Abu Dhabi – Mubasher: Modon Holding has completed the acquisition of La Zagaleta S.L, the owner of the exclusive La Zagaleta residential estate in Costa del Sol, Spain.
Supporting its international investment and expansion strategy, the transaction marks Modon Holding’s entry into Europe’s real estate market, according to a press release.
La Zagaleta owns around 2.70 million square metres of land area inside La Zagaleta resort, which will provide Modon Holding with a wide range of luxury residential units in the heart of Costa del Sol.
The transaction includes La Zagaleta’s planned Majarambuz development, historically known as Valderrama II within the Castellar Development Plan adjacent to Sotogrande.
Jassem Mohammed bu Ataba Al Zaabi, Chairman of Modon Holding, said: “This acquisition sets a benchmark for future expansion that is fully aligned with Modon Holding’s ambition to consistently surpass expectations, and brings new potential and capability to our international real estate strategy.”
Last month, the ADX-listed company teamed up with Hassan Allam Holding to explore collaboration across large-scale construction projects in Egypt.
