Malaga's San Andrés port investors delay fee payments again

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Qatari fund Al Alfia maintains negotiations with prospective partners to begin construction in the Huelin district

Ignacio Lillo

Tuesday, 7 April 2026, 11:58

The future of the San Andrés marina project in Malaga's Huelin district remains uncertain. The concessionaire for its construction and operation - Qatari fund Al Alfia (the same fund promoting the tower hotel on the Levante dock) - has once again missed the deadline for payment of the concession fee, which was due at the end of March. As a result, the Port Authority has imposed a surcharge of approximately 600,000 euros on the invoice.

In the short history of this project, such delays have become "the norm". This time, however, it has generated some uncertainty within the Port Authority regarding the project's future.

The March delay coincides with the concession holders' search for a "technical" partner specialising in the construction and management of marinas. The search has so far been unsuccessful. In addition, the investors' country of origin is directly affected by the war in the Persian Gulf.

The investors have cited Ramadan and the impact of the armed conflict as excuses for the payment delay, according to port sources, who are not concerned about it, given that the partners have always ended up paying the principal and the corresponding surcharges. Indeed, they have informed the Port Authority that the funds are now available and the transfer authorised, so they are expected to make the payment within a few days.

In February, the Port Authority sent the concessionaires a letter urging them to complete the urban planning process and begin construction, at the risk of losing the concession rights they won in a public tender.

Offers from potential partners

The company holding the operating rights currently has at least two offers from potential partners, some of whom have even offered to buy up to 100 per cent of the shares, according to industry sources. The only prospective partner the public knows about is OCP - the company that manages the megayacht marina along with US firm IGY. SUR has learned that negotiations are also under way with another group, which has requested strict anonymity.

According to the terms currently under consideration, the offer includes all expenses incurred by the successful bidder to date, amounting to an annual fee of approximately 600,000 euros (for four years), plus the initial deposit of around two million and a percentage of profit. In total, approximately eight million euros.

The truth is that the negotiations have not yet borne fruit because Al Alfia has yet to make a decision. The deadlines are running out. For weeks now, the operation has been under the threat of termination proceedings due to inactivity. This would risk losing the deposit and everything paid so far in fees.

The marina project

The San Andrés marina will be located at the mouth of the Guadalmedina, very close to the new headquarters of the Spanish institute of oceanography and the fish market and the future Malaga music auditorium.

The future Huelin marina will require an investment of around 54 million euros and will feature docks with a total capacity for 506 vessels, including two berths for large yachts of up to 50 metres long and five berths for yachts of up to 30 metres. The majority, however - about 400 spots - will be for boats under 12 metres.

The most important civil work will be the widening of the current breakwater that separates the dock from the beaches to create a wide platform for luxury shops, hotels and a nautical club with a restaurant.

There will also be a yacht club, a sailing school, a dry marina for 100 boats, a control tower, a restaurant and an events venue, with spectacular views of the city and the sea. The marina will have a car park with 439 parkings spaces.

The San Andrés marina will be the largest marina for small and medium-sized pleasure craft in Malaga city.

The building permit is only pending fee payments

The urban planning department has already processed the building permit, along with coordinating the detailed study to enable the integration of the marina with the future music auditorium, which will be located just behind it.

The start of the project is only pending the payment of the corresponding fees. While the exact amount has yet to be determined, this step could represent a sum of around half a million euros.