Arab investment to revive Marbella hotel

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.

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