• La Zagaleta is one of the most exclusive and luxurious residential golf estates in Europe, located in the hills of Benahavís near Marbella Spain, spanning 900 hectares of land with its own private helipad
• The private gated development is a well-established estate, providing Modon Holding with a robust development pipeline of luxury residential units in the heart of Costa del Sol close to Marbella
• The acquisition is a continuation of Modon Holding’s international investment and expansion strategy and marks a significant milestone of its entry into Europe’s luxury real estate market

Abu Dhabi, UAE; 19 December 2024: Modon Holding P.S.C (“Modon Holding”), an Abu Dhabi based holding company, today announced that as a continuation of its international investment and expansion strategy, has completed the acquisition of 100% of La Zagaleta S.L (“La Zagaleta”), the owner of the exclusive La Zagaleta residential estate in Costa del Sol, Spain, marking a significant milestone for Modon Holding’s entry into Europe’s luxury real estate market.

La Zagaleta owns approximately 2.7 million square metres of land area inside La Zagaleta resort, and this will provide Modon Holding with a robust development pipeline of luxury residential units in the heart of Costa del Sol, a hotel plot that will embed a hospitality offering to the estate, the overall management of the estate and the 300+ homes already built. The acquisition by Modon Holding will accelerate the remaining development of the estate while preserving its legacy, exclusivity and the natural habitat. In addition, the transaction includes La Zagaleta’s planned Majarambuz development, historically known as Valderrama II within the Castellar Development Plan adjacent to Sotogrande, a 2.2 million square metre land bank (including protected green areas) that is in the process of being urbanised.

H.E. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “The acquisition of La Zagaleta is an important milestone in Modon Holding’s strategy to pursue international growth, supporting our vision to develop new possibilities for scaled luxury living. La Zagaleta ranks among the world’s most prestigious and exclusive private communities and is a remarkable addition to the Modon Holding portfolio. This acquisition sets a benchmark for future expansion that is fully aligned with Modon Holding’s ambition to consistently surpass expectations, and brings new potential and capability to our international real estate strategy.”

Bill O’Regan, Group CEO of Modon Holding, added: “With an established reputation for outstanding design, diverse leisure and luxury amenities, and careful stewardship of the natural environment, La Zagaleta offers a location where luxury, privacy and security are absolutely assured. The potential to carry on the La Zagaleta’s legacy, extend it across the Majarambuz development, historically known as Valderrama II masterplan, and the potential to expand the Zagaleta brand internationally, will be a key part of the Modon Holding strategy for this acquisition. We are proud to welcome La Zagaleta to our portfolio, as part of our strategic expansion into one of Europe’s most desirable luxury real estate markets.”

Ignacio Perez, Executive Chairman of La Zagaleta, said: “The success of La Zagaleta is built on an absolute commitment to quality in every aspect of the community, which we believe offers our residents an unrivalled luxury and safe living experience. The added scale that comes with Modon Holding’s investment will allow La Zagaleta to realise the next phase of its vision, explore the full potential of La Zagaleta’s brand and expertise, and we look forward to the journey ahead with great excitement.”