terrace with a summer kitchen, a dining area and a space to spend time or entertain by the large pool. Another terrace with mountain and sea views is planned on the roof of the villas, which will also have a swimming pool and bar area.
The spacious underground floor of each villa has space for 3 cars and a bicycle or motorbike. There will also be entertainment areas such as a home gym, a bar, a wine cellar, a games room, and home cinema areas. An elevator will connect all floors of the building.
Construction of The Palms Marbella is scheduled to start in March 2024 and be completed in June 2025. The opportunity to enjoy exclusive luxury and living close to the world's celebrities will cost from €6.5 million.
On another 105-acre plot between Marbella and Estepona, the company will offer buyers 11 premium villas of around 400 square metres each. One of these villas is expected to cost around EUR 2.3 million. Construction is scheduled to start in April 2024 and to be completed in October 2025.
Realco is currently developing 6 residential projects in Vilnius, Lithuania. The company is selling the last fully-furnished apartments in the Go life project and in the higher-end project Vileišio 27, also continuing the construction of the 96 flats prestige project Algirdo 3. Work is also underway on the new project Baltupis, where 366 apartments are to be built, as well as on the projects Just-in and Parodų g. 1, which will add 499 and 680 apartments to the capital's real estate market.
The company is also developing the Hero business centre in the capital's business district on the right bank of the Neris River. The A class business centre will offer almost 32,000 sqm of leasable space.