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Malaga the new Silicon Valley of Spain: A promising destination for real estate investment
Malaga, the capital of the Costa del Sol, is emerging as a trendy spot for real estate investment due to the increase of international companies that have decided to establish themselves in the city. According to Giovanni Piero Montaldo, a real estate consultant specializing in the Malaga market, the city has experienced significant growth in recent years, driven by the expansion of international companies that are attracted to the city’s pleasant climate, rich cultural diversity, various entertainment options, and excellent cuisine.
In only four years, 72 international companies have chosen Malaga as their base, transforming it into Spain’s new Silicon Valley. In the last year alone, 27 foreign companies decided to settle in Malaga, generating 2,767 new jobs in the city, according to Investor’s Office data. These companies include both established companies relocating from other European or North American cities, as well as emerging startups that have chosen Malaga as their inaugural location.
According to Montaldo, the main reason for these companies’ decision is the balance between personal and professional life offered by the city, combining a pleasant climate, rich culture and cuisine, and a strong technological and innovative ecosystem. Malaga has attracted companies specializing in software development, consulting, finance, and telecommunications, mainly from the United States, followed by the United Kingdom and other European countries. This has made Malaga an attractive destination for international companies, resulting in its designation as the “Malaga Valley.”
Check out our article: Living in Malaga: The Heart of the Costa del Sol.
In addition to being a center of technological innovation, Malaga also offers an excellent quality of life and easy connectivity to the rest of Europe. The city has an international airport that offers regular flights to destinations around the world, making it convenient for foreign companies to settle in Malaga and for professionals to travel throughout Europe. Additionally, the city has excellent transportation infrastructure that allows for easy access to other European cities.
Don’t miss this article: Direct Air Connection between Malaga and New York.
Another key factor in the development of Malaga as a technological center is institutional support. Local and national authorities have worked together to create a business environment conducive to the technology sector. There are also several initiatives to support startups and accelerate their growth, including business incubators and accelerators.
In conclusion, the city of Malaga is experiencing a real estate boom driven by a highly attractive technology sector that has caught the attention of software development, consulting, finance, and telecommunications companies from the United States, United Kingdom, and other European countries. With a highly talented workforce and a thriving startup ecosystem, Malaga has already become an attraction center for technology companies, presenting a promising destination for real estate investment.
