Costa del Sol: Top of the Malaga rich list

Largest landowner: The richest person in Malaga CREDIT: Twitter

BUSINESSMAN Tomás Olivo, president of the company that owns the La Cañada shopping centre and considered by Forbes magazine the richest person in Malaga and seventh in Spain, already controls most of the land in the urban expansion areas of Marbella and aims to become the largest landowner in the province. 


The entrepreneur has embarked on a strategy to purchase land and other assets in a double commitment to consolidate a presence in the shopping centre sector and place itself in a predominant position in real estate. Olivo’s fortune, according to Forbes, amounts to €2,100 million.


Land purchased by Olivo, including an area of ​​800,000 metres from La Serranía, located north of La Cañada and bordering its commercial center, was part of the heritage of British tycoon Judah Binstock, who died at his mansion in Marbella in December 2016. Binstock was the largest landowner in the city through Nueva Marbella Corporation and maintained a confrontation with Olivo for differences regarding the partial plan of La Cañada, where the land of both businessmen adjoined. They practically broke relations when in 2011 the wealthy British businessman unilaterally presented a partial plan for the entire area in Marbella that finally did not develop.

After the death of Binstock, Olivo negotiated with his widow for the land and so with the acquisition of Binstock’s inheritance, he went on to control most of the urban expansion areas of Marbella and become a powerful decision maker for the future of the area.

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Written by

Damon Mitchell

From the interviewed to the interviewer

As frontman of a rock band Damon used to court the British press, now he lives the quiet life in Spain and seeks to get to the heart of the community, scoring exclusive interviews with ex-pats about their successes and struggles during their new life in the sun.

Originally from Scotland but based on the coast for the last three years, Damon strives to bring the most heartfelt news stories from the spanish costas to the Euro Weekly News.

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