Bombay-born real estate investors, David and Simon Reuben, continue to bet on Spain’s property market with the acquisition of a 250-hectare (618-acre) parcel of land in an exclusive neighborhood one hour from Spain’s capital, Madrid.
Known as the San Juan reservoir, the area is located 70km from Madrid and is a popular destination for water sports and outdoor activities thanks to its beautiful landscape and a 14 km riverbed which resembles a beach. This property sub-market is a coveted luxury retreat for high net worth individuals and the lake is surrounded by villas and apartments with famous owners including Carlos Sainz and Zinedine Zidane.
The Reubens’ property is located in Canto Redondo in the town of San Martin de Valdeiglesias and has 2.5 kilometres of lake frontage and partial planning approval for 650 homes and a hotel with a total buildable area of around 147,000m2 .
The Reuben brothers also own properties in Spain’s Balearic islands, having purchased the Pacha Hotel in Ibiza as well as four large tracts of land in Mallorca (in Betlem, Cala Mesquida, Manacor and Cala Figuera) .
A Reuben Brothers spokesman has stated that the group is “confident that the Canto Redondo development will be another success to complement our portfolio whilst we continue to explore further opportunities in the Spanish market”.