Arab fund buys La Zagaleta: Gated Costa del Sol community where villas sell for over 30m is among the most exclusive in Europe [Video]

AN ABU Dhabi company has bought one of Europe’s biggest luxury housing developments- La Zagaleta on the Costa del Sol.

Modon Holding now owns the development in Benhavis which covers 900 hectares and includes two golf courses and its own private heliport.

The purchase is part of the firm’s international expansion and investment strategy and is its first acquisition in the European real estate market.

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La Zagaleta has over 400 luxury villas with price tags of up to €34 million as well as land waiting to be developed.

The package includes the Majarambuz project planned by La Zagaleta, historically known as Valderrama II, within the development plan for Castellar, next to Sotogrande which is in the process of being developed.

The Modon Holding chairman, Jassem Mohammed Bu Ataba Al Zaabi, said the acquisition of La Zagaleta represents ‘a significant milestone in the company’s international expansion strategy and supports its vision …