Property which is located in a tourism hotspot relies, to some extent, on the health of that tourism market, and Marbella property and property along the wider Costa del Sol is no exception. Aqua Estates has already reported on the €400 million Port Al-Thani project planned for Marbella, and we’re now excited to reveal plans for a joint Saudi-Spanish Marine Tourism Project which will further boost tourism and the property market in Marbella and the surrounding area.
Marbella has long been a favourite destination for Saudi families, following in the revered footsteps of their royal family who regularly holiday here. Before his death, King Fahd would spend many summers at El Rocío, surely the most palatial of Puerto Banus villas, being a sprawling complex of fittingly majestic buildings located on the Golden Mile, and Marbella remains popular with the rest of the Saudi royals. Mayor of Marbella Angeles Muñoz told Saudi Arabian newspaper the Saudi Gazette that she welcomed Saudi tourists to Spain all year-round and announced a special plan to improve tourism in Marbella focusing on “recreational, therapeutic and educational aspects” aimed specifically at the Saudi market.
Muñoz was speaking at the recent unveiling of a project which is sure to attract more Saudi tourists and provide a significant boost to tourism in Marbella, with a knock-on positive effect on Marbella property. The Jeddah Chamber of Commerce and Industry (JCCI) Tourism Committee and the chairman of Al-Ahlam Marine Tourism Group, Prince Abdullah Bin Saud Bin Mohammad announced plans for an ambitious joint Saudi-Spanish Marine Tourism Project. Meeting with Mayor Muñoz at the Al-Ahlam Marina in Jeddah, Prince Abdullah said that they discussed “the best ways to benefit from the experience in maritime entertainment and sightseeing”, citing the reason for choosing Spain for this joint venture as “although the population of Spain does not exceed 40 million, it receives more than 70 million tourists a year”. With a significant portion of these tourists choosing to come to the Costa del Sol each year, Marbella was the perfect choice for the location of this exciting new venture. Both countries have been equally positive about this new partnership, with Prince Abdullah commenting that “The Spanish government benefits from mild temperatures year round in addition to competitive prices and accommodation rates as compared with other European countries like Italy and France”, and Mayor Muñoz expressing her admiration for the civil progress in the Saudi Kingdom and stating that Spain hopes for more cooperation between the two countries in tourism and maritime recreation.
Owners of Marbella apartments, townhouses and villas available for rent will look forward to the expected uplift in rental opportunities that this boost to Marbella tourism will provide, while ambitious long-term projects such as this Saudi-Spanish Maritime Tourism Project can only help to solidify the capital appreciation of properties in and around Marbella.