Skip to content Skip to Search
Skip navigation

UAE’s Modon enters Europe with Spanish developer deal

By Pramod Kumar
Architecture, Building, House Modon Holding
A view of the villas in La Zagaleta, one of the most exclusive and luxurious residential golf estates in Europe

Abu Dhabi’s Modon Holding has acquired 100 percent of La Zagaleta, the owner of the La Zagaleta residential estate in Costa del Sol, Spain, marking its entry into Europe’s luxury real estate market.

La Zagaleta, located in the hills of Benahavís and 20 minutes from Marbella, is an ultra-luxury gated residential development. It is spread over 900 hectares of land in Benahavís, with more than 400 luxury villas and plots, two private golf courses, two golf clubhouses, an equestrian centre, a private helipad and sports amenities.

Modon Holding will have access to 2.7 million sq m of land area inside La Zagaleta resort to build luxury residential units, a hotel plot, and the overall management of the estate and more than 300 homes already built.

The acquisition will accelerate the remaining development of the estate, Modon said, adding the transaction includes La Zagaleta’s planned Majarambuz development, which is in the process of being urbanised.

“This acquisition sets a benchmark for future expansion that is fully aligned with our ambition to bring new potential and capability to our international real estate strategy,” said Jassem Al Zaabi, chairman of Modon Holding.

The acquisition will allow Modon Holding to expand the Zagaleta brand internationally, said CEO Bill O’Regan.

Modon, which has largely been focused on projects in Abu Dhabi, has been appointed by the Abu Dhabi sovereign wealth fund, ADQ, as the developer for the planned multi-billion dollar resort and residential destination in Ras El Hekma, Egypt.

ADQ is one of Modon’s largest shareholders. 

Register now: It’s easy and free

AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.

Why sign uP

  • Exclusive weekly email from our editor-in-chief
  • Personalised weekly emails for your preferred industry sectors
  • Read and download our insight packed white papers
  • Access to our mobile app
  • Prioritised access to live events
Register for free

I’ll register later

Latest articles

New York's Fortress Investment Group has entered into a deal with Abu Dhabi's Mubadala

Mubadala and Fortress form $1bn private credit partnership

Abu Dhabi’s Mubadala Investment Company has entered into a $1 billion strategic partnership with New York-based Fortress Investment Group to invest in private credit, the companies said on Thursday. Private credit has expanded in recent years, attracting investments from some of the world’s largest asset managers, as stricter regulations make it more expensive for traditional lenders to finance riskier […]

India's Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman lead countries with young populations that benefit from global trade

India and Saudi Arabia’s common bonds

Events may have overshadowed Narendra Modi’s trip to Jeddah this week – the Indian prime minister was forced to cut his visit short because of an attack in Kashmir – but there was much for him to discuss with his Saudi hosts. Amid market volatility and the new dispensation from Washington, Saudi Arabia and India – […]

Aramex vehicle for shipment and delivery, Aramex co is logistics company delivering to any destination worldwide, internat

CEO of Dubai’s logistics company Aramex resigns

Othman Al-Jeda, group CEO of Dubai-listed logistics company Aramex, has resigned, the company said in a filing to the Dubai Financial Market on Thursday. Othman resigned “for personal reasons”, the company said, adding that the board of directors has appointed current chief financial officer Nicolas Sibuet as acting group CEO effective April 24.  Nicolas joined […]

Government ecommerce reforms in Turkey have decreased the duty free amount on foreign purchases to just €27

New ecommerce rules spur cost-benefit debate in Turkey

Turkish officials have denied media reports that they were about to block access to the popular Chinese online shopping platform Temu after it allegedly failed to comply with new regulations governing ecommerce. This has highlighted the debate in Turkey around the cost and benefit for the multi-billion dollar industry following this month’s introduction of the […]

Man walks by a sign for The World Bank Group at their global headquarters in Washington, D.C.

Lebanon receives $250m World Bank loan to ease power problems

The World Bank has granted Lebanon a $250 million loan aimed at helping to alleviate persistent power cuts worsened by last year’s war between Israel and Hezbollah, the country’s finance ministry said on Thursday. Even before the conflict, Lebanon had for years been struggling with a severe shortage of imported fuel and poor infrastructure. Following the conflict, however, […]

A drive-through ADIB ATM in Ras al Khaimah, UAE. The bank is ranked as the Middle East's 12th most valuable lender

ADIB profit up 18% on increased lending and fee income

Abu Dhabi Islamic Bank (ADIB) reported a double-digit growth in net profit for the first quarter, on the back of an increase in lending and income from fees and commissions. The bank, which is ranked by Forbes as the Middle East’s 12th most valuable lender, reported a net profit after tax of AED1.7 billion ($463 […]

A new study suggests the UAE labour market cannot provide work for all job seekers

UAE labour market: Too many people, not enough jobs

More people are looking for jobs in the UAE than there is work available for them, according to a labour market report from recruitment consultancy Cooper Fitch. Hiring in the second-largest Arab economy grew by less than 1.3 percent in the three months to March 31 compared with the same period last year, the report […]

Indian prime minister Narendra Modi meets Saudi Crown Prince Mohammed Bin Salman in Jeddah

New oil refineries in India among Saudi trade deals

Saudi Arabia and India have strengthened their trade partnership in the areas of energy, defence, tourism and culture following a visit by Indian prime minister Narendra Modi this week. Energy sector agreements include plans for two new oil refineries in India and collaboration on petrochemicals, electricity, renewable energy and climate policy, Bloomberg reported.  The countries, […]

Saudia will buy up to 20 A330 aircraft from Airbus

Saudia signs Airbus deal for up to 20 wide-body aircraft

Saudia, Saudi Arabia’s national airline, has finalised a new agreement with European manufacturer Airbus to buy up to 20 new wide-body A330neo aircraft. Of these, 10 are firm orders for Flyadeal, the group’s budget airline, the carrier said in a statement. The delivery of these aircraft is set to start in 2027, with the last […]

Opec+ has already agreed to increase oil output by 411,000 barrels per day in May

Opec+ to consider further oil output increase for June

Several Opec+ members are to suggest the group accelerates oil output hikes in June for a second consecutive month, as a dispute worsens between members over compliance with production quotas. Oil prices hit a four-year low in April, dragged down by a US-China trade war and an unexpected decision by Opec+ to increase output by 411,000 barrels per day […]

Shoppers in Tripoli, northern Lebanon. Rising food prices contributed to a small inflation increase in March

Lebanon inflation falls to 14% as exchange rate stabilises

Lebanon’s annual inflation rate fell to 14 percent in March, from 70 percent in the same month last year, according to news reports. The primary cause of the drop is the stabilisation of the country’s exchange rate, Arab News reported, citing data from the Central Administration of Statistics in Beirut. The rate has stood at […]

Morocco’s energy minister Leila Benali said the pipeline project has "made considerable progress" and is in the execution stage

Morocco and Nigeria agree terms for $25bn gas pipeline

Morocco and Nigeria have agreed to create a joint venture to manage a long-planned $25 billion pipeline which will ship gas to Europe, a Moroccan minister has said. Leila Benali, minister of energy transition and sustainable development, told Morocco’s parliament that a floating gas storage terminal would also be installed at Nador on the Mediterranean […]