A massive 230-metre (754 feet) luxury skyscraper is set to be built in a Spanish resort town adored by Brits. Benidorm’s council has approved the construction of the building which is set to become the tallest residential tower within the European Union.

The 64-floor TM Tower is expected to cost around £23.8 million and will have 260 flats, as well as a gym, sports area, swimming pools and a private cinema. It will be built opposite Benidorm’s largest beach, Poniente, and at the top, there will be a bar with an astronomical observatory. Benidorm, a renowned British holiday capital on Spain’s Costa Blanca, already has the most skyscrapers per capita in the world.

The TM Tower is set to be taller than any other residential building in Europe, except for the giant 354-metre Neva Towers complex in Moscow, Russia.

It will dwarf Benidorm’s current tallest building, the Intempo, which stands at 202 metres (662 feet).

Work on the project, backed by construction company TM Grupo Inmobiliario, is due to begin later this year and is expected to be completed in the second half of 2028.

Homes in the TM Tower will consist of one-to-four bedroom flats.

Spanish newspaper El Pais reported that some potential tenants have already started to make their first pre-reservations, citing sources.

“TM Tower will rise to over 200 metres in height, comprising a total of 64 floors and featuring more than 13,000 square metres of communal areas and amenities that will allow you to enjoy the Mediterranean lifestyle like never before,” TM Grupo Inmobiliario says on its website.

“Sixty-four floors of properties with 1, 2, 3, and 4 bedrooms and exceptional amenities designed to elevate your residential experience to the highest level.”

The building will reportedly be built with a rigid reinforced concrete structure, tested in a wind tunnel, "designed to guarantee comfort even on days with strong winds”.

It will also boats lifts capable of travelling at speeds of up to six metres per second.

Benidorm is this year celebrating the 900th anniversary of its foundation.

It was previously a small fishing village until the 1950s but is now regarded as one of the biggest holiday hotspots in the Mediterranean, particularly for British tourists.

The city reportedly welcomed almost 900,000 UK visitors last year.