By Euro Weekly News Media • Published: 12 Dec 2013 • 11:00
ARAB INVESTMENT: Don Miguel Hotel
AN Arab investment group intends to reopen the Don Miguel Hotel in Marbella in 2015.
The Magna Invest Foundation, based in Luxembourg with Libyan capital, plans to invest close to €50 million in the hotel, which has been closed for 10 years, and make it into a luxury five-star resort called the Magna Palace Marbella, its first venture in Spain.
The group bought the building last year and hopes to put the work out for public tender in early 2014.
The hotel is to have 300 deluxe rooms, 73 suites, 12 restaurants, a business centre, shopping centre, gym, spa, disco and cinema.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.