A BRITISH investment fund plans to spend €25 million on the construction of five luxury villas in Marbella.
The group, Pacific Investments, has its headquarters in London, and plans to begin construction on the villas as soon as the city council awards the building permit, a process which should be completed in the next few weeks.
The residences will be built in the Cascadas de Canojan, a sought-after and elevated area with stunning views of both the sea and the nearby mountains.
The project has been given the name Fontana, and will be aimed not only at the British market, but also at Scandinavians, Central Europeans, and Arab buyers.
The villas will share common architectural qualities but each one will be designed with its own unique style. They will be located on plots of land between 2,000 and 3,000 square metres, and each one will come with its own pool, gym, and wine cellar.
It is anticipated that the work should take between 18 and 20 months, with Pacific Investments therefore aiming for the project to be completed by 2018.