A London-based real estate investment firm is to sink an eye-watering €250 million in a luxury development to be constructed in Ojen, as the Costa del Sol once again flexes its muscles following a record-breaking summer season.
Round Hill Capital is the developer behind the project, dubbed ‘Palo Alto,’ which has been designed by award-winning architects Villarroel Torrico and is expected to generate hundreds of jobs.
A beaming Jose Antonio Gomez Sanchez, mayor of Ojen (left), and architect Matias Villarroel were on hand to support the official presentation on Wednesday, November 30.
Gomez described Palo Alto as an important project not only for Ojen, but for the whole of the Costa del Sol, claiming “it will invigorate the area, socially and economically.”
He also talked about the team of architects and developers, praising them for their professionalism and the quality of their work. Villarroel, for his part, alluded to Palo Alto’s slogan: ‘Naturally Modern Living,’ which, according to his presentation, is something that “reflects exactly what we wanted to achieve with this development.”
In addition, he said Palo Alto was chosen in honour of the Pinsapo tree, a rare and endemic species in the local area.
The project, which is in accordance with Ojen’s town planning agreement, already has a licence and construction will begin next month.