Mala Kai
Project lifecycle
Mala Kai, in context.
Mãla Kai borrows the Hawaiian for sea garden and the name holds up on the western flank of Estepona, a town that plants more than a million flowers a year. The resort runs to 70 apartments of one, two and three bedrooms across seven low blocks near Arroyo Vaquero, on the Bahía Dorada stretch of coast.
What is offered here is the three-bedroom tier: seventeen homes of 144 to 147 m² with two bathrooms, priced between €725,000 and €755,000. Thirteen have sold.
The blocks were laid out to follow the Mediterranean light from morning through to evening, so the living space and its terrace stay bright for most of the day and the better-placed homes look out over the sea itself. Ground-floor apartments have private gardens, the upper floors deep terraces or roof terraces.
Each home comes with basement parking and a storeroom generous enough to swallow bicycles, paddleboards and diving kit without argument. The shared grounds hold an overflow pool with submerged loungers, changing rooms, a gym, a yoga area and lawns to walk.
Completion fell between December 2025 and February 2026. These are finished homes with keys attached rather than a render and a delivery date, which is a rarer thing on this coast than it sounds.
Key facts
The 4 remaining apartments
Each one specified individually. Pricing released on enquiry.
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| Unit | Block | Floor | Beds | Baths | Interior | Outside | Garage | |
|---|---|---|---|---|---|---|---|---|
| B5-2A | 5 | 2 | 3 | 2 | 146 m² | 177 m² terrace | 2 + storage | |
| B2-2B | 2 | 2 | 3 | 2 | 147 m² | 163 m² terrace | 2 + storage | |
| B3-2A | 3 | 2 | 3 | 2 | 144 m² | 171 m² terrace | 2 + storage | |
| B4-2A | 4 | 2 | 3 | 2 | 144 m² | 171 m² terrace | 2 + storage |
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4 of 17 apartments remain
Live data refreshed nightly from our multiple independent sources.
The off-plan discount, stage by stage
Off-plan entry typically offers the largest pricing headroom at the earliest stages. The advantage narrows as construction progresses — at completion the unit is priced at market. Mala Kai currently sits in the Completed band.
Mãla Kai is past the risky part. The building is done, the delivery window of December 2025 to February 2026 has arrived and what remains is four three-bedroom homes out of seventeen, with thirteen already committed. Buyers can walk the actual apartment, judge the light and the sea view for themselves and complete without a staged payment schedule hanging over them. On price, expect roughly €4,930 to €5,240 per m², above the Bahía Dorada resale median of €3,502 and in line with the €4,803 new-build average for the area. Resale stock here sits around 222 days on the market, which tends to work in a cash-ready buyer's favour when choice narrows to four.
Why buyers reserve at this stage
Personalisation window
Reserving during the Completed phase gives buyers genuine input into layout, finishes and basement use ahead of handover, a window that closes as the build advances.
Scarcity and specification
4 of 17 units remain. The plot sizes, orientation and amenity package on this scheme are not easily replicated in the immediate resale stock.
Risk-managed entry
Spanish new-build buyers are protected by staged payments held under bank guarantee, ten-year structural warranty and full licence review. Roccabox brokers all of this through regulated counsel.
The premium, contextualised
Useful context — not a substitute for unit-level valuation. Pricing data cross-referenced against live Costa del Sol market signals.
Mala Kai is not priced against average Estepona resale stock. It is a premium new-build product with the specification, plot quality and amenity package that the broader resale market typically does not match. At €5,035 per built m² the relevant question is whether the premium is justified against comparable new-build completions, not whether it beats the area's median of €3,124/m².
Comparable confidence: 70% · Source: live market data, 05/11/2026
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What every unit receives
Living in Estepona
This is a part of Estepona where the errands take minutes. A Mercadona sits 235 metres from the entrance, an Aldi a little further at 620 metres, the pharmacy 456 metres and the Hospital de Alta Resolución de Estepona under a kilometre away. The nearest sand is 325 metres off, with Costa Natura beyond it at half a kilometre, so a morning swim is a walk rather than a drive.
Golfers are spoilt without going far. The Albayt academy is 1.3 km away, Azata Golf 1.5 km and Estepona Golf around 2 km, with Finca Cortesín reachable inside a quarter of an hour. Behind the development, the Sierra Bermeja rises for walking on cooler mornings.
Estepona port and its restaurants are roughly seven minutes by car, the old town about twenty minutes on the L-77 bus and Puerto de la Duquesa sits thirteen minutes west. Closer to home, small places like SushiPanda and Bellaco are under 500 metres away for a supper you do not have to plan. Average highs of 22.3°C and lows of 15.7°C mean the terrace works for most of the calendar. Gibraltar airport is around 31 km away, useful for short-notice flights.

Understand the full picture
Spanish purchases involve taxes and fees that catch first-time international buyers off-guard. We surface every figure that matters.
Typical off-plan payment schedule
Spanish new-build purchases are typically paid in three staged instalments, with every euro held under bank guarantee until completion.
Total cost of ownership
Spanish mortgage scenario
Indicative non-resident mortgage on the slider price above. Spanish banks typically lend 60–70% LTV to non-residents over 20–25 years.
Investment outlook
Three scenarios our analysts model on every Costa del Sol off-plan deal.
Residency planning for non-EU buyers
Spain's property-based Golden Visa route closed to new applicants on 3 April 2025. Non-EU buyers acquiring property at this value still have residency routes — non-lucrative visa, digital-nomad visa, and case-specific options — depending on circumstances. We introduce regulated immigration counsel before any commitment.
Buying off-plan in Spain, answered
Straight answers to the questions our specialists field most. For anything else, the assistant above answers in real time.
Is Mala Kai a good investment compared to the local resale market?
What is the off-plan payment schedule in Spain?
Can a non-resident get a mortgage to buy at Mala Kai?
Does buying at Mala Kai qualify for Spanish residency?
How far is Mala Kai from Málaga airport?
What is included in the purchase price?
Can I personalise the property?
Speak with our team.
Our New-Developments Desk has reviewed every project on the Costa del Sol catalogue and can walk you through which of the remaining 4 units suit your brief, model the numbers in your currency, and arrange a viewing — including airport transfer where helpful.
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