Last updated: November 2025
Europe’s most exclusive residential estate sits in the hills above Benahavís, 15 minutes from Marbella. La Zagaleta spans 900 hectares of protected countryside, home to approximately 250 villas priced between €3.5 million and €34 million. In December 2024, Abu Dhabi’s Modon Holding acquired 100% of La Zagaleta S.L., signalling continued investment in what remains the continent’s premier gated community for ultra-high-net-worth buyers.
This guide covers what prospective buyers actually need to know: current pricing, the often-misunderstood membership structure, true annual ownership costs, and how La Zagaleta compares to alternatives like Sierra Blanca and El Madroñal. Property ownership here is straightforward. Understanding the total cost of entry requires more careful analysis.
Contents
- What makes La Zagaleta Europe’s most exclusive residential community?
- How much do properties cost in La Zagaleta?
- What are the membership options and fees?
- What amenities does La Zagaleta offer residents?
- How does security and privacy work?
- What are the annual ownership costs?
- Who owns La Zagaleta now?
- What future developments are planned?
- How does La Zagaleta compare to Sierra Blanca and other alternatives?
- What should buyers know before purchasing?
What makes La Zagaleta Europe’s most exclusive residential community?
La Zagaleta operates on a model that prioritises space and privacy over density. The estate’s 900 hectares contain just 420 approved plots, of which approximately 250 have been developed. This translates to a building density of roughly 32%, with the remainder preserved as natural landscape, golf courses, and communal grounds.
The average plot measures 6,145 square metres, supporting villas with an average living area of 1,259 square metres. Minimum plot size is 3,000 square metres, though many exceed 10,000 square metres, and some merged plots reach 15,000 square metres. The estate does not permit apartment blocks or townhouses. Only one small complex exists: El Parador, containing seven apartments.
La Zagaleta’s origins explain its character. Saudi businessman Adnan Khashoggi originally owned the land as a private hunting estate called La Baraka. Spanish developer Enrique Pérez Flores transformed it into a residential community beginning in 1991, with the first clubhouse opening in 1994. The development philosophy from inception has been low density, high specification, and absolute discretion.
Geographic position reinforces the exclusivity. The estate occupies elevated terrain between 300 and 500 metres above sea level, with views stretching to Gibraltar, the North African coast on clear days, and the Mediterranean. The nearest beach (Cortijo Blanco) is 11 kilometres away. Puerto Banús sits 13 kilometres distant, and Marbella centre approximately 15 to 20 kilometres depending on route. Málaga Airport is a 40-minute drive via the AP-7.
How much do properties cost in La Zagaleta?
Current asking prices range from approximately €3.5 million for older, renovation-candidate properties to €34 million for the most prestigious new-build estates. The average asking price across all listings sits between €7.9 million and €9.75 million, depending on the data source and timing.
La Zagaleta Price Breakdown by Property Type
| Property Category | Price Range | Price per m² | Notes |
| Older villas (pre-2010) | €3.5M–€6M | €4,000–€6,000 | Often require renovation |
| Mid-market contemporary | €6M–€12M | €6,000–€10,000 | 2010–2020 construction |
| Premium new-builds | €12M–€20M | €12,000–€16,000 | Modern specifications |
| Trophy estates | €20M–€34M+ | €15,000+ | Prime plots, exceptional finishes |
| Land only (premium plots) | €2M–€18M | €10,000+ per m² | Varies significantly by sector |
Recent transactions demonstrate sustained demand at the top end. Villa Cullinan sold for €32 million in 2021, setting a then-record for the estate. In June 2024, a single plot sold for €18 million, indicating continued appetite for prime land. Market data from early 2024 showed demand up 19% year-on-year, with prices stable at approximately 0.5% annual growth.
The estate is divided into ten sectors (A1, A2, B, C1, C2, D, E, F1, F2, G, H, I, J), each with distinct characteristics and pricing. Premium sectors with optimal views and privacy command significant premiums over less favoured positions.
What are the membership options and fees?
Property ownership in La Zagaleta does not automatically confer club membership. This distinction trips up many prospective buyers. Membership is separate, optional, and required only if you wish to access the estate’s sporting facilities.
La Zagaleta Membership Structure
| Membership Type | Joining Fee | Annual Fee | Access Included |
| Owner Membership | €90,000–€100,000 | €11,000 | Golf, equestrian, tennis, clubhouses, restaurants |
| First family member | Included | €3,500 | Full sporting access |
| Additional family members | Included | €750 each | Full sporting access |
| Social Membership | None | €6,000 | Clubhouses and restaurants only |
| Welcome Membership | None | Varies | 3-month trial period |
The Owner Membership annual fee includes a €1,000 credit applicable at estate restaurants. For a family of four with full sporting membership, expect joining costs of €90,000 to €100,000 plus approximately €16,000 annually in membership fees.
Non-residents may apply for membership on a limited basis, but priority goes to property owners. Social Membership offers a lower-commitment option for owners who want access to the clubhouses and restaurants without sporting facilities.
What amenities does La Zagaleta offer residents?
La Zagaleta functions as a self-contained private resort. The amenities match the residential offering in scope and quality.
Golf Facilities
Two 18-hole courses cover parkland-style terrain. The Old Course, designed by Bradford Benz, opened with the estate in 1991 and was redesigned in 2016. The New Course, Los Barrancos, opened in 2005 and was designed by Steve Marnoch. Both courses are exclusively available to members; there is no public or guest play.
Clubhouse and Dining
Two clubhouses serve residents and members. The Old Clubhouse, spanning 5,000 square metres, operates as the primary social hub with fine dining, an organic food shop, and the main pro shop. The New Clubhouse offers more casual dining with views over Los Barrancos.
Equestrian Centre
The estate maintains stables for 20 horses with four riding trails, each approximately 7 kilometres. Facilities support show jumping and dressage.
Other Sporting Facilities
One clay tennis court, one hard court, and one paddle court complete the sporting offer.
Private Helipad
La Zagaleta operates a private helipad for resident arrivals, reducing Málaga Airport connection time considerably for those who prefer to skip the road transfer.
Concierge Services
Full concierge service manages everything from property maintenance coordination to restaurant reservations and travel arrangements.
How does security and privacy work?
La Zagaleta’s security model is comprehensive and forms a core part of the value proposition.
Security Infrastructure
| Feature | Specification |
| Entry points | 2 (North and South gates) |
| Access control | Invitation and ID verification required |
| Perimeter | Fully fenced, 900 hectares |
| Monitoring | CCTV coverage along 50km internal road network |
| Patrols | 24/7, 365 days per year |
| Staff protocols | Strict confidentiality regarding residents |
Entry to La Zagaleta requires advance authorisation. Visitors must be pre-registered by residents, with ID verification at the gate. There is no casual access for sightseeing or uninvited prospective buyers.
Staff operating within the estate, from security personnel to maintenance workers, observe strict confidentiality protocols. The estate employs approximately 200 permanent staff, with up to 2,000 additional workers accessing the site daily for construction, landscaping, and household services.
Background checks are conducted on prospective purchasers. The estate maintains discretion about the specific criteria, but the intention is to preserve the character and privacy of the community.
What are the annual ownership costs?
Total annual costs exceed what many buyers initially expect. Budget realistically based on the following components.
La Zagaleta Annual Ownership Cost Structure
| Cost Category | Typical Annual Amount | Notes |
| Property maintenance | ~€70,000 | Gardens, pools, building upkeep |
| Community fee | ~€5,000 | Estate infrastructure and services |
| Owner Membership (optional) | €11,000+ | Required for sporting facilities |
| Property tax (IBI) | Varies by valuation | La Zagaleta collectively pays ~€4M to Benahavís |
| Utilities | €15,000–€30,000 | Depends on property size and usage |
| Insurance | €10,000–€20,000 | High-value contents and structures |
Minimum realistic annual budget: €75,000–€100,000 before mortgage costs, if applicable. Properties at the upper end of the price range typically run €150,000 to €200,000 annually when fully maintained and staffed.
Most purchases at La Zagaleta are cash-based. Spanish mortgage availability exists but is uncommon for this buyer profile.
Who owns La Zagaleta now?
Abu Dhabi-based Modon Holding P.S.C. completed its acquisition of 100% of La Zagaleta S.L. on 19 December 2024. The transaction marked Modon Holding’s entry into the European luxury real estate market.
Modon Holding is a diversified holding company with substantial real estate, hospitality, and events businesses. Its acquisition portfolio in 2024 also included the Business Design Centre in London and an appointment as master developer for the Ras El Hekma megaproject in Egypt.
The company has stated its intention to preserve La Zagaleta’s exclusivity and legacy while accelerating remaining development. The acquisition includes approximately 2.7 million square metres of land within La Zagaleta, plus the Majarambuz development (historically known as Valderrama II) near Sotogrande, comprising an additional 2.2 million square metres.
For existing and prospective owners, Modon’s involvement signals capital availability for infrastructure investment and a commitment to maintaining the estate’s positioning.
What future developments are planned?
Hotel and Branded Residences
La Zagaleta has long held a plot designated for hotel development. Under Modon ownership, negotiations continue with luxury hotel operators including Mandarin Oriental, Six Senses, and Four Seasons. The proposed development includes 60 hotel rooms and 66 branded residences on a 110,000 square metre plot.
Construction was expected to begin in late 2024 or 2025, though timelines remain subject to finalising operator agreements.
Remaining Villa Plots
Approximately 100 plots remain available for development within La Zagaleta. Given current absorption rates and the estate’s deliberate pace, complete build-out will extend over many years. This controlled supply supports price stability.
Majarambuz (Valderrama II)
The acquisition by Modon Holding included the Majarambuz development adjacent to Sotogrande. This separate project features a Tom Doak-designed golf course and residential community limited to 300 members. The development is progressing through urbanisation phases but remains distinct from La Zagaleta proper.
How does La Zagaleta compare to Sierra Blanca and other alternatives?
Buyers considering La Zagaleta typically evaluate several alternative communities. Each offers distinct trade-offs between privacy, convenience, and cost.
Marbella Area Luxury Community Comparison
| Factor | La Zagaleta | Sierra Blanca | Cascada de Camojón | El Madroñal |
| Entry price | €3.5M+ | €3M+ | €4M+ | €2M+ |
| Average price | ~€9.75M | ~€8M | ~€6M | ~€4M |
| Price ceiling | €34M+ | €20M | €15M | €12M |
| Average plot size | 6,145m² | ~3,000m² | ~2,500m² | ~4,000m² |
| Total estate area | 900 hectares | ~50 hectares | ~30 hectares | ~200 hectares |
| On-site golf | 2 private courses | No | No | No |
| Helipad | Yes | No | No | No |
| 24/7 gated security | Yes (2 entrances) | Yes | Yes | Partial |
| Distance to beach | 11km | 6km | 5km | 8km |
| Distance to Puerto Banús | 13km | 5km | 4km | 10km |
| Annual community costs | €75,000+ | €15,000–€25,000 | €10,000–€15,000 | €8,000–€12,000 |
La Zagaleta suits buyers who prioritise space, privacy, and on-site amenities over beach proximity. The trade-off is distance from the coast and significantly higher annual running costs.
Sierra Blanca offers comparable prestige with better proximity to Marbella’s Golden Mile and beaches. Properties are typically closer together with smaller plots.
Cascada de Camojón and El Madroñal provide gated security and mountain settings at lower price points, though without the scale or amenity depth of La Zagaleta.
For buyers comparing La Zagaleta to Monaco, the proposition differs fundamentally. Monaco offers urban density, zero income tax, and maritime access. La Zagaleta offers rural privacy, 900 hectares of nature, and private golf, but within Spanish tax jurisdiction. La Zagaleta’s entry price represents a fraction of Monaco equivalents.
What should buyers know before purchasing?
Due Diligence Essentials
- Membership is separate from ownership. Budget €90,000 to €100,000 joining fee plus €11,000+ annually if you want sporting facility access.
- Annual costs exceed initial expectations. €75,000 to €100,000 minimum for a modest property, substantially more for larger estates.
- Sector selection matters. The ten sectors have meaningfully different characteristics, views, and values. Site visits at different times of day are essential.
- Background checks apply. The estate conducts due diligence on purchasers. Cash purchases dominate.
- Access requires authorisation. You cannot casually visit La Zagaleta. Arrange viewings through authorised channels only.
- Renovation candidates exist. Properties built in the 1990s and early 2000s may require significant updating. Factor €1,000 to €2,000 per square metre for comprehensive renovation.
Tax Considerations
La Zagaleta sits within Spanish tax jurisdiction. Non-resident buyers face wealth tax on Spanish assets, capital gains tax on disposal, and annual property tax (IBI). Spanish tax residency triggers global taxation. Professional tax advice is essential before purchase.
Investment Outlook
Demand increased 19% year-on-year in early 2024, with prices stable. Limited remaining supply (approximately 100 plots) supports long-term value. The Modon Holding acquisition and planned hotel development should maintain or enhance the estate’s positioning.
The primary investment thesis is scarcity: there is only one La Zagaleta, and it cannot be replicated elsewhere.
Key Takeaways
La Zagaleta remains Europe’s most exclusive gated residential community, offering 900 hectares of private countryside, two championship golf courses, and security infrastructure unmatched on the continent. Prices currently range from €3.5 million to €34 million, with the average around €9.75 million.
Modon Holding’s December 2024 acquisition signals continued investment in the estate’s infrastructure and positioning. Planned hotel development with a luxury operator would add amenity depth without compromising the residential character.
Prospective buyers should budget €75,000 to €100,000 annually in running costs minimum, understand that club membership is separate from property ownership, and expect thorough vetting during the purchase process. For those who value privacy, space, and self-contained resort living over beachfront convenience, La Zagaleta has no genuine European equivalent.
For exclusive access to Marbella’s most exceptional luxury properties and comprehensive market insight, contact our specialized advisory team at marbella@blackprive.com
About the Author
Alexander Thornbury MRICS analyses European luxury property markets for UHNWI buyers and family offices. With 15 years advising UHNWI clients at leading international property consultancies, he specialises in cross-border transactions and tax-efficient property structuring. Alexander holds MRICS accreditation and contributes market intelligence to Black Privé’s research library.
His analysis is for informational purposes only and does not constitute investment advice.
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References and Methodology
Data compiled from official La Zagaleta sources (lazagaleta.com), Modon Holding press releases (December 2024), market reports from established property consultancies, and verified transaction records. Price data reflects 2024–2025 market conditions. Annual cost estimates based on industry averages for properties of this specification level. Tax information is general guidance only; professional advice is essential for individual circumstances.