REAL ESTATE company Quabit is to invest millions in building 674 homes in Mijas.
Around 79,000 square metres of land will be used to construct residential and commercial buildings in the Las Lomas del Flamenco area.
The plot will house 147 detached family homes, 91 other family properties and 436 residential homes in an apartment block. It is thought the majority of buyers will be second-home owners and foreigners.
It comes after Mijas Council announced it expects to receive hundreds of millions of Euros of investment from Britons buying up property locally in the 10 years following Brexit.
Juan Carlos Maldonado, Mijas’ Mayor explained, “this council team has managed to instil confidence in British buyers to come and spend their money in our municipality.”
He added the first €10 million has already hit Mijas, explaining, “the number of licences for building work in Mijas is growing and this real estate development reveals the confidence the town generates.”
Mijas is also attracting substantial investment in its hotel industry. Juan Carlos Maldonado recently announced the council has approved a building permit to refurbish luxury hotel, Byblos, with works beginning after the summer.
Maldonado commented, “the deadlines are being met and, if everything continues to go to plan, once the summer season ends, this tourist attraction will have a green light to start refurbishments.” He added, “Byblos is a year-round quality attraction which draws in crowds in the golfing sector and most importantly boosts our town’s economy and generates employment.”
The hotel is located on a plot of 50,873 square meters in the Mijas Golf urbanisation, offering sports equipment rental, a private green, hotel and small public green. Works will include adding 300 parking spaces below ground and 230 rooms.
The hotel’s spa takes up an impressive 5,293 square metres, the hotel 35,424, the private green 15,056 and the private sports area 1,915 square metres, with costs expected to reach €60 million to buy and refurbish the huge space. The investment will involve employing 200 staff directly, and 500 others indirectly.