New Project! Invest in 205 sea-view homes on the Costa del Sol

At Urbanitae, we continue to focus on real estate investment opportunities in strategic locations. Today, we present El Higuerón TB65, a capital appreciation project in Fuengirola (Málaga) to develop a residential complex of 205 multi-family homes with a granted building permit. Project funding will open on the platform on Wednesday, April 30 at 4:00 p.m. (UTC+2).

A high-demand development with sea views

The El Higuerón TB65 project involves the construction of 205 homes distributed across 7 blocks, featuring landscaped communal areas, a swimming pool, 410 parking spaces, and 152 storage units. The layout of the blocks takes advantage of the sloping terrain, meaning that most homes will enjoy sea views.

Each block has a maximum height of three stories. All homes include a terrace; ground-floor units come with a private garden, while penthouses feature a solarium. The average built area is 106 m² – including terraces counted at 50% – and the units range from 1 to 3 bedrooms.

El Higuerón is one of the most dynamic areas on the Costa del Sol, located between Fuengirola and Benalmádena. The area offers tranquility, elevated sea views, close access to the A-7 motorway, and proximity to Málaga airport. It already boasts high-end amenities such as the Hilton Curio Collection hotel, with sports facilities, a spa, coworking spaces, and restaurants.

Over 500 homes developed in the area

The developer of this project is Top Gestión, with whom we recently financed El Higuerón TB51. Top Gestión is a leading player in the residential development sector in Spain. The company is currently managing more than 2,300 homes and has a business volume exceeding €1.175 billion.

In the immediate surroundings of the project, Top Gestión has developed over 500 homes, more than 150 of which have already been delivered. In addition to its developments in El Higuerón, it also operates in Marbella, Málaga, Ibiza, Alicante, Madrid, and Guadalajara.

Preferred equity investment structure

This project is structured as a capital increase. Urbanitae investors will contribute €5,000,000, while the developer will contribute 20% of the total capital, aligning their interests with those of the investors.

The financial structure has already been agreed upon with a top-tier bank, which will finance both the land acquisition and construction. For initial costs, the project will use an alternative financing tranche, which will be repaid once the bank loan for the land is disbursed.

The sales of El Higuerón TB65 will be handled by Prime Invest, an agency with a strong presence on the Costa del Sol, in Granada and Ibiza, currently marketing 1,250 residential units.

In terms of returns, Urbanitae investors will benefit from a preferred annual IRR of 12%. This means they will recover their capital and returns before the developer receives any profits. From a 15% IRR onward, the developer will receive a share of the profits generated above that threshold.

As this is an equity project, regulations prevent us from publishing projected total returns. However, returns can be estimated using the figures provided in the project sheet with the following formula:

(Estimated revenue – Estimated costs) / Total equity

We explain the project highlights in this video: