Interview with Jacobo Cestino, Managing Director at La Zagaleta La Zagaleta has become established as Europe’s most luxurious urbanisation.
How would you define living here? In short, what does such an exclusive place offer its clients and what are they looking for?
Privacy, without a doubt. We have been faithful to our absolute confidentiality philosophy for 25 years. Safety is another key factor, and of course the location of the properties and the real estate development philosophy.
The initial plan was to build 3,000 houses, but the ideologist of the whole operation, Enrique Pérez Flores, (currently the Honorary President of the company) proposed just 420 and for them to be villas only.
This number guaranteed that the area would not become too built up and thanks to this, the homes are now surrounded by lush and well-kept vegetation, with unspoiled views to the Mediterranean, Africa, Gibraltar, lakes and the two 18-hole golf courses.
What is the size of the smallest plot that can be purchased on the estate and what’s the price range?
The smallest plot is 3,000m2. There are currently more than 220 villas built on plots of between 3,000 and 10,000m2. They are priced between eight and €15 million.
Generally, all the properties in La Zagaleta have indoor and outdoor swimming pools, sauna, Turkish bath, spa, garage and features such as private cinema and home automation systems. What adds further value is the orientation of the villa, and of course, the size of the plot.
What is the typical profile of homeowners at La Zagaleta? Our clients are high-ranking executives, successful career men and women who are looking for an exclusive location where they can enjoy total peace, privacy and security.
Thirty per cent are British, 30 per cent Germans, 30 per cent Swiss, Danish and nationals from other Northern European countries; and the remaining 10 per cent is made up of Spanish and Arab homeowners.
Spain’s economy seems to have overcome the worst of the financial crisis. Do you think that a positive financial trend, if not the boom of previous years, has begun?
The improvement of economies in the Euro zone, combined with the view that the Spanish market and prices hit rock bottom a couple of years ago and would no longer decline, has given way to a new path of long and sustainable growth.
The reality of encountering a country with modern infrastructures and facilities, attractive prices, stability and a highly attractive way of life has therefore generated a positive trend among the Spanish themselves and potential investors from abroad…