The prominent Russian business daily Vedomosti reported on RD Group’s entry into the Spanish real estate market. The key areas of investment are the coastal region Costa del Sol and the capital city Madrid.
Vedomosti reports that RD Group is currently in negotiations for the purchase of a piece of land of approximately 10,000 square meters in the coastal zone of Marbella in Costa del Sol for the construction of a high-class hotel and premium-class apartments along with the development of associated infrastructure. In total the complex will total approximately 20,000 square meters.
RD Group is also in talks over the purchase of a 1.7 ha piece of land in the mountainous area of Marbella, where the development group intends to create fashionable villas. The project plans include no less than 7 villas of 2,000 square meters each.
Market experts note that investors are slowly returning to Spain. Last year saw a large number of office and retail real estate deals, The Financial Times reported.
Reports on RD Group’s entry into the Spanish market were also published by other leading business media, including Interfax, RIA Novosti, ITAR-TASS, Prime, Gazeta.ru and CRE.ru.