European affluent individuals are purchasing apartments priced at four million euros adjacent to La Térmica

Sierra Blanca Estates completes the structure of its 20-story tower and achieves an 80% sales rate to both domestic and international entrepreneurs.

MALAGA. The spearhead of the urban transformation set to unfold in the coming years on the western coastal tip of Malaga, between the headquarters of the Provincial Council and the mouth of the Guadalhorce River, is the Torre del Río project. Dominated by three twenty-story towers, designed by the Madrid-based architect Carlos Lame- la, it will signify a significant change in the urban landscape of this area of the city. Of these three towers, the structure of two has already been completed: the one situated further to the east, developed by Metrovacesa, and the central one, undertaken by the real estate company Sierra Blanca Estates, with capacity for 71 residences.


This Marbella-based developer, led by Pedro Rodríguez, marked a significant milestone this Friday with the installation of flags on its rooftop, signifying the completion of the floor slabs in a project being carried out by the construction firm Sacyr and set to conclude by mid-next year. This construction stands at approximately eighty meters tall, with Sierra Blanca investing around eighty million euros in the development of this luxury residential product.

As reported by this newspaper on November 3rd, a Czech entrepreneur has purchased the entire 18th floor for eight million euros, intending to create two residences, and a Swiss businessman has just bought one of the apartments on the 19th floor for four million euros. Andrés Piñol, Sierra Blanca’s financial director, explained to SUR that the sales with contracts already exceed 80%, with half of the buyers being high-level entrepreneurs from European countries planning to establish their residence in Malaga and potentially open branches of their companies in the city.

Quality of life “We’re talking about very strong companies and individuals who are still active and have asked us to help them find space to establish their business headquarters here,” said Piñol, noting that there are buyers from Poland, the Netherlands, France, and Switzerland whose fortunes are linked to technology, healthcare, banking, or engineering. “What they’re looking for is quality of life. They want to settle down and run their companies from here, traveling to their countries perhaps every 15 or 30 days,” commented this Sierra Blanca executive, who also mentioned that there are national buyers from Madrid, Bilbao, and Malaga itself.

Currently, residences between floors 14 and 16 are still available, priced between 1.8 and three million euros. Sierra Blanca has not yet put the two penthouses on the 20th floor up for sale; these will be connected to the roof terrace, where there will be a swimming pool and a dining area. Guests at the flag installation event were able to appreciate the impressive views from that height, with banners displaying the developer’s support for Malaga’s candidacy for the 2027 international exposition.

“The penthouses are the crown jewel, and we prefer to sell them when they’re fully built,” noted Carlos Rodríguez, who heads the developer alongside his father. “From the outset, we said that this project transcends the Malaga coastline. It’s something spectacular that is enhancing the entire coastal façade of Malaga, and it has influenced interest in undertaking major projects in the city,” emphasized Pedro Rodríguez.


Meanwhile, the architect Carlos Lamela has expressed his “satisfaction” at progressing with the construction of the tower and has offered some words of remembrance for his father, Antonio Lamela, who was the architect behind the Playamar buildings in Torremolinos. “Today is a very emotional day. We are facing the most important project along the entire Spanish coastline,” he declared.

The residences in Sierra Blanca’s tower start from the third floor because the ground, first, and second floors have been reserved for a gym, a playroom, a social lounge, workspaces, and a space intended for a shop or restaurant. Alongside this construction, work has already begun on the third of the towers, undertaken by Metrovacesa, to accommodate 73 residences. It shares a similar design to the two towers already erected, also designed by the Lamela studio, which has been entrusted by the regional government with designing the third hospital for Malaga.

× How can I help you? Available on SundayMondayTuesdayWednesdayThursdayFridaySaturday