King Salman bin Abdulaziz and the Saudi Royal Family will build a 6 stars hotel and 1477 homes in Estepona, the land belong to the Saudi Royal family for many years.The name of the project is “SANCHEZ PRINCESS luxury residential complex” located in “El Paraiso Golf” Arroyo del Saladillo Estepona.
King Salman bin Abdulaziz, a frequent visitor to the Costa del Sol, got planning permission from Estepona Town Hall for the development.
The King originally applied for planning permission in 2008.
The Asturion Foundation, a Lichtenstein-based company linked to the Saudi royal family, has signed an agreement with David Valadez, the new Socialist mayor of Estepona, to build a luxury development on 590,000m2 of land in the municipality, to the west of Marbella, on the Costa del Sol.
In return, Estepona’s town hall will also get close to 50,000m2 of land for building social housing, and 8 million Euros in total for infrastructure projects and buying “Heritage Land”.
Valadez expects the building work to start in 2013-4 and provide employment for 1,000 people over the following years.The development, which will be built on land bought by Asturion Fondation in 1978.
The plan will now have to be approved by the Junta.
One of the secretive Liechtenstein trusts, the Asturion Foundation, has been used by late King Fahd for over 25 years to shelter his money abroad. It constitutes a legal entity that holds bank accounts of which he is the beneficiary; it also owns his worldwide property portfolio.
It is not known exactly how much money the foundation holds but among the assets registered in Britain under the foundation’s name is Kenstead Hall, a mock Tudor mansion in north London’s “Billionaire’s Row” – The Bishop’s Avenue in Hampstead.
The 6,000 Saudi royals form a privileged caste whose collective overseas funds are thought to amount to £400bn. The late King Fahd is believed to have personally acquired at least £20bn.
Two trusts – Asturion and Norista – control most of late King Fahd’s opulent foreign residences. Two of his sons – Mohammed, governor of the Eastern province, and Saud, the deputy chief of intelligence – are trustees. The Asturion portfolio includes some of the most desirable addresses in Europe.
Underneath you can see the plot of land streching from the 340 Coastal road to the El Paraiso Golf Course. 28 dwellings can be build per hectare (10.000m2).
Here you see 2 of their many Palaces on Marbella’s Golden mile.
Prince Salman bin Abdulaziz, Marbella Palace above underneath the late King Fahd Palace “El Rocio”
While six and seven-star hotels are relatively commonplace in Dubai, offering a mind-boggling level of service, this will be a first for Estepona; giving guests the chance to enjoy the experience of discovering how royalty feels.
Here you get an insight into a Palatial style Luxury Hotel from Jeddah
His royal status apart, Prince Salman is also Saudi Arabia’s Deputy Prime Minister and Minister of Defence, and started his political career at the tender age of 19, when his father, King Abdulaziz, appointed him Emir of Riyadh, where he gained a reputation as a man who disliked corruption. Now 77 years old and with many years of experience behind him, the Prince is said to be an experienced and skilful politician who enjoys cultivating close relationships with the world’s most influential journalists.
Internationally Prince Salman is also very active, despite having experienced a stroke that has permanently weakened his left arm but has not affected his stamina; in recent months he has visited President Obama and the UK’s Prime Minister, David Cameron, and pretty soon he will once again be turning his attention to this region as he focuses on development plans that will provide a boost for the town’s economy.
The Saudi council 2015
Custodian of the Two Holy Mosques,
King Salman bin Abdulaziz Al-Saud Deputy Prime Minister Minister of the Interior: Crown Prince Mohammad bin Naif bin Abdulaziz Al-Saud
Second Deputy Prime Minister
Minister of Defense:
Deputy Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud
Minister of the National Guard Prince Miteb bin Abdullah bin Abdulaziz Al-Saud
Minister of Education: Dr. Azzam bin Mohammed Al-Dakhil
Minister of Municipal and Rural Affairs: Abdullatif bin Abdulmalik bin Omar Al-AsShaikh Minister of Foreign Affairs: Adel bin Ahmed Al-Jubeir
Minister of Agriculture
Abdulrahman bin Abdulmohsen Al-Fadhli
Minister of Water and Electricity:
Abdullah bin Abdulrahman Al-Husein
Minister of Civil Service:
Khalid bin Abdullah Al-Araj
Minister of Finance: Dr. Ibrahim bin Abdulaziz Al-Assaf
Minister of Health:
Khaled bin Abdulaziz Al-Falih
chief executive officer of Saudi Aramco.
Minister of Commerce and Industry: Dr. Tawfiq Al-Rabiah
Minister of Culture and Information:
Dr. Adel bin Zaid Al-Turaifi
Minister of Islamic Affairs, Endowments, Call and Guidance: Sheikh Saleh Bin Abdulaziz Al-AsShaikh
Minister of Justice:
Dr. Walid bin Mohammad bin Saleh Al-Samaani
Minister of Labor: Dr. Mufrej bin Saad Al-Haqbani
Minister of Social Affairs:
Dr. Majed bin Abdullah Al-Qasabi
Minister of Petroleum and Mineral Resources: Ali bin Ibrahim Al-Naimi
Minister of Hajj: Dr. Bandar bin Mohammed Al-Hajjar
Minister of National Economy and Planning:
Adel bin Mohammed Fakeih
Minister of Communications and Information Technology: Dr. Mohammed bin Ibrahim Al-Suwaiyel
Minister of Transport: Abdullah bin Abdulrahman Al-Muqbel
Minister of Housing: Majed bin Abdullah bin Hamad Al-Hogail
MINISTERS OF STATE:
HRH Prince Abdulaziz bin Abdullah bin Abdulaziz
Dr. Muttlab bin Abdullah Al-Nafissa
Dr. Dr. Mosaad Mohammed Al-Aiban
Mr. Mohammed bin Faisal bin Jaber Abusaq (for Shura Affairs)
Dr. Nizar Obeid Madani (for Foreign Affairs)
Mr. Mohammed bin Abdul Malik bin Abdullah Al-AshSheikh