"It's not something that I have been thinking about for the past few months. It's something that I have been thinking about for the past few years," he expressed in video shared on his Instagram. "There's going to be Volume 1 and Volume 2, but they're Final. I don't know. I'm in that moment in my life, that chapter in my life, where I think it's the right time to put it out and I've been thinking about this since 2015."
Iglesias added that he's "never gonna stop making music." "I'm never gonna stop writing songs because I love to write songs. Me encanta escribir canciones, pero I'm gonna do it in a different way," he continued. "Meaning, they don't necessarily have to be packaged as an album. So this project to me is important."
Martin then expressed, "I'm sure you put a lot of thought into man. And it's not an easy decision because you've been doing this for a long time."
As for Martin, he gave fans an update on his album, Play, and shared that he plans to release it before the end of the year.
Additionally, Iglesias wrote alongside the post: "FINAL ALBUM. It’s been a long time coming… my FINAL ALBUM will be out September 17th!!! Thank you @ricky_martin and @sebastianyatra for a great chat and especially thank you to all my fans!!! Gracias a todos mis fans!!! You guys are the best! See you very soon. We promise you an UNFORGETTABLE TOUR. #FINALALBUM
The "Bailando" crooner also shared the cover art for Final Vol. 1, sharing that it will be released on Sept. 17.
"We've known each other for so many years and we wanted to do this for quite a while and now is the time. We felt like it was the perfect time," Iglesias told ET last year, with Martin adding, "It just feels right. At this point in our careers, we don’t have to do anything we don't want to. We want to do this and this is the time."
As for the possibility of this project also giving fans a collaboration, Iglesias said, "We're working on that," with Martin replying, "That's the idea. It would be the perfect timing for something special."