Málaga City Council’s Urban Planning Department has given the go-ahead for the first phase of Térmica Beach, the luxury residential development promoted by Ginkgo Advisor and Aedas Homes.
This initial phase will comprise 173 homes, enabling simultaneous building work and urban development, with construction expected to commence in August 2024.
Located on the seafront of Playa de la Misericordia, along the Paseo Marítimo Antonio Banderas, the project is set to become one of Málaga’s most significant urban milestones, with prices starting at €755,000, according to this listing on idealista.
Project features
The overall Térmica Beach project plans to deliver 400 freehold homes and 273 affordable units on a plot spanning more than 11 hectares of developable land. The development will also feature a hotel, green spaces and extensive commercial areas.
The first residential phase will comprise an 11-storey building with 173 exclusive one- to four-bedroom seafront homes. Residents will enjoy premium communal facilities, including an infinity pool, solarium, gym, sauna and spa, coworking area, social club, landscaped gardens and children’s play areas.
With an estimated investment of €400–450 million, the project is expected to generate around 1,500 direct and indirect jobs during construction and 600 permanent positions once completed – a major boost for the local and regional economy.
The development, designed by François Leclercq Associés and T10 architect studios, will stand out for its avant-garde, sustainable design and panoramic views of the Mediterranean.
Boosting Málaga's premium offering
The developers report that 40% of the homes in the first phase – equivalent to 75 units – have already been sold in under a year. They highlight that most buyers are Spanish, particularly locals from Málaga itself.
“Térmica Beach is much more than just a collection of homes. The project represents a turning point for Málaga’s real estate sector and the entire Costa del Sol,” the developers explained. “On one hand, it is an urban regeneration initiative that will transform Málaga’s skyline by revitalising underused urban areas and completing the Antonio Banderas Promenade, which is also already under construction. On the other hand, it is a development of exclusive beachfront residences on what is fast becoming known as Málaga’s new ‘Golden Mile’.”