Platinum, the investment firm spearheading the development of the W project in Marbella, has set its sights on opening the resort in 2025. Both Platinum and the Marriott hotel group, responsible for managing the resort under the prestigious W brand, are optimistic that the tourism industry will have fully recovered from the pandemic crisis by then.
The ambitious project, which has been included in the Junta de Andalucía’s scheme to expedite key tourism initiatives, requires a substantial investment of 200 million euros. Out of this sum, 66 million euros will be dedicated to constructing the hotel, and an additional 23 million euros will be allocated to furnish and equip the establishment.
Furthermore, 41 million euros will be invested in the development of residential properties, while 34 million euros will be directed towards urbanizing the surrounding area.
Platinum’s forecasts indicate a net profitability of 6.5 percent, and they expect to recoup their entire investment within a decade.
As part of the project’s commitment to sustainable development, efforts have been made to regenerate the Real de Zaragoza sand dunes, an environmentally significant area on the east side of Marbella. Platinum, headquartered in Hong Kong, has already contributed one million euros to this initiative, which involves reclaiming a 200-meter strip for public use and safeguarding one of Marbella’s most vital environmental assets.