For years, Torremolinos was known for package tourism and 70s apartment blocks rather than high-end residential living. That’s changing, and Magna is probably the clearest sign yet.
Backed by a €250 million investment from developer Grupo ABU, Magna is being described as the largest residential development in Spain in terms of business volume.
Location: five minutes from La Carihuela
Magna sits on Avenida Carlota Alessandri, Torremolinos, on a 12,688 m² plot with 40,000 m² of buildable area. Crucially, it’s around a five-minute walk to Carihuela Beach, one of Torremolinos’ most established and internationally known beaches.
In this part of the Costa del Sol, being able to walk to the beach rather than drive tends to hold value better over time.
You’re also close to Puerto Marina in Benalmádena and within easy reach of Málaga Airport, hospitals, shopping centres and year-round services.
Scale and design: 353 homes on a stepped, sea-facing plot
Magna will include 353 apartments, ranging from one to four bedrooms. The building adapts to the natural slope of the land, rising to a maximum of seven storeys (ground floor plus six), the legal height limit for the site.
The structure steps down gradually towards Avenida de España and Calle Puerto Real, which helps reduce the visual bulk and, more importantly for buyers, allows many units to enjoy sea and mountain views.
Most layouts follow the now-standard Costa del Sol formula: open-plan kitchen, living and dining areas leading directly onto generous terraces.
The emphasis is clearly on outdoor living and natural light rather than traditional compartmentalised interiors.
Prices: what €423,000 to €1.15 million buys you
Current prices range from €423,000 to €1.15 million.
- At the entry level, €423,000 buys a 70 m², one-bedroom, ground-floor, exterior-facing apartment with a parking space included.
- Two- and three-bedroom units range between €494,000 and €838,000, depending on size and floor height.
- At the top end, four-bedroom units and penthouses push towards the €1m-plus mark.
For context, that pricing places Magna well above traditional Torremolinos resale stock and nudges it closer to Marbella territory.
Resort-style facilities: beyond the usual pool and gym
Magna is set to include:
Several swimming pools Landscaped gardens forming a central recreational area Social club Gym and dedicated fitness room Spa Coworking space Cinema room | Pet care and hygiene area Bike and scooter parking with charging points Car wash and maintenance zone On-site supermarket Cafeteria 25 retail and restaurant premises integrated at street level Around 750 underground parking spaces |
It's edging towards a self-contained residential complex rather than a standard apartment block.
For remote workers, semi-retirees or part-time residents, having a coworking space, a café, and even a small supermarket on site reduces day-to-day friction.
The pet area is also worth noting. A surprising number of northern European buyers relocate to Spain with dogs, and practical facilities like that can be more useful than they first appear.
Penthouses: private pools, jacuzzis and chill-out zones
The penthouses sit at the top of the stepped structure and come with private solariums and pools. Some are also said to feature jacuzzis and dedicated chill-out areas, alongside panoramic views.
Planning and legal background
The development required a change of land use from hotel to residential. Under the agreement, the town hall will receive 15% of the profits generated, five points above the legal minimum. That financial alignment between developer and municipality tends to reduce the likelihood of sudden political resistance later on.
It’s also worth remembering that a previous 22-storey hotel project with a helipad collapsed on this same site after objections from the Junta de Andalucía and financial issues. The fact that Magna has progressed through formal channels is reassuring, but as with any off-plan purchase in Spain, due diligence remains essential.
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