The luxury real estate and hospitality sector on the Costa del Sol is undergoing a small revolution, driven by a massive influx of international capital, the scarcity of ready-to-build land in exclusive locations and the consolidation of an ultra-luxury tourism and residential model. In this mature market, the development of Higuerón Marbella Golf Resort emerges as one of the most significant drivers of the decade for the region. With an estimated overall investment of 220 million euros, this large-scale project is set to completely redefine the standard of residential and hotel luxury in Southern Europe.

At Nevado Realty, we take an in-depth look at the key aspects of this exceptional development and explain why it represents an unrivalled opportunity for investors and buyers seeking sophistication, design and profitability.

Key figures that define Higuerón Marbella Golf Resort

This megaproject began following a strategic alliance formalised in the iconic Peacock Alley, the famous corridor almost 100 metres long that connected the two original buildings of the legendary Waldorf-Astoria hotel in New York.

As a curious fact, at the end of the 19th century (1897) the cream of high society liked to be seen there, which is why the New York press nicknamed it “Peacock Alley”.

It was there that Javier Rodríguez, CEO of Higuerón Developments, and Chris Nassetta, President and CEO of Hilton, sealed the arrival in Spain, for the first time, of the prestigious ultra-luxury brand Waldorf Astoria. With an opening scheduled for 2029, the resort covers an area of more than 1,000,000 square metres.

The renowned hotel group will leave its mark with a hotel featuring the following main characteristics:

Five-star superior hotel: comprising 120 rooms and suites with uninterrupted views of the Mediterranean Sea.
Hospitality and wellbeing: the Waldorf Astoria chain has turned the aforementioned Peacock Alley into a registered brand for the lounges, main lobbies and signature bars found in its hotels around the world. There we will find live music and fine mixology. In addition, the complex will offer multiple signature dining concepts, a 750-square-metre spa and wellness area, and several indoor and outdoor swimming pools.
Golf course redesign: a comprehensive remodelling will be carried out on the historic original 18-hole, par-72 golf course —designed in 1994 by Robert Trent Jones Sr.— following strict criteria of extreme sustainability and water saving.
Exclusive residences: a collection of 120 branded residences linked to the hotel’s services will be built.
Iconic architecture: a conceptual design developed through an international competition with the collaboration of three Pritzker Prize-winning architects.

Higuerón Marbella Golf Resort Report download

How is the global Branded Residences market evolving?

Let us first try to understand how the Branded Residences market works. According to the annual Branded Residences 2025-2026 report by the consultancy Savills, the number of projects worldwide grew by 19% year-on-year, rising from 764 developments in 2024 to 910 in 2025. Likewise, Knight Frank estimates that the global market will reach 162,000 operational units by 2030, which would represent an increase of more than 160% compared with pre-pandemic levels.

In the European context, Spain ranks among the countries showing the strongest growth in this area: at the beginning of 2026 it established itself as the second European country with the highest number of projects under development (22), level with Turkey and ahead of the United Kingdom.

Brand premium

Brand premium refers to the price premium these properties command over unbranded luxury properties— in Europe it reached an average of 38%, above the global average of 33%. Projections indicate that by 2032, 65% of new global supply will be concentrated in resort-type markets, supported by concepts such as the “home within a two-hour flight” (Two-Hour Home) for executives and high-net-worth individuals.

Particularities and restrictions of ownership

For example, properties acquired in the Waldorf Astoria complex come with a management agreement with the brand. In other words, the operator maintains strong control over aesthetics and offers little flexibility when it comes to including your property in the hotel’s rental programme (rental pool).
If they wish to join this programme, owners are required to purchase a standardised furniture package that meets the standards of a Waldorf Astoria suite. The number of days of private use of the residence is also limited.

In addition to the higher price of this type of residence mentioned above, it is also worth highlighting the very high community fees due to the large number of services available. In return, gross rental yield rises from 4-6% per year to 6-8% thanks to the trust inspired by the brand.

Golf and sea views from Higuerón Marbella Golf Resort (AI-generated illustrative image)

Positioning of the luxury real estate market in Marbella

It is worth highlighting Marbella’s positioning, as the city benefits from a shift in trend. Previously the market was divided between urban locations and holiday destinations, whereas now 65% of this supply is expected to be concentrated in resort-type markets by 2032.

The Marbella market has entered a phase of maturity, marked by a stabilisation in volume and sustained price growth. According to the real estate portal Idealista, the average asking price in Marbella reached €5,956/m² in August 2026, a year-on-year rise of 4.0%. In ultra-exclusive enclaves such as the Golden Mile, Puente Romano or Sierra Blanca, prices easily exceed €14,000/m², and can surpass €22,000/m², reaching €30,000/m² for certain so-called “trophy” properties.

As for mortgage markets, many buyers do without credit institutions: more than 70% of transactions above 1.5 million euros are completed in cash (cash buyers). Moreover, 63.14% of purchases in Marbella are made by foreign nationals with an average age of over 52, which gives the property added value as a strategic long-term legacy asset.

Marbella has established itself alongside destinations such as Dubai and Miami as a place where investors are not looking for a simple holiday home, but for a primary or secondary residence for extended use. This is possible thanks to a wide range of services that includes:

24/7 services.
Access to top-tier international schools.
A wide luxury dining scene.
Good connections to international airports.

Impact of Higuerón Marbella Golf Resort on the repositioning of East Marbella

The scarcity of ready-to-build land on the Golden Mile (especially large plots suitable for major projects) has led institutional investors to turn their attention to East Marbella (Los Monteros, El Rosario, Santa Clara and Río Real). The 220-million-euro injection from the Waldorf Astoria, together with the Four Seasons Marbella Resort megaproject (700 million euros and around 300 residences), the 260 million for the renovation of the historic Hotel Incosol and the modernisation of Hotel Don Carlos, will create a powerful ripple effect. Expectations are that, over the next decade, the gap in price per square metre between East Marbella and the Golden Mile will narrow as five-star services become established in the eastern part of the city.

Legal, environmental and tax framework of the project

The execution of this development is backed by solid technical and regulatory guarantees:

Planning security: supported by Andalusia’s LISTA Law and the completion of Marbella’s new General Municipal Development Plan (PGOM). This provides full transparency and legal certainty for licences.
Sustainability and hydrology: the redesign of the golf course by Robert Trent Jones Jr. is aligned with the plans of ACOSOL (the public water management company of the Association of Municipalities of the Western Costa del Sol). The exclusive use of reclaimed water, guaranteeing the resort’s resilience to drought restrictions, is a plus that aligns the city’s interests with security for investors.
Tax structure and wealth protection: Andalusia applies a 100% relief on Wealth Tax. Likewise, the TEAC ruling of December 2025 guarantees that non-resident investors (including American, British and Middle Eastern investors) are entitled to the “tax shield” and the tax-free allowance under the Solidarity Tax on Large Fortunes (ITSGF), protecting their global assets.
Acquisition costs: the purchase of new-build (off-plan) property is subject to 10% VAT and 1.2% Stamp Duty (AJD), adding up to a combined tax burden of 11.2%. When renting through the rental pool, EU residents are taxed at 19% on net income after deductions, while non-EU residents face a 24% withholding on gross income with no deduction of operating expenses.

Summary

The project will strengthen East Marbella’s position as an alternative to the Golden Mile, establishing it as another option for ultra-luxury.
Consolidation of the hybrid real estate-hotel model. This model makes it viable for the developer to take on construction costs thanks to rising prices. For the buyer, it removes the friction of remote management.
Confirmation that legal certainty and climate resilience are factors that encourage investment.
Strengthening of Marbella and the Costa del Sol against global ultra-luxury destinations, evolving from a holiday destination into a well-connected ultra-luxury residential capital with excellent services.

At Nevado Realty, a real estate agency specialising in central Marbella and the Golden Mile, we have more than thirty years of experience in the Marbella luxury property market. We support our clients in identifying exclusive opportunities, throughout the entire process and beyond. If you would like personalised information about Higuerón Marbella Golf Resort and to find out how to become part of this select setting, we invite you to contact our specialist team.