Mauricio Mesa is one of those born-and-raised Malagueños. Although much of his professional career has taken him beyond the province and even outside Spain, he first opened his eyes at Clínica Gálvez, in the heart of the city. Fate has brought him back to Málaga, where he is leading the expansion of the developer Cordia on the Costa del Sol. With a strong presence in Romania, Germany, and Hungary, among other countries, Cordia is beginning to gain strength in Spain.

What is the origin of Cordia?

It is part of Futureal Group, which has Hungarian origins and over 25 years of experience in the real estate market. It operates in various business sectors and is present in different countries: Hungary, Poland, Romania, Germany, Spain, and the UK. The group’s latest valuation was around €6 billion, and last year, the group delivered more than 2,000 apartments across different markets. To put it in perspective, we could compare it to a group like Neinor in Spain.

So, we are talking about a financially strong group.

Yes, the group is in a very solid financial position. Cordia has been in Spain since 2019, with its first project, Jade Tower in Fuengirola, which consists of 116 units.

In recent months, Cordia has gained significant recognition due to the awards received for Jade Tower. What makes this project so special?

It is a highly ambitious project. Fuengirola, I believe, is the heart of the Costa del Sol in terms of location, with Marbella 20–25 minutes away and Málaga capital another 20–25 minutes in the opposite direction. Given the scarcity of land in Fuengirola and the lack of similar developments, we aimed for a high-end project with superior quality and premium amenities. Above all, we committed to sustainability, which has been recognized internationally with several awards. We are very proud and pleased that our first project in Spain has been so well received.

Of the 116 homes, how many are still available? And at what price?

Very few. Only 10 remain for sale. Since these are the last available units, they are usually priced higher than the first ones. Currently, the cheapest one is around €700,000.

Fuengirola was Cordia’s first step on the Costa del Sol. Do you already have another project in mind?

Our next project, which we are preparing to launch very soon—by the end of March or early April—is in Mijas. It is a spectacular project for many reasons, including the fact that we want to maintain similar quality standards to Jade Tower. Additionally, we aim to incorporate a highly innovative feature.

“Soon, we will launch a project with 600 homes in Mijas. It is a spectacular development. We want it to include a water recycling system within the community itself.”

This system will collect wastewater from the development—both greywater and blackwater—process it through a treatment plant, and pass it through a cycle similar to the natural water purification process. The water will reach wetlands with plants and frogs that will ultimately clean it, making it suitable for irrigating green areas.

This is an innovative concept of particular importance given the challenges we face on the Costa del Sol, where the population is increasing, but reservoirs remain the same, and rainfall is decreasing. We are currently working to incorporate this system into the project, navigating the legislative and administrative hurdles. There is no existing law regulating such initiatives. A recent Royal Decree has allowed the use of recycled water in private areas, but there is no regulatory framework for its implementation. While all government entities support the idea, executing it is complex.

What details can you share about this project?

It will consist of 600 units, with an initial phase of 71 homes. It will be located very close to Fuengirola, with access to both the AP-7 and A-7 highways, and will include numerous amenities. There will be a coworking space, a children’s play area, a gastrobar, and more.

What investment are you considering?

That’s the million-dollar question. The reality is that construction costs have risen drastically, and there is a severe labor shortage. This has resulted in a dramatic increase in building costs. We are finalizing the project’s cost estimate. Predicting price trends is challenging because we are talking about 600 units to be developed in different phases.

When do you expect construction to begin?

Most likely, by this summer. It will be a high-quality product. Given the increased construction and production costs, these will not be affordable homes. The primary target audience is foreign buyers. Unfortunately, the purchasing power of Spanish buyers is currently more limited.

If Mijas is the next step, what comes after?

We have another project in Marbella, in a beautiful area near La Cañada. It will feature 165 units with extensive green spaces on a 110,000-square-meter plot. We want it to be a development focused on wellness and overall well-being. The entire concept, including the urban planning, is designed to enhance physical and mental comfort.

Is Málaga capital in Cordia’s plans?

Yes, but land availability in Málaga is extremely limited. We are actively searching for land, but so far, we haven’t found the right opportunity in terms of location and price.

Are you from Málaga?

Yes, I was born in Málaga, at Clínica Gálvez.

Has your professional career been based here, or mostly abroad?

Most of my career has been spent abroad. My role has been to identify business opportunities and manage the entire development cycle.

With your international experience, how do you view Málaga’s growth?

Having spent so much time abroad, I realize how incredible our country is, although we often don’t fully appreciate it. Traveling makes me see the immense value we have here. Within Spain, Málaga and the Costa del Sol are a true paradise—offering climate, gastronomy, infrastructure, and connectivity.

“When I travel, I realize the incredible wealth we have, but we often fail to appreciate it. Within Spain, Málaga and the Costa del Sol are a paradise.”

But we must be cautious not to collapse under our own success. There is no strategic plan for a region that is effectively a 100-kilometer-long city. We cannot think of Málaga, Fuengirola, or Torremolinos in isolation—they must be considered as one integrated metropolitan area.

More people are moving here, but infrastructure—roads, public services—remains the same. Authorities must address this as a strategic priority. Whether through removing highway tolls or improving rail connectivity, something must be done. Time is passing, and no significant improvements have been made. If this issue is not addressed, we could reach a point—perhaps we are already there—where we suffer the consequences of excessive success.

Do you see this as the biggest challenge for the region?

The biggest challenge is resource availability—water, electricity, infrastructure. Roads, and above all, trains. Expanding roads only increases traffic; we need better public transportation. A rail system is essential for the population growth in this area.

“Before, there were no American buyers. Now, they are here. This brings new residents. I don’t see this trend slowing down—on the contrary, it’s accelerating.”

How would you characterize the current condition of the real estate market?

The key question is how much longer prices will rise. In Madrid, sales have slowed because prices are unaffordable. I don’t see this happening yet on the Costa del Sol, but we are approaching that point. A slowdown in transaction volume and closing rates is a real risk.

Source: El Español: «Hay que estar atentos para no morir de éxito; a Málaga cada vez viene más gente a vivir, pero los recursos son los mismos»