looking to buy a home?
Submit this Form and Benefit from our 25 Years' Experience & Strong Local Network.Located in the hills of Benahavís near Marbella, La Zagaleta is synonymous with luxury, privacy, and exclusivity. As one of Europe’s most luxurious residential estates, it has long attracted high-net-worth individuals and celebrities looking to buy property in the heart of the Costa del Sol.
In a move that has captured global attention, Abu Dhabi-based Modon Holding recently announced the acquisition of La Zagaleta S.L., the company that owns and manages the iconic La Zagaleta residential estate.
This marks a significant step for Modon Holding as it enters the European luxury real estate market, reflecting a growing trend of Middle Eastern investment in Spain. This landmark acquisition not only marks Modon Holding’s first major real estate investment in Europe but also signals a new era of development for La Zagaleta, including the Majarambuz project adjacent to Sotogrande.
Here’s a detailed look at this landmark deal and its implications.
History of La Zagaleta
Located just a short drive from Marbella and Puerto Banús, La Zagaleta spans over 900 hectares of lush, mountainous terrain. Once a private hunting estate owned by Saudi arms dealer Adnan Khashoggi, the area was transformed into a low-density, high-luxury residential community in 1991 by a group of Spanish investors, led by Enrique Pérez Flores.
Today, La Zagaleta is home to around 250 luxurious villas and mansions, with properties often exceeding €30 million in value. This gated community features two world-class golf courses, an equestrian centre, two exclusive clubhouses, a private helipad, and 24-hour state-of-the-art security systems. These amenities, coupled with its stunning Mediterranean views, make La Zagaleta one of the most coveted addresses in Europe.
About Modon Holding
Formerly known as Q Holding PSC, Modon Holding is a prominent holding company headquartered in Abu Dhabi, specialising in residential projects, hotels, and leisure projects. Backed by ADQ and IHC Group, both tied to Abu Dhabi’s royal family, Modon Holding has an impressive portfolio of high-end development projects across the Middle East and North Africa.
Some of Modon Holding’s standout projects include:
- Maysan
- Hudayriyat Island
- Nawayef Park Views
Additionally, Modon’s appointment as the master developer for the Ras El Hekma megaproject in Egypt, a large-scale city development on Egypt’s north coast, signifies its expansion into international markets.
Details of La Zagaleta Acquisition
On 19 December 2024, Modon Holding announced its acquisition of 100% ownership of La Zagaleta S.L., the entity managing this luxurious enclave. While the financial details remain undisclosed, sources indicate that the deal represents one of the most significant real estate transactions in the Costa del Sol’s history. This shows the growing value of the region as a hub for luxury living.
The transaction includes a prime hotel plot designed to introduce premium hospitality in the community and oversight of La Zagaleta operations. Additionally, the Majarambuz project, historically known as Valderrama II which is part of the Castellar Development plan, is also included in the deal. This undeveloped land bank spans 2.2 million square meters and offers immense potential for future residential and recreational projects. This ambitious project plans to feature an exclusive golf course designed by Tom Doak, residential villas, and protected green spaces, further solidifying the region’s position as a luxury real estate hotspot.
Discover more about the Majarambuz project by reading our in-depth article on La Zagaleta Sotogrande–Castellar.
Significance of the Acquisition
This acquisition not only highlights the Costa del Sol’s appeal as a luxury destination but also reflects a broader trend of increasing foreign investment in Spain’s high-end real estate sector. Marbella and its surrounding areas have consistently attracted global attention, and this deal is likely to spark further interest from international investors.
For La Zagaleta, this deal could further enhance its reputation and solidify its status as a global benchmark for luxury living.
On the other hand, for Modon Holding, the acquisition not only diversifies its portfolio but also positions the company as a leader in the European luxury real estate sector. According to Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, the move aligns with the company’s strategy to expand its global footprint and explore new opportunities for luxury living.
Market Context
Costa del Sol has emerged as a hotspot for investment, driven by its world-class amenities, and vibrant lifestyle. The region’s luxury segment remains highly sought after, with demand consistently outpacing supply.
Middle Eastern investors have shown a growing interest in the Costa del Sol real estate market, seeking diversification and opportunities in stable markets. The La Zagaleta acquisition aligns with this trend and highlights the Costa del Sol’s appeal as a lucrative investment destination.
Final Thoughts
The acquisition of La Zagaleta by Modon Holding marks a new era for one of Europe’s most exclusive residential estates. With plans to preserve its legacy, Modon Holding is set to redefine the standards of luxury living in the Costa del Sol. This transaction not only reinforces Costa del Sol’s position on the global luxury real estate map but also sets the stage for more new developments in the future.
