Lamar Development Expands European Portfolio, Activating a €250M Residential Investment

With a Landmark Acquisition in Madrid, Casa Lamar Signals the Next Phase of Lamar Development’s Ambitious Strategy – Building on Its Success Across Spain

Lamar Development – the global real estate developer with over $6 billion in Gross Development Value (GDV) and headquartered in Dubai – is accelerating its European expansion with a dynamic €250 million investment pipeline targeting key property hotspots, Spain, Greece, and Portugal.

The ambitious growth plan follows Lamar Development’s impressive success in Spain to date. Its current portfolio extends 16 prime developments which have been successfully sold or are gearing up to launch. Most significantly, a record-breaking sale was achieved for a private villa sale, Villa Mashrabiya in El Madroñal I, in Marbella, reaching €10,800,000 – a powerful testament to Lamar Development’s market strength and the surging demand from UHNW global buyers seeking privacy, architectural design, and world-class locations.

 Lamar Development’s commitment to design has drawn collaborations with globally acclaimed architects including Marcio Kogan’s MK27, David Chipperfield, Jacobsen Arquitetura, Arthur Casas, Patricia Urquiola, and Junya Ishigami – raising the bar for residential design excellence globally.

In this next phase of European growth, the first acquisition within the developers committed €250 million investment, is Casa Lamar.  Representing one of Madrid’s most significant recent real estate transactions, the property spans 6,000 sqm of prime real estate and the former office building on the prestigious Calle Cedaceros 9 in Madrid, will be transformed into ultra-luxury residences. A first of its kind for Lamar Development.

Beyond Casa Lamar, Lamar Development will continue its ultra-luxury growth in the Spanish market, with investment in Marbella as well as new opportunities in the Spanish countryside. Further European markets in Lamar Development’s expansion plans include Greece and Portugal with more to be unveiled through 2026 and beyond.

Henri Hottinger, Partner of Lamar Development, commented: “As Spain emerges as one of Europe’s most compelling ultra-luxury property markets, we are making a decisive, long-term commitment to its key residential sectors. Our developments across 16 coveted sites – including Marbella’s acclaimed villas and now our Madrid property – reflect a bold, design-led vision for European living. We’re pleased with how our developments are performing and are actively building a large pipeline of new opportunities across the continent, which we look forward to sharing in due course.”  

Lamar Development’s expansion into mainland Europe builds on twelve years of success across the UAE and the wider MENA region. Highlights include Dubai’s most expensive townhouse sale at $47.6M in 2022, and Park Lamar – a David Chipperfield-designed “micro-community” in the coveted Dubai Canal district, uniquely positioned as the region’s first of its kind. The group is renowned for blending world-class design with deep local insight and strong market demand.

Rayyan Al Ajaji, Co-founder and Managing Partner of Lamar Development, commented: “We identified a clear opportunity to expand our model into Europe and saw strong alignment between market demand and our design-led approach. Marbella was a natural extension of the strategy we established in the UAE. With Casa Lamar in Madrid, we are scaling that model into a broader European context – targeting cities where design, lifestyle, and long-term value intersect.”

Abdullah Al Ajaji, Co-founder of Lamar Development, commented: “As we scale our presence across Europe, the focus is on building a resilient, high-performing portfolio that reflects both our long-term vision and disciplined investment strategy. This acquisition in Madrid is not only a statement of intent, but a benchmark for the projects we will continue to deliver. We remain committed to applying the same level of strategic oversight, design integrity, and operational excellence that has defined our growth to date.”

Lamar Development is a visionary real estate developer creating iconic living environments where bold ideas meet unexpected beauty. Guided by a philosophy that blends storytelling, architectural excellence, and community-building, Lamar Development’s projects are designed to transcend the ordinary and resonate on an emotional level. With a collaborative, design-led approach, Lamar Development partners with world-renowned architects and designers – including Marcio Kogan’s MK27, David Chipperfield, Jacobsen Arquitetura, Arthur Casas, Patricia Urquiola, and Junya Ishigami – to ensure every space is as functional as it is inspiring.