• Spanish buyers invested more than $650 million in residential assets in the US in 2024, with Florida, and in particular Miami, being the main destination, accounting for more than 30% of the total volume.
• American investment in the Costa del Sol reached €3,200 million in 2024, with an increase of 34% from the US, consolidating Marbella as one of the world’s leading luxury real estate destinations.
• In 2025, Marbella leads the ranking of Spanish cities with the highest volume of luxury transactions, surpassing €5,000/m² on average and reaching 82% of international buyers in transactions of more than one million euros.
• The Delmore symbolizes the strategic connection between Marbella and Miami, two luxury capitals that share investors, lifestyles, and a growing network of international real estate interests.

MARBELLA, 28th July 2025 – In a move that strengthens ties between two of the most dynamic luxury markets in the world, DAMAC International, an Emirati developer specialised in ultra-luxury residential developments, introduced its new flagship project in the US to Marbella: The Delmore, a beachfront residential tower located in Surfside (Miami), designed by the prestigious Zaha Hadid Architects studio.

The event was held on 26th July at the Finca Ana María estate of the iconic Marbella Club Hotel, where some thirty high-net-worth investors gathered, including representatives of prominent Gulf families, senior executives from leading private banking institutions, acclaimed luxury hospitality entrepreneurs, family offices, wealth management firms, and funds specialising in real estate projects. The day symbolised a new stage in the capital relationship between Europe and America in the luxury real estate sector.

The event was co-sponsored by AURÉLIEN, a luxury experiences firm that creates personalised proposals for international clients. The brand complements DAMAC’s approach to services, which range from gastronomy to art, yachting, fashion, and wellbeing, aligned with the expectations of ultra-premium buyers.

“The choice of Marbella isn’t coincidental,” adds Pedro Román Martín, local entrepreneur and event host. “There is a natural symbiosis between Marbella and Miami: exceptional weather, state-of-the-art architecture, cosmopolitan surroundings, and an international clientele with an eye for excellence and exclusivity.”

“With The Delmore, we are introducing a new paradigm of luxury—one that has never been done before. This is a residence designed exclusively for the world’s most discerning few. It is only natural that Marbella, a destination synonymous with elegance and global affluence, would be home to some of our future residents. Marbella and Miami have long shared a deep affinity—two coastal enclaves where lifestyle, architecture, and international culture converge,” said Farid Moussallem, The Delmore, Surfside Miami.

THE DELMORE: ARCHITECTURE AND LUXURY IN SURFSIDE

The Delmore project marks DAMAC’s official entry into the US residential market. It includes a 12-story tower located in the exclusive “Billionaire’s Triangle” in Surfside, with 37 homes that range between 650 m² and more than 930 m², 3-meter ceilings, and a 3-car air-conditioned private garage with each residence, plus personal butler service.

Over 5,100 square meters of life-enhancing amenities from private dining to wellness sanctuary, direct access to 60 meters of private beach, and prices that start at $15 million. The interior design is led by Hirsch Bedner & Associates, and completion is scheduled for 2029.

SPANISH INVESTMENT IN THE UNITED STATES: A RISING TIDE

Spain has become one of the main sources of European real estate investment in the US. According to data from the National Association of Realtors (NAR), Spanish buyers invested more than $650 million in American residential assets in 2024, with Florida being the main destination, accounting for more than 30% of these investments.

Furthermore, reports from the consulting firm Transnational Homes and the Zillow portal show that the demand from European buyers, especially Spanish buyers, has multiplied in areas such as Miami-Dade, Fort Lauderdale, and West Palm Beach between 2022 and 2024.

US INVESTMENT IN MARBELLA AND MÁLAGA, AT AN ALL-TIME HIGH

On the flip side, US investors are raising their presence in the Costa del Sol with a total investment in the “Golden Triangle” – Marbella, Estepona, and Benahavís – exceeding €3,200 million in 2024, an increase of 20% from 2023. Capital from the US increased by 34%, consolidating the US as one of the most important source markets, behind only the UK and Germany.

According to Knight Frank (The Wealth Report 2025), Marbella is the Spanish city with the highest percentage of international buyers in the luxury sector, with 82% of transactions over one million euros made by foreigners, and with Americans now in the top five purchasing countries.

The arrival of DAMAC reinforces Marbella’s position as the European epicentre for the commercialisation of large international developments. During the summer months, the city attracts a large proportion of global investment in luxury real estate, thanks to its connectivity, reputation, and commercial ecosystem.

According to Idealista Data (2025), Marbella leads the ranking of Spanish cities with the highest volume of luxury residential transactions, and in 2025 has surpassed the average price of €5,000/m², with historic records in areas such as Sierra Blanca, La Zagaleta, and the Golden Mile.

ABOUT DAMAC INTERNATIONAL

DAMAC is one of the world’s leading real estate developers, headquartered in Dubai with iconic projects in the United Kingdom, Saudi Arabia, Lebanon, Jordan, and now the United States. It has delivered more than 44,000 luxury residential units and maintains an active portfolio with more than 35,000 houses under development. Its arrival in Miami symbolises a new era for the group.

La entrada DAMAC INTERNATIONAL ARRIVES IN MARBELLA PRESENTING ITS FLAGSHIP DEVELOPMENT ‘THE DELMORE’ IN MIAMI SURFSIDE se publicó primero en MN Comunicación.

Marbella, January 25th 2017: Since the ‘Brexit’ ruling after the June 2016 referendum, when the British public made the decision to leave the European Union, the Costa del Sol’s property market has been awash with uncertainty. Historically, the Costa del Sol has always benefitted from private investment from the United Kingdom.

However, renewed interest in the Andalusian coast from Scandinavian and Central European markets is dispelling the shadow of ‘Brexit’ on the real estate sector. This is reflected on a national level in the figures for the third trimester of 2016 from the Spanish Real Estate Statistics Records, as well as on a local level in terms of the luxury property sales at the Palo Alto development in Ojén.

According to the Statistics Records, foreign buyer numbers appear to have stabilised at a figure above 13%, which maintains a position as one of the all-time highs. Britons come top of this list, just as when the research began in 2006. However, the market accumulates three consecutive trimesters, losing traction in relative terms and giving rise to figures under 20%. In fact, the decrease between the second and third trimester of 2016 is especially marked, dropping from 19.73% to 17.66%, demonstrating a decrease of almost 2%.

French buyers, who increased by nearly 2%, come in second, with 8.91%. This significant growth renders them one of the most active nations, with their increase compensating in part for the reduced British demand. Germans (7.32%), Swiss (7.14%) and Belgians (6.2%) come third, fourth and fifth respectively in the rankings for buying a second home in Spain, strengthening their presence in the housing market and increasing their importance both in absolute and relative terms. These figures compensate for the decrease in British investment and maintain the sales figures to match up to those in previous years.

With 50% of its first phase sold, Palo Alto supports this trend on the Costa del Sol. According to their own buyer statistics; Germans and Belgians top the sales figures with 38% and 15% respectively. Norwegian, Italian, Dutch and Spanish buyers follow behind, all with a figure of 6%, while French constitute half of that, at 3%.

Accordingly, Sales Director Simon Boxus explains: “The crucial commitment by the developer and architects to quality of design and materials and the privileged environment, together with the recovery of the economy at both a national and international level means that Europeans view the Costa del Sol as an exceptional destination”.

“In these circumstances, destinations like Ojén, where we are developing the Palo Alto project, offer both physical and legal security”, he continues.  

“According to the figures deduced from both the luxury reservations and the marketing reports, the decrease in the British market is undeniable. However, German, French, Belgian, Italian, Dutch, Spanish and Norwegian buyers have found an answer to their demands for high-quality real estate in Palo Alto”, Boxus concludes.

More about Palo Alto

With 250 million euros investment, Round Hill Capital, a leading global property investment firm, is the developer in this project, designed by the prestigious, award-winning architecture studio Villarroel Torrico. Palo Alto is built on 50 hectares and offers a selection of spacious apartments, penthouses and villas in a low-density residential area.

Thanks to its cutting-edge contemporary architectural design, Palo Alto combines the best quality amenities to cater for the necessities of active modern life with the very best nature can offer. Nestled in the incomparable natural beauty of Ojén and only a few minutes away from bustling Marbella, Palo Alto impresses primarily for its location, which offers panoramic views of the mountain and sea.

www.paloaltomarbella.com 

Emma Williams

Web: www.marie-noelle.es

Email: eventos@marie-noelle.es

Móvil: (+34) 626 681 308

La entrada Scandinavian and Central European Markets Dispel the Shadow of ‘Brexit’ on the Costa del Sol’s Real Estate Sector se publicó primero en MN Comunicación.