TENNIS star Rafa Nadal and Ibizan businessman, Abel Matutes, will invest over €200 million to build luxury homes on the Costa del Sol.
Under their new joint venture company, Palya Invest, they plan to build a hundred luxury villas and apartments at two sites, which will be completed in either 2027 or 2028.
Matutes- from Ibiza- is president of the Palladium Hotel Group while Nadal has already worked with Mallorca-based hotel group, Melia, to develop a new brand called Zel.
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They have been friends and business partners for years and it is not the first time they have invested together.
The duo plan to build around 50 beachfront houses in Estepona and around 40 in Nagueles de Marbella.
The developer with which they have partnered is promoting ‘branded residences’ in an area with luxury branded stores such as Dolce & Gabbana, Fendi and Karl Lagerfeld, as well as the Sierra …