Otero Group lays the foundation stone of its luxury residence project, Oceanic, in Manilva

Otero Group lays the foundation stone of its luxury residence project, Oceanic, in Manilva

The total investment for the construction of the complex amounts to €42 million.

Yesterday, Otero Group celebrated the laying of the foundation stone for its luxurious urban development project, Oceanic. With this act, it celebrates the completion of the urban planning procedures, which are necessary for the start of the building works, and consequently the beginning of its first phase. Specifically, the 15 projects that make up this development, which are in the final stage of obtaining a construction license.

Attendees of the official event included the Director of Operations of Otero Group, Javier Braza, the Legal Director of the urban planning and management department, Santiago Marco, and the Town Planning Councillor for the Manilva municipality, Marcos Ruiz and the councillor for tourism and beaches, Eva Galindo.

The first phase of the development, which is located in La Paloma (Manilva), has experienced huge success, achieving 100% sales in less than 6 months. Having been granted an urbanisation works license (representing the completion of necessary procedures for the building license), Otero Group has fulfilled one of its most important milestones for this project: the start of construction. Given this success, Otero Group has already released the second phase of Oceanic to its client base. They will carry out the commercialisation of phase two alongside the execution of the urbanisation works of the entire area and construction of the first phase, which has generated great expectations in the commercial network of the Costa del Sol.

Rubén Otero, CEO of Otero Group, has stated: “The completion of the urban management procedures is undoubtedly an important milestone under our strategic growth plan in the luxury residential area“. He continues by highlighting the key importance of the town of Manilva, where they plan to increase their presence further. For the CEO, “the municipality has a great capacity for enticing large-scale industries (construction, tourism and services sectors) without undermining the provision of infrastructure that the development provides to the municipality. It is our desire to carry out new institutional acts in other sectors such as the one celebrated today at Oceanic, a symbol of a greater generation of wealth for the local economy”.

In addition, the Town Planning Councillor has stated that: “We are sure that OCEANIC will be a benchmark for Manilva due to the high quality housing and infrastructure that are going to be built. We also want to emphasise the legal certainty that there is in Manilva, which is the best place to live and to invest. Also our privileged geographical location, with 8km of beaches and a terrain of gentle hills providing unique views of both Gibraltar and the straight towards the Costa del Sol”.

Comprised of 25 luxury villas with panoramic views of the sea, the Oceanic project offers three types (Silver, Gold and Unique), of which prices range from between €1,387,000 and €1,820,000. Oceanic is a development that breathes in the aroma of the sea from the balcony of La Paloma, and that will have a significant positive economic impact for the town, with a total investment of €42 million. Otero highlights how many local employment opportunities will be created by this project that will greatly benefit the local community, estimating that this development will create 100 direct jobs and 200 indirect jobs.

Furthermore, this project has expanded Otero´s client profile. In this way, Braza points out that although “the loyalty of British clients continues to be maintained, the Belgian, Polish and Northern European markets in general have also become part of our client portfolio, having acquired villas in the first phase of Oceanic.”

In particular, Braza comments on the international interest of this project. More specifically, he estimates that 40% of buyers will be of British origin, 15% from Poland, another 15% German and a 5% share of buyers from Belgium, Australia, the USA, Canada, Malaysia and Norway, respectively. In this regard, he explained that, although the presence of Polish clients on the Costa del Sol has been increasing for a few years, the area has experienced a significant rebound recently. This is due to the country’s proximity to the war in Ukraine; therefore, it has encouraged buyers to look into the possibility of having a second residence, which is safe and protected.

Otero Group also wanted to emphasize that Oceanic is part of the ongoing business strategy for Manilva, an area in which the group has already implemented other luxury residential developments such as Aquamarina, Don Amaro and Duquesa Valley (which are currently in the construction phase), all of them standing out due to their exquisite designs, characteristic of the group.

Our agency MN Comunicación has been responsable for the entire organisation and communication of this event.