The skyscraper project has bitterly divided residents of Marbella, a resort on Spain's southern Costa del Sol favoured by celebrities and royals.
On one side there is the developer Pedro Rodríguez and the town's mayor, Ángeles Muñoz, a member of Spain's conservative Popular Party.
On the other side is the citizen's group the Plataforma Marbella Contra Los Rascacielos, or 'Marbella against Skyscrapers' (MCR), who are bitterly opposed to the plans.
This group has already received support from influential figures with homes in the area including Spain's Duchess of Alba and a Saudi prince.
Prince Salman bin Abdulaziz has said he will leave Marbella the moment he sees a crane start work on the project, MCR spokesperson Pablo de Hohenlohe said at press conference on Thursday.
Various Spanish media outlets have also reported that the Duchess of Alba sent a letter to Marbella's mayor asking her to stop the project.
"The heights (proposed) are very dangerous and could ruin the model of the city," wrote the duchess, according to Vanitatis magazine.
On Friday, the council of Marbella will hold an extraordinary session to debate the future of the project.
Local mayor Ángeles Muñoz said recently the project won't go ahead. She hopes to see an end to the matter at Friday's meeting.
But opponents are concerned that changes to city planning laws introduced in November could eventually see skyscrapers being built.
"We want the (mayor) to annul that agreement to have guarantees that they aren't going to build said MCR head and local architect Carola Herrero.