Finca Enara - Finca construction project with sea and countryside views

Villa Retiro is a spectacular residence situated on one of the highest points in Sotogrande, offering unparalleled panoramic views of La Reserva, Gibraltar and the Mediterranean. This four-bedroom villa, distributed over three floors, adapts elegantly to the natural topography of the plot, standing out for its modern architectural lines. The villa is a sublime manifestation of simplicity and sophistication, with a design that ensures perfect harmony between the building and its natural surroundings. The interior and exterior spaces are fluidly connected, thanks to the large windows that replace the walls, allowing natural light to flood every corner of the house and establishing a deep connection with the surrounding nature. On the ground floor, the main entrance leads to an open-plan living space that includes a generous kitchen and dining area, extending onto a large lounge terrace that merges with an infinity pool facing the horizon. This floor also houses the luxurious master suite, equipped with en-suite bathroom, dressing room and direct access to the garden, which includes a private outdoor shower, offering a perfect private retreat. The lower level of the villa features a garage and laundry room, while the upper level houses three en-suite bedrooms. Each of these bedrooms offers spectacular sea views and maintains optimum privacy, each with its own private terrace. Villa Retiro is not just a residence, but a unique living experience, immersed in a natural environment that promotes an emotional connection with the landscape, making every day an opportunity to enjoy the beauty and tranquillity of Sotogrande. For more information, please contact us. #ref:CBSH22

Magnificent villa with sea views. Tastefully furnished, the villa offers peace and comfort in front of a marble fireplace. All furniture made from natural materials is made to order. The kitchen and living room are properly distributed and give the feeling of a large space. On the first floor there are two cosy suites. In the basement is the service area, which includes a second kitchen, a living room with a bedroom and a boiler room. The house is complemented by a swimming pool and a beautiful garden. Buying this villa will be the right investment to create a comfortable family life. #ref:CBS367

House with a 12m x 4m mooring, perfect for boats up to 15m both sailing and motor, this property is situated only 300 metres from the harbour and the beach. With three floors including a 48 m2 roof plot, garage and elevator. In addition, three double bedrooms, two complete bathrooms and a separate toilet, a terrace and balcony. With solar orientation to the south, lateral sea views from the second and third floor, and features such as aluminum carpentry, ceramic floor, open and equipped kitchen, heating with heat pump and reversible air conditioning, this property is perfect to enjoy the beaches and every corner of the Costa Brava. It also has pre-installation of alarm, pre-installation of jacuzzi, interior lighting with LED, basement and storage room. Empuriabrava, known as the 'Spanish and/or Catalan Venice', is a coastal gem located on the Costa Brava. With its intricate network of canals, beautiful beaches and unique Mediterranean charm, Empuriabrava is an ideal destination for those seeking a relaxed seaside lifestyle on the Spanish Costa Brava. Enjoy its restaurants, stores and water activities, and immerse yourself in the natural and cultural beauty of this charming seaside town. #ref:CBLX02849_A

We present a new concept of luxury in La Cala Golf Mijas: an exclusive complex of 58 homes with a contemporary design. These properties are located in a stunning natural environment, in the Andalusian countryside, where tranquility and serenity are the protagonists. The complex offers spectacular views of the La Cala golf course and is located just a few minutes from La Cala de Mijas. This development belongs to the prestigious Wyndham Group, one of the world leaders in the luxury hotel and residential sector. The brand is distinguished by offering an extraordinary lifestyle, aimed at those looking for the best in a second home. Owners will enjoy first-class facilities in the common areas, including state-of-the-art gyms, sauna, steam baths and swimming pools. The complex is strategically located on the 6th hole of the south course of La Cala, surrounded by over 90 holes of golf within a 5 minute drive, including the prestigious Santa Golf and Calanova courses, with access to over 70 courses on the Costa del Sol. In addition, this property can be part of the exclusive rental network managed by Wyndham, which takes care of all aspects of administration, ensuring a worry-free experience. Don't miss the opportunity to acquire an extraordinary residence in one of the most enchanting locations on the Costa del Sol. For more information or if you would like to make a visit, please do not hesitate to contact us. #ref:CBSH33

This 'Petit Palais' is a beautifully refurbished house situated just a few meters from Marbellas´s incredible Golden Mile beaches and surrounded by tropical gardens. This sleek, light, modern home offers an idyllic retreat in a peaceful community, nestled amongst the most popular and vibrant areas of Marbella. With four spacious bedrooms, making it perfect for families and tourism. Boasts large front and rear terraces, equipped with comfortable outdoor furniture and dining areas, ideal for enjoying meals al fresco or relaxing in the sea breeze. The property is sold totally furnish with a fully equipped kitchen and all the modern conveniences including high-speed Wi-Fi, washing machine and air conditioning to ensure a comfortable stay. All manner of activities and attractions are available on the doorstep, including two communal swimming pools, a tennis court and a paddle tennis court all within the community and free to use. There is a beachfront walkway (paseo maritimo) connecting Marbella to the east, with Puerto Banus to the west, and all can be accessed by walking or cycling. Marbella is renowned for its glamorous lifestyle, pristine beaches, and historic charm. The Golden Mile, a stretch of coastline between Marbella and Puerto Banús, is the heart of the action, and the community of Marbellamar is perfectly placed within walking distance to all the main hot-spots. You can bask in the sun on sandy beaches, swim in the Mediterranean and eat in top cuisine restaurants. #ref:CBSH174

Located in the sought-after Alejandría Villas urbanisation in Moraira, this new villa will be built on plot P2 of a double plot of 1,770 m². The property is carefully distributed over two levels: Ground floor: 3 elegant bedrooms with en-suite bathrooms, a guest toilet, storage room and a spacious living room open to a modern, fully equipped and contemporary design kitchen. Upper floor: 1 master bedroom with en-suite bathroom and an open terrace of 60 m², perfect for enjoying the Mediterranean climate and views of the surroundings. The exterior offers a space designed for leisure and comfort, with a covered and uncovered terrace, a 45 m² swimming pool, a private garden and a parking area. This villa represents the perfect combination of luxury, functionality and modern design in one of the most exclusive enclaves of Moraira. #ref:CBS765N

This is a development composed of 100 apartments in a magnificent residential area and in an extraordinary location. The two- and three-bedroom apartments are distributed in different blocks, which creates a harmonious and balanced whole. The project combines modern design architecture, surrounded by carefully studied landscaping that wraps the building with extensive gardens and common leisure areas, offering residents a resort concept in their own home. The apartments are very spacious, including penthouses and ground floors, with layouts, qualities and finishes designed to make the property exactly what you are looking for. Each flat features a spacious terrace, which is a key part of the entire design, an extension of the home with spectacular views. The location and surroundings are other great advantages of this development, which offers unbeatable views of the Mediterranean Sea. Manilva is a unique town thanks to its location, culture and gastronomy, an ideal place to enjoy the sun, the sea and a cosy and friendly lifestyle. The spacious communal areas have been designed to offer a wide variety of services, amenities and entertainment for all tastes. A resort in your own home, with large gardens and an infinity pool with saline chlorination, solarium, relaxation and yoga area, spa with Turkish bath, jacuzzi and sauna, indoor gym, leisure room with coworking, multimedia and games area, all surrounded by carefully landscaped gardens... The list of elements in these areas is designed for you to enjoy this residential area, regardless of your preferred lifestyle. The units have been designed with an ideal layout, large spaces and terraces designed to be an extension of the flat. The orientation of the development and its strategic location allow the views and the sun to be the main protagonists of the terraces. The architectural team has carried out a study of the surroundings and location, which, together with an ideal ratio between built and useful area, make these apartments a perfect choice. #ref:CBSH252

Vista Lago Residences is a luxury complex of 18 sustainably designed villas in an exceptional location in Real de la Quintana, Benahavis. The location is unique, with the iconic La Concha mountain on one side and the exclusive La Zagaleta Country Club & Golf estate on the other. It is located around a UNESCO biosphere reserve and only a 15-minute drive from Marbella. The aspect they have in common, apart from their exceptional views, is that they all have the best construction and design qualities, with a level of innovation and creativity uncommon in residential complexes. The interior/exterior concept is integrated into the entire property, with the living room and terrace merged into a single large living space. In key areas of the properties, both on the ground and upper floors, windows are concealed in the walls, ensuring unobstructed views and integrating the outdoors into the home. The orientation of all villas is designed to offer maximum privacy of individual plots, achieve spacious terraces and expansive gardens, true infinity pools and bespoke spaces that house games rooms, gyms and home offices. At Vista Lago Residences, plots range from 1107 m2 to 10005m2 and each villa has an approximate size of 500 m2 built plus terraces and gardens. #ref:CBSH470

Build your home in one of Sotogrande's most emblematic locations: La Gran Reserva, the most exclusive residential experience ever offered in this prestigious area. Set in a unique setting designed by renowned landscape architect Jean Mus, La Gran Reserva is home to the most privileged residential sites, surrounded by a unique landscape. Since its beginnings, Sotogrande has stood out for its rich equestrian culture and its exceptional facilities for equestrian sports. Polo, dressage, equestrian, cross-country and show jumping are key competitions in Sotogrande's vibrant sporting calendar. Living here means enjoying dazzling views and the charm of endless gardens, with the Mediterranean as a backdrop. La Reserva, the last of the four residential districts that make up the original Sotogrande estate, offers the perfect 'private retreat' for like-minded families, combining tranquillity and luxury in a secure and private environment. Within La Gran Reserva, The 15 is one of two communities designed to offer a serene and secluded environment. The 15 residences in this community stand out for their exceptional views of the Sotogrande coastline and beyond, with expansive outdoor areas that invite you to enjoy the climate and panoramic views. Each plot, ranging in size from 4,500m² to 5,000m², has been carefully orientated to protect the privacy of its owners and offer a unique getaway with panoramic views of the Mediterranean Sea. Once built, our team will take care of all the details of maintaining the properties, ensuring residents a carefree experience so they can relax and fully enjoy their home and community. La Gran Reserva and The 15 represent the ultimate expression of sophisticated living, combining luxury, nature and exclusivity in an incomparable setting. For more information, please do not hesitate to contact us. #ref:CBSH25

New exclusive development featuring 48 two- and three-bedroom apartments and penthouses within walking distance of the beach and local amenities in the beautiful Arroyo Enmedio area of Estepona on the Costa del Sol. Designed by renowned architect Pablo Villarroel, these modern homes feature bright and spacious interiors, with large windows that fill the rooms with natural light. The open-plan living areas flow seamlessly into the fully fitted kitchens. The master bedrooms have en-suite bathrooms, while the secondary bedrooms share a family bathroom. The apartments offer privacy and peace, surrounded by nature. The ground-floor apartments have private, sunny gardens, while the middle-floor apartments and penthouses feature spacious terraces with stunning views of nature and the Mediterranean Sea. The communal areas include a large swimming pool and tropical gardens. This exclusive development is located on Estepona's New Golden Mile, in the Arroyo Enmedio area, a sought-after area with many amenities and facilities. Schools, sports facilities, a shopping area, and the beach are easily accessible on foot. Golf lovers will be spoiled for choice with several courses in the surrounding area, including renowned options such as Estepona Golf, Azata Golf, and Valle Romano Golf. Marbella and Sotogrande are just a 20-minute drive away. Malaga Airport is easily reached via the A7 motorway in just 60 minutes by car. Gibraltar Airport is also nearby, a 40-minute drive away. #ref:CBSH228

Located in the prestigious municipality of Benahavís, we present this new residential project, consisting of 60 spacious and bright apartments, each with garage space and private storage room. The homes, which start at 103 m² of living space and have terraces of 33 m², have been designed to maximize the comfort and enjoyment of its residents in an incomparable natural environment. This exclusive residential complex is part of the renowned private complex La Hacienda del Señorío de Cifuentes, sharing with it its four swimming pools surrounded by lush gardens, elegant fountains and a bar, all in a private enclosure with surveillance and an exclusive concierge service. Located in one of the quietest and safest areas of the Costa del Sol, it is integrated in the macro urbanization of Los Jaralillos, in a privileged position that offers panoramic views of the prestigious golf courses of Atalaya and El Paraiso, as well as the majestic bay of Marbella. This complex consists of 5 buildings, each with only 12 apartments of 2 and 3 bedrooms, all with large private terraces. Perched on a breathtakingly beautiful hillside, each apartment faces southeast to capture views of the golf valley and the bay of Marbella, providing its residents with an atmosphere of peace and security unmatched in the area. The terraces, in landscape format, are harmoniously integrated with the living rooms through large windows, optimizing the entry of natural light and framing the spectacular views of the surroundings. This design allows each home to be in constant connection with the landscape, creating a climate of relaxation and serenity for its residents. The homes are delivered fully equipped, ready to move into, with a careful selection of materials and high-end finishes. The modern and sophisticated Mediterranean-style interior aesthetics reinforce the exclusivity and prestige of this resort, turning each space into a luxury experience, surrounded by natural beauty. #ref:CBSH54

Villa Enigma is a jewel of contemporary architecture, located on the highest plot of the prestigious Monte Olimpo urbanisation in Jávea. Just 8 minutes from the beaches and close to schools and international restaurants, this exclusive residence offers stunning panoramic views of the sea, mountains and valley, masterfully combining avant-garde design and natural surroundings. Distributed over three levels, the villa has an elegant garage with capacity for two vehicles. The main floor houses a spacious and bright living-dining area, an open design kitchen equipped with high-end appliances, a guest toilet and a double bedroom with an en-suite bathroom. From this floor there is direct access to a generous terrace with a private pool, from which spectacular views of the Mediterranean Sea can be contemplated. On the upper floor there are two additional bedrooms, both with en-suite bathrooms. The master bedroom stands out for its privileged location within the house, with the best views of the property and a large dressing room that provides functionality and style. The exteriors of Villa Enigma have been designed to offer a landscaped and harmonious environment, where every detail has been carefully thought out. The interiors stand out for their high ceilings, clean lines and floor-to-ceiling windows with double glazing, which flood the spaces with natural light and connect with the spacious terraces and pool. The construction of this property will be executed with the highest quality standards and meticulous attention to detail, guaranteeing a residence that combines luxury, comfort and aesthetics in perfect harmony. #ref:CBS543N

Discover Villa Turquesa, an architectural gem located in the heart of the sunny Las Lomas del Rey urbanization in Jávea. This serene retreat is nestled among the green landscapes of the Granadella natural park, the panoramic views of Montgó mountain, and the splendid Jávea valley. Just minutes away from fine sandy beaches, incredible coves, the exclusivity of Jávea golf, and prestigious international schools. Construction of this villa begins in July 2024. Villa Turquesa is northeast-facing, and its architecture is a fusion of Mediterranean and Ibizan styles, characterized by the use of stone, smooth white walls, rounded corners, and exposed wooden beams. The high ceilings and large windows provide abundant luminosity. The exterior of the villa invites relaxation, with a meticulous Mediterranean garden, a turquoise water pool, a wonderful pond, and extensive sunny terraces, perfect for enjoying family meals and Jávea's incredible climate. The ground floor features a spacious living-dining room with access to one of its large terraces, a fully equipped kitchen, an adjoining laundry room, a drying area, two toilets, two double bedrooms with built-in wardrobes, and a suite bedroom with its independent bathroom and dressing room. The upper floor is dedicated to the master suite, offering spectacular views and access to a spacious terrace. Villa Turquesa includes a pergola for two cars, air conditioning, wifi connection, video intercom, and a home automation system for lighting. The elegant finishes include hand-carved natural stones and wooden beams, using typical regional materials. Don't miss the opportunity to acquire this gem. Villa Turquesa can be yours! #ref:CBS506

Located within the exclusive gated community of El Madroñal, this villa represents the epitome of modern sophistication and serene living. Set on a vast plot in Benahavis, this exceptional residence boasts panoramic views of the Mediterranean coastline and the surrounding mountains. Surrounded by beautifully landscaped gardens, the villa features an elegant infinity pool and a tranquil water feature, elevating the outdoor experience to new heights and creating a peaceful retreat where refined leisure and tranquility come together. With a striking contemporary design, the villa invites natural light to pour in through expansive glass elements, effortlessly blurring the lines between indoor and outdoor spaces. The open-plan layout ensures a harmonious flow, while spacious terraces provide the perfect backdrop for relaxation and entertaining. Whether it's the chic chill-out zones, the sunken seating area, the outdoor kitchenette, or the alfresco dining spaces, the villa offers a wealth of outdoor living options designed for enjoyment and comfort. Inside, the state-of-the-art kitchen and thoughtfully curated interiors exude timeless elegance and luxurious appeal. Six exquisitely appointed bedrooms include a master suite that is nothing short of spectacular, featuring a private terrace, a walk-in wardrobe, and a spa-inspired ensuite - a sanctuary designed with both comfort and style in mind. The property is further distinguished by an impressive selection of world-class amenities, including a serene spa with an indoor pool, a fully equipped modern gym, a cinema room, and a sophisticated entertainment lounge complete with a bespoke bar and wine cellar. For ultimate convenience, the villa is offered fully furnished, allowing you to move in and start living the dream from day one. Situated in a secure and private enclave, the villa provides easy access to nearby destinations such as Nueva Andalucía and San Pedro de Alcántara. With its flawless blend of contemporary design and luxurious details, this villa is more than just a home - it is a sanctuary for those who seek the best that life has to offer. #ref:CBSH279

An architectural masterpiece in Nueva Andalucía, where every detail has been meticulously designed to offer an unparalleled lifestyle. Just minutes from Puerto Banús and within walking distance to all amenities, this extraordinary property combines stunning modern design with an unbeatable location. The villa's exterior boasts a striking infinity pool, seamlessly extending from the garden to the interior, enhanced by LED lights that create an enchanting atmosphere at night. A generous terrace offers multiple chill-out areas and alfresco dining spaces, perfect for entertaining or relaxing in style. Accessible via a private driveway, the villa includes a convenient private garage, ensuring ultimate privacy and security. Step inside to an interior that is nothing short of spectacular. The open-plan living, dining, and kitchen area is bathed in natural light, thanks to floor-to-ceiling windows and a double-height ceiling that exudes an airy, spacious feel. The living area features stunning Travertino Tajal stone walls, mimicking the villa's exterior, and a cozy nook adorned with lovely trees. The kitchen is a dream, with generous proportions, state-of-the-art appliances, natural oak accents, ample storage, and direct access to both formal and intimate dining areas. A lift connects all levels for added convenience, as well as leading to the rooftop terrace that provides 360º views of La Concha and the Mediterranean Sea. The villa offers five exquisitely decorated ensuite bedrooms, each designed for maximum style and comfort. The master bedroom is a true showstopper, featuring direct terrace access, a dedicated beauty section, and an opulent master bathroom. Additionally, the villa includes an incredible entertainment level, equipped with a custom bar, a wine cellar, a chill-out lounge, and a TV section that doubles as a home cinema. Remarkably, you can view the stunning swimming pool from this level, adding a unique visual appeal. Located in a prime spot in Nueva Andalucía, the house offers proximity to the renowned Hard Rock Hotel, Centro Plaza shopping center, and the vibrant Puerto Banús. With easy access to the A-7 coast road, the property connects effortlessly to surrounding areas, making it an enviable address for those seeking luxury and convenience in Marbella. #ref:CBSH322

Discover an exclusive collection of just three key-ready villas in Bahía de las Rocas, offering unparalleled sea views, privacy, and luxury. Located only 900 meters from the beach, each villa boasts breathtaking panoramas of the Mediterranean, Gibraltar, and the North African coastline. Key Highlights: Key Ready in 12 Months - Construction license approved; building starts immediately. Prime Location - Just 5 minutes from Sotogrande, close to premier golf courses, marinas, and amenities. Spacious Plots - Ranging from 962 m² to 1,146 m² with expansive built areas. Luxury Finishes - Modern architecture with top-tier materials throughout. Private Outdoor Oasis - Saltwater swimming pool, Mediterranean-style garden, and automatic irrigation. Smart Home Features - Pre-installed telecommunications, WiFi, and a security system. Exclusive Features: Fully installed designer bathrooms with glass shower enclosures High-quality fitted wardrobes Energy-efficient Hisense aerothermal system Premium aluminum carpentry with thermal break Smart home automation for convenience and security This is more than a homeit's a smart lifestyle investment in one of Andalusia's most desirable coastal locations. Ideal for families seeking a permanent residence or investors looking to capitalize on the high-demand luxury rental market. Investment Benefits: Rapid ROI - Tap into Sotogrande's year-round appeal to golfers, luxury travelers, and expats Low Maintenance - Premium materials and intelligent systems for effortless upkeep Exclusive Living - Only three villas available in a serene, sought-after enclave #ref:CBSH597

We present this exclusive penthouse with 2 bedrooms and 2 bathrooms in the new Victoria IV development, a unique home that stands out for its spaciousness, luminosity and, above all, for having a spectacular private solarium: an outdoor space that elevates the experience of living on the coast. Designed under criteria of quality, energy efficiency and comfort, this penthouse is ideal both as a permanent residence and as an investment. Its intelligent layout integrates a spacious living-dining room with large windows that open onto a main terrace and guarantee natural light throughout the day. The kitchen, modern and functional, is fully furnished and equipped, and integrates perfectly into the day area. The private solarium, located on the top floor, is the real protagonist: a versatile space where you can enjoy the sun, organise outdoor meals or create a personal oasis with open views. The master bedroom includes an en-suite bathroom and a fully equipped built-in wardrobe with LED lighting. The second bedroom also has a built-in wardrobe. Both bathrooms have suspended toilets, a shower tray with a screen and a washbasin cabinet with a mirror. Among the qualities highlighted: - Motorized blinds in living room and bedrooms - PVC exterior carpentry with thermal break and double glazing Climalit - Porcelain flooring throughout the house - Armored entrance door - Pre-installation of ducted air conditioning - Aerothermal system for hot water In addition, it includes a parking space with pre-installation for charging electric vehicles and access to common areas with a swimming pool, gardens, children's area and video intercom. Price from €399,000 to €499,000, depending on surface area and orientation. An exclusive home in one of the best residential areas of Dénia, close to all services and a few minutes from the sea. #ref:CBS519

We present to you one of the most exclusive and luxurious developments under construction close to the iconic Puerto Banús, Marbella. This development offers luxury living in a secure gated community designed for those seeking the ultimate in comfort and exclusivity. Each villa, with a contemporary and elegant design, spans three levels. On the ground floor, it features an open plan concept that integrates a spacious living room, dining room, and modern kitchen, ideal for entertaining and social life. Upstairs, it houses the sleeping area with 6 bedrooms. The master bedroom includes a luxurious en-suite bathroom. The other bedrooms are designed for maximum comfort and privacy, complemented by elegant bathrooms. The basement offers additional useful spaces, including a garage with capacity for 3 to 6 cars, adding a touch of exclusivity and functionality. Everything is equipped with the latest smart home technology, allowing residents to remotely control a wide range of appliances and home systems via smartphones or tablets. This functionality provides a modern, secure and highly efficient living experience. It also has its own swimming pool, providing a private oasis for outdoor relaxation and entertainment. Furthermore, this complex has amenities such as a Spa area, which includes a 24m² heated indoor swimming pool, sauna and hammam, offering a haven of wellness and relaxation within the complex. Located just minutes from Puerto Banús, residents enjoy easy access to one of the Mediterranean's most prestigious marinas, famous for its array of luxury boutiques, gourmet restaurants and vibrant nightlife. Don't miss this unique opportunity to live in a luxurious and exclusive environment. With their modern design, advanced technology and privileged location, these villas offer a lifestyle that combines maximum comfort with the beauty and sophistication of Marbella. For more information and to explore the possibility of making this paradise your home, please contact us. #ref:CBSH008

We are pleased to offer you this magnificent property, located 5 minutes from the Rodalies Mataró station, just a few minutes from the N-11 road and the C-32 highway. This is a Countryside House classified prior to 1950, with an exceptional layout, situated in a 'premium' environment in Maresme, in the town of Mataró, within the city of Barcelona. The main house is spread over two floors. The ground floor features a spacious living room with a fireplace, and the dining area is open to the kitchen, which has very generous dimensions. Next, there are 3 bedrooms, a full bathroom, a utility room, and a large multipurpose lounge with unobstructed garden views. The first floor includes a double room (27m2), and two triple rooms (40.6m2 and 43m2 respectively), along with two full bathrooms. To the left of the main house, there is a built-in barbecue, and in front of it, a large chill-out area with spectacular sea views. A few meters from this area, there is a spacious multipurpose space and two bathrooms, accompanied by a large terrace overlooking the extensive 10,000 square meter garden. Currently, the property features farm facilities for animals. Ideal for families, couples, or professionals looking to combine living and working space within the same location. The masia is oriented in all four directions, fully renovated, and surrounded by trees with spectacular sea views. The usage conditions are as follows: HR, HF, TR, E, AIP, AA. Recommended uses include rural housing, activities of public and educational interest, as well as recreational and leisure activities. The house is leased for 6 years to a foundation. The annual yield is 5%. #ref:CBE_0053