Boho Group reaches important milestone – approval from Marbella municipality for urban development proposal.
Boho Group AB (publ) is proud to announce that the Marbella municipality has granted approval of the company’s proposal for an exemption from the current general plan, enabling the development of a hotel project on Marbella’s iconic Golden Mile. This approval clears the way for the creation of 28,400 square meters of hotel space and marks the first exemption of its kind granted to a hotel project in the municipality. According to previously communicated information, the Board of Directors estimates that the building rights, when they come into effect, will add a value of SEK 15 per ordinary share.
The approval means that the detailed planning for Boho Group's land can be carried out separately from the overall urban planning and in accordance with the company's vision and wishes. This enables the development of the area with an expanded hotel offering and reflects the municipality's strong confidence in the quality of the project and its social benefits.
The proposal will soon be published on the municipality's website for a thirty-day review period. During this period, the public can submit comments that may lead to adjustments.
“This is a milestone we have been working towards for a long time and a very important step in the process,” says Andreas Bonnier, CEO of Boho Group. ”We have had a clear vision from the start and have put in a lot of work, both strategically and in close dialogue with the municipality. Receiving this approval is both rewarding and exciting as we take the next steps in Boho Club’s development.