Cordia & Otero Group create a Joint Venture to develop Jade Tower in Fuengirola
Fuengirola joints the well-known Golden Triangle of the Spanish Costa del Sol with an exclusive residential complex project.
Cordia & Otero Group create a Joint Venture to develop Jade Tower in Fuengirola
- The partner companies will build and market 116 high-end apartments betting on urban luxury and exclusivity in the common areas and services.
- This project will generate about 240 direct and indirect jobs.
Malaga, March 10th 2020 – Cordia and Otero Group have agreed a Joint Venture to develop and market Jade Tower, a high-end residential complex in Fuengirola, in the Spanish Costa del Sol. Otero Group will be responsible for the design and construction of the tower, while the commercialization will be managed jointly. This project will generate about 240 direct and indirect jobs.
With this development consisting of 116 high-end apartments betting on urban luxury and exclusivity in the common areas and services, the city of Fuengirola will become a part of one of the most lucrative property markets in Spain, the so-called Golden Triangle of the Costa del Sol.
“To achieve our goal to become a major real estate developer in Europe and in order to support our expansion, we are looking for new locations with liquid real estate markets, our target cities of Costa del Sol are just such locations”, says Tibor Földi, CEO of Cordia and Gábor Futó, founder and majority shareholder of Cordia.
Ruben Otero, Otero Group CEO, thinks that “this Joint Venture agreed with Cordia will be a boost in the development of real estate projects of the highest quality in the Costa del Sol. In this partnership Otero Group provides all the knowledge acquired about the urban development of the area, backed by the more than 300 million euros in assets under development and commercialization and the nearly 3,000 actions carried out since our foundation”.
Jade Tower is being constructed in one of the last few free plots of the city’s coastal strip, at only 100 meters distance to the Mediterranean Sea. The development represents a brand-new urban real estate offer which is committed to excellence in common services and affordable luxury; without losing sight of the lifestyle of the Costa del Sol, its traditions and the family environment.
The residential complex, expected to be ready during the summer of 2022, consists of 116 apartments and penthouses of 1, 2 or 3 rooms with total surface areas (housing plus terrace) from 100 m² to 430 m². Jade Tower offers a unique lifestyle in Fuengirola, as it’s the first project in the city that has coworking spaces. An attractive proposal that not only seeks to facilitate daily life, but also to promote new forms of community with other residents, taking advantage of the multicultural potential of the Costa del Sol.
In its commitment to innovation and technology, the residential complex has a private app from which residents can manage all the services offered by Jade Tower. A wide and exclusive range of activities that goes beyond the maintenance of housing; including organizing dinners with some of the most famous chefs in the area, enjoying the private gym and spa or watching a movie in the cinema room.
Jade Tower is a sustainable building that will be constructed under the international seal BREEAM, the highest certification and guarantee of energy efficiency. Its contemporary design is a pioneer in the use of the BIM (Building Information Modeling) methodology.
* For complete information about the project and its technical and architectural features see the press kit, or visit the web site https://jadetower.es/
Media contact:
MARIE-NOËLLE COMUNICACIÓN
comunicacion@mncomunicacion.com
+34 952 908343
About Cordia
Cordia is a member of the well-capitalized Futureal Group, one of the largest real estate development and investment corporate groups in the Central and Eastern European region. Cordia is Hungary’s leading residential developer, with a number of completed and in-progress projects in Hungary and in other countries in the region (Romania, Poland), while also undertaking a pilot project in Spain. In Hungary, Cordia has developments in downtown Budapest along the Danube, and in suburban areas of both Buda and Pest: the company offers new homes in a total of 13 projects. So far, Cordia has sold 6,600 apartments in Hungary, and abroad, Poland and Romania the construction of more than 4,200 units currently underway, and the development of over 5,000 additional homes is in the preparatory phase.
About Otero Group
Otero Group is the leading company on the Costa de Sol in real estate project management from its conceptualization to delivery to the client. His record includes more than 3,000 real estate and commercial buildings; designed and built by the team of experts and professionals of the company ranging from architects, surveyors, civil engineers, draftsmen, project managers or investment advisors. The Group currently has more than 300 million euros in assets under development or commercialization.
