Spanish tennis player Rafael Nadal and Abel Matutes Prats, chairman of the Palladium hotel group, are preparing to jointly invest around €200 million in a major new property development on the Costa del Sol. The partnership will see the construction of around a hundred luxury villas and flats as part of the ‘branded residences’ concept.
As reported in the business newspaper Cinco Días, branded residences are luxury real estate properties managed by brands associated with the hotel and luxury sectors. These exclusive residences offer top-of-the-range services such as concierge services, luxury restaurants, gyms and spas, and are often located in highly sought-after residential areas. This trend, which has already established itself internationally with brands such as Ritz-Carlton, Four Seasons and Armani, is attracting more and more investors looking for secure investments in the luxury market.
The project, led by their new joint venture Palya Invest, is a continuation of their previous collaboration within Mabel Capital, a company they shared with Manuel Campos until its dissolution earlier this year. Palya Invest plans to build around 50 beachfront homes in Estepona and a further 40 in Nagüeles, Marbella. Work is scheduled for completion between 2027 and 2028.
This partnership between Nadal and Matutes is not a first. Long-standing friends and partners, the two Balearic islanders have already collaborated on various business projects. Palya Invest marks a new stage in their collaboration, drawing on Matutes' hotel expertise and Nadal's worldwide reputation.
The name of their new company, Palya Invest, refers to their island origins, playing on the word ‘beach’ and the names of their respective businesses: Palladium for the Matutes family and Aspemir for Rafael Nadal.
In addition to their project on the Costa del Sol, Rafael Nadal has also teamed up with Meliá Hotels International to develop a new hotel brand, Zel, strengthening his presence in the luxury sector.
