We are thrilled to present a new capital gains project—the first of 2025—following the success of Varadero and Villa Orquídea. Once again, we’re in the province of Málaga, this time to develop more than 200 homes. You’ll be able to invest starting Friday, January 31, at 12:00 PM (UTC+1). Below, we share all the project details.
The Residencial Riviera del Sol project involves the development of 215 new-build homes with two, three, and four bedrooms in Mijas (Málaga), all of which include a parking space and storage room. The complex will feature extensive communal areas, including a shared pool, gym, coworking space, social club, and landscaped gardens. The project comprises seven buildings with four floors each, excluding those designated for parking and storage.
The homes will be located on Granate Street, on an elevated plot with sea views. The land is situated within the Riviera del Sol urbanization, just 10 minutes by car from La Cala Beach, 20 minutes from Marbella, and 30 minutes from Málaga and its airport.
The developer of this project is a returning partner of Urbanitae. Grupo Rosmarino successfully completed the Monterrey Residencial project, which was delivered in June 2024, and is about to deliver Residencial Santa Inés, expected in the first quarter of 2025. Since 2013, this developer has delivered nearly 1,000 homes.
Co-investment in real estate development
The Residencial Riviera del Sol project follows a capital gains strategy, involving a partnership with the developer for the construction of 215 homes. Urbanitae investors will contribute a total of €5,000,000, which will be allocated toward acquiring the land and covering initial project costs until the developer loan is secured.
Grupo Rosmarino has already signed a private purchase agreement for the land. The building permit was applied for in January 2025, with approval expected in the second half of 2025 or the first quarter of 2026. Construction work is anticipated to begin in the first half of 2026. The project has not yet been marketed but will be spearheaded by the developer, who has significant experience in the area, along with a local real estate agent.
The developer will oversee the comprehensive management of the project and, along with their co-investors, will also be a project investor, contributing around 61% of the total investment capital.
In this video, the developer and our Director of Real Estate, Sergio Arana, explain the key aspects of the project:
Risk-adjusted returns
Since this is a very early-stage project, the anticipated returns in the business plan are higher than usual—proportional to the risk taken. One of the key advantages of this project lies in the asset’s purchase price: the land for the development is being acquired at a discount of nearly 35% below its appraised value.
That said, regulations do not allow us to disclose an estimated return figure in advance. As with all capital gains projects, it can be calculated using the project’s financial summary and the following formula:
(Projected Revenue – Estimated Costs) / Total Equity
The expected timeline for this project is 44–48 months. The land acquisition and permit application are planned for the first quarter of 2025, with sales expected to begin in the first or second quarter of 2025. Construction is anticipated to start in the fourth quarter of 2025 or the first quarter of 2026, and completion is expected in the third or fourth quarter of 2028. Delivery of the homes and project liquidation are projected for between the fourth quarter of 2028 and the first quarter of 2029.
Have questions? Join us for a webinar with the developer on Tuesday, January 28, at 5:00 PM (UTC+1), where they’ll answer any questions about the project. We encourage you to participate and invest in this exciting new project!
