Palacio Residencial Pakea, a Luxury Collection Residence, Donostia San Sebastián, will become the city's first Branded Residences development and the world's first standalone project under The Luxury Collection Residences brand.
Impar Capital has signed an agreement with Marriott International to develop Palacio Residencial Pakea, a Luxury Collection Residence, Donostia San Sebastián, marking a major milestone for both the company and the city. The project represents Impar Capital's first Branded Residences development and the first of its kind in San Sebastián.
Located at Camino 1, directly opposite Hotel Maria Cristina, a Luxury Collection Hotel, San Sebastián, and adjacent to the Victoria Eugenia Theatre, the development will occupy one of the city's most iconic locations. Its setting reinforces the distinctive character of a project designed to blend seamlessly with San Sebastián's urban landscape and architectural heritage.
The partnership brings together Impar Capital's expertise in the development and repositioning of distinctive residential assets with the global vision, international standards, and renowned positioning of The Luxury Collection Residences, one of Marriott International's most prestigious residential brands.
Palacio Residencial Pakea has been conceived to restore and enhance an iconic building while preserving its architectural identity. The project will transform the property into a luxury residential offering deeply connected to San Sebastián, reflecting the city's heritage, Atlantic light, and unique character.
"The rise of branded residences reflects growing demand for luxury residential products that combine ownership, service, and experience. Palacio Residencial Pakea marks a major milestone for Impar Capital: it is our first project in this segment and reflects our commitment to developing exceptional properties in prime locations that engage with both the character of the destination and the building's unique architectural heritage," said Carmen Panadero, Managing Director of Impar Capital.
"We are proud to partner with Impar Capital to bring not only San Sebastián's first branded residences with Palacio Residencial Pakea, but also the world's first standalone The Luxury Collection Residences project. Set in a truly cinematic city and housed within a building that embodies distinctive Basque architecture, the property creates a sophisticated dialogue between culture, heritage, and contemporary sensibility," said Jaidev Menezes, Regional Vice President, Mixed-Use Development, EMEA, Marriott International.
Beyond its architectural and residential significance, the development will establish two important milestones for the luxury real estate sector. It will become the first Branded Residences project in San Sebastián and the first standalone development under The Luxury Collection Residences brand anywhere in the world, expanding the brand beyond its traditional association with luxury hotels.
With this agreement, Impar Capital takes a decisive step into the Branded Residences segment, reinforcing its commitment to creating exceptional residential developments in prime locations that combine heritage, design, exclusivity, and world-class hospitality standards.
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