Marbella Town Council approves the Quartiers proposal to modify the local plan of the Centro Forestal Sueco properties

As announced in a press release on 29 May this year, Quartiers Properties AB (publ) ("Quartiers" or the "Company") has proposed an amendment to the current detailed plan for Centro Forestal Sueco. The proposal, which was developed in consultation with the Town Council and subsequently incorporated into the Town Council's Master Plan for the area, has now been unanimously approved by the Marbella Town Council. The decision significantly increases the likelihood that Quartiers will be granted 20,000 square metres of new building rights on its Marbella properties, as previously communicated.

The company intends to increase its focus on hotel properties with additional rooms and restaurants at the existing Boho Club and a brand new hotel on the neighbouring site.

The next step in the process is to obtain approval from the regional Department of the Environment.

This decision does not change the company's previous plan to obtain the building rights within 1-2 years. It is expected that the value of the property will increase by approximately SEK 860 million once the building rights have been granted, which would mean an increase in the company's net asset value of approximately SEK 15 per ordinary share.

The decision is also positive for the company's plan to pay out accumulated dividends on the company's preference shares, which is to take place when the new building rights come into effect.

"We are very happy and grateful for the support we have received from the Marbella Town Council and the work they are doing to develop Marbella. We both share the same vision of developing our properties and the surrounding area. Within walking distance of our properties are internationally renowned luxury developments such as EPIC Marbella by Fendi Casa, UNO Beach Residences and the Benalús apartment project. More hotel rooms and restaurants of the highest quality fit in well with the development of the area," says Marcus Johansson Prakt, CEO of Quartiers.

Quartiers Properties AB (publ) is required to disclose this information under the EU Market Abuse Regulation. This information was provided for publication through the agency of the contact person above at 9.00 a.m. on 23 August 2023.

Please address questions to:

Quartiers Properties

Marcus Johansson Prakt, Chief Executive Officer
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 59 98

The company in brief
Quartiers Properties is a Swedish property development company with a focus on excellent design and quality, and is active on the Spanish Costa del Sol. The company was founded in 2014, since when it has built up a portfolio of investment properties and project properties. The company develops, sells and rents out properties.

Quartiers Properties owns and manages Boho Club, which is a boutique resort in Marbella’s Golden Mile district with a restaurant and 40 hotel rooms. The project has won awards for its design and architecture, and since its launch in 2019, both the hotel and the restaurant have established themselves as leading venues in Marbella. Visit Boho Club website www.bohoclub.com to book a hotel room or reserve a table at the restaurant. The restaurant is open daily, serving breakfast, lunch and dinner.

Quartiers Marbella Apartments is an apartment complex in Benahavís, the neighbouring municipality to Marbella, where Quartiers runs apartment rental operations. The apartments are ideal for short- and long-term accommodation and are popular among families, as well as groups visiting Marbella for leisure purposes, fitness holidays or to play golf. Visit our website www.quartiersmarbella.com to book your apartment.

Hacienda Collection is an apartment project in Benahavís just outside Marbella, where Quartiers Properties is selling apartments that are ready for immediate occupancy. The apartments are located in a gated community featuring wonderful views of the Mediterranean. These apartments feature a large, open floorplan with big windows, high-end kitchen, separate laundry room and 2–3 bedrooms. The spacious terraces offer plenty of scope for spending time with family and friends. Visit the website for additional information and to book an online or in-person viewing:  www.haciendacollection.es.

Mangold is the company’s Certified Adviser. Mangold can be contacted on +46 (0)8 503 015 50 or by emailing ca@mangold.se.