Looks as though it could be closer then we thought and deserves its own thread.

The Cross of Culture could raise a phoenix from the ashes of Polaris

Condado de Alhama II offered to Paramount Investors as theme park location

It's amazing how the playing field can change.

Polaris World are knocking on the door of bankruptcy.

Just days before the deadline which will propel them into a formalized insolvency process, Pedro Cruz, Minister of Culture for the Region of Murcia, a man with a vision who wants to really put Murcia on the map and whose name ironically translates as Cross, comes back from the deserts of Dubai . He's bearing the news that a team from American Giant Paramount are coming to the region, carrying out viability studies for a project which could  build the rival to Disneyworld Paris here in the Region of Murcia.

Suddenly, property that is a dead dodo could, just could, be worth a fortune.

The Condado at Alhama, 3000 houses constructed out of  a possible 30,000, planning permissions intact, power, intact, water supplies ,intact, services , intact. But no more money to finish the development and the developer offering property at 50% discount in a desperate bid to stay afloat, yet still no-one's buying.

Plenty of room for a few leisure hotels and tourist apartments left in an enormous, landscaped space.

To clear off their debts, they've given the ownership of what would have become Condado II to the banks, as well as the unsold properties on Condado I,  and are still haggling, no formal agreement announced yet as they carve up the Polaris Empire to clear their debts.

It's complicated.

The management want to say they've maintained their identity, but the reality is that whatever the announcement , when it finally comes, they've chopped it all up, with many different people owning a piece of what used to be the Polaris pie.

And can you imagine the desperation they must be feeling now, watching what's unfolding around them, which, had it happened 6 months ago, would have made them the most important company in the region of Murcia.

What's happened now is that the cross of culture has blazed a trail across the sky, and built a bridge over the oceans to America, a bridge that could have saved Polaris World from falling into the abyss.

"If the man from the big apple says yes," this region will be able to create 20,000 jobs, expect an additional 3 million tourists a year and property prices in this region will rocket.

Those houses that Polaris are having to give away now, will be worth a fortune.

And the land they've been forced to give to the banks will be priceless.

But is it going to happen, and if so, where????

This week, councils, banks, businesses and politicians have been flocking to offer their support for this project, all desperate to get in on the action and make it happen.

And every municipality wants it to happen to them.

The reality of big projects like these is that Paramount knows how badly we want them, and these big boys play tough to get, the location has to be right for them, and so does the deal. If this region wants the project there's a lot of boardroom wheeling and dealing to be done, promises made and concessions made, one of which will undoubtedly be the ceding of the land by the region, land worth millions, as a nice little carrot to bring the donkey into the stable.

And here, in the south of Murcia, we've got a King Carrot, a rather attractive parcel of land which the new owners have offered to the American Giant for the construction of their new theme park.

It's called Condado de Alhama II. 

(This is directly behind Phase 1 Past La Isla)

It comprises 6 million square metres and has already been given the status of urbanisable land and incorporated into the Plan Parcial.

And the people who own it are the banks to whom it was given by Polaris World in the negotiations which wiped a billion euros of indebtedness off their books last autumn, the consortium IRM, Iniciativa Resort Mediterraneo owned by Caja Mediterraneo, Cajamurcia, CajaMadrid, Banco Popular and Banco de Valencia.

It's ideally located within the triangle of new motorways, right next to the new airport and the new high speed train link and fortunately comes under the administration of a very sensible council.

Can you imagine how Polaris management must be feeling right now, with the possibility that this project could happen here, and make the property they're being forced to give away for nothing so valuable.

And why the negotiations must be so difficult to conclude when all parties know that this one decision will make a dead donkey into a Grand National Champion, and if only they had a crystal ball they could make millions out of buying now, investing now, or not giving it all away now.

If you had a million euros to invest right now , would you take the gamble and pick up those properties at half price, or indeed, any of the other bargain properties going begging in Murcia right now, with the possibility that this could actually happen?

 Decisions, decisions.

The feasability study is being done during March.

Murcia Paramount chooses to open a theme park

01/03/2010 The Minister of Culture and Tourism of Murcia, Pedro Alberto Cruz, has confirmed that the governing board of the multinational Paramount has chosen this autonomous community to open their new facilities in Europe.

In April, a meeting will be held in Murcia on the master plan and feasibility plan will be presented the land where they will locate, access and infrastructure, and, from there, start the negotiation and attract investment.

These facilities will create about 20,000 direct jobs in both the theme park and studios as in the resort, restaurants and shopping areas, the adviser said.

 Translated as best tru google translator from Laverdad.es Pretty much the same story, but here's hoping :)

http://www.laverdad.es/murcia/v/20100312/comarcas/seis-bancos-cajas-ofrecen-20100312.html

Here, here, here ... The apparent interest of the multinational Paramount entertainment in the region to build a theme park that would compete directly with Eurodisney and would create 20,000 jobs, 15,000 hotel places thanks to the influx of three million tourists a year, is generating a flurry of responses from municipalities, businesses and even individuals, offering land and facilities for the theme park manna falling on their heads. 

After Ulea offerings and those affected by Springboard Hills, it is his turn to Alhama. Mayor Joseph Swords says the investor group Resort Mediterranean Initiative (MRI), consisting of Caja Mediterráneo, Cajamurcia, Bancaja, Caja-, Banco Popular and Banco de Valencia Paramount wants to install in the land it owns in Condado de Alhama II. 
The conglomerate is the new owner of that land, originally from the Polaris World company, which was reserved for the second phase of Condado de Alhama. The lots total more than 6 million square feet and are located next to the motorway A7 connects the RM602 that the de Mazarrón. 
According to Swords, MRI is preparing a dossier to expose "where necessary" in order that if Paramount finally lands in the Region do here. The mayor says the city government is "working on it" through the urban entity that is developing the Infrastructure Plan. It so happens that the entity is owned by large companies in the Region as well as important companies in the world of finance and banking, among which are some of the IRM components. 
In the area known as Las Cañadas and the Coquel, referred to as the Comprehensive Plan "major urban developments," including at Condado de Alhama now only I, which have built only 3,000 of the 15,000 homes planned in the project , is now a reality. Polaris Word, which owns this 'resort', so was the Condado de Alhama II, yet to be developed and which has six million square meters with a Partial Plan finalized. Polaris transferred its ownership to MRI to cover its financial debt. 
The mayor says the area is "the best" for their communications and have all the paperwork and approved environmental planning. It also has guaranteed water supply, has its own electrical substation and a water treatment plant. Swords says the proposal will be endorsed by the City of Totana.

I can't help but think that if this comes off that while it will be fantastic for our property prices we will lose something as well - the current peace, calm and tranquility will be transformed to the madness of theme park hysteria, quaint little Mazzaron will become another Benidorm - pros and cons !!

If it is on Condado 2 does that mean we will not get the 2 proposed  new courses (Condado de Alhama 2 and 3?).

Also if we are responsible for the outer ringroad does that mean we can lease our 8000 parking spaces to Paramount ?

They are already in place!

Barry & Sue

I did express a bit of concern about what a theme park could mean to Condado- but I think I was percieved as being negative. I thought I was being realistic, mind you they might not quite get the same level of tourists as Disney Paris or the Florida theme parks, but it'd still mean a steep rise in tourists.  I think people mostly think the positives outweigh the negatives if it actually happened. It'd be such an enourmous boost to the region and to our resort that we'd propably get all the facilities we could handle which would include the Oasis I imagine. I think if you've bought to rent out or to sell on you're bound to have that blinkered viewpoint and wont be thinking of people who bought for a quiet retirement or the 'real' Spain experience- or as much experience as you can get from a golf resort anyway. But facilites wise it would mean a huge boost which can only be good and we are renting so I've got to look at this from that financial point of view too.

I think, from what I am reading, and I've been googling all over the 'net, that we're talking about land beyond the site of the two yet to be built golf courses. So definately over on the horizon and towards Corvera. I knew PW bought swathes of land but must be honest in that I hadn't heard the phrase Condada ll before. I thought our resort as it stands was divided into phases and if they'd built further penthouses and villa's and the golf suites that was to be phase 11. Wrong I guess, or that was changed at some point. Recently PW gave land to the local govt so the new high speed train link could go ahead and had to give land to the Banks. I'm not sure if the land they passed to the Banks included the sites for the further two golf courses.

At the moment there are lots of rumours in print but I have found links to the New York Times which talks about Murcia being the next frontier and a focus for big links to be made by major organisations in the USA.

Points Raised.

The land donated to Alhama council, which I think most of you are unaware of was across the road. It runs from the left of the roundabout, almost up to the rounadabout at the Alhama turn off. This was going to be for studios, a lake and another golf course. What Polaris didn't realise is this land is part of Z.E.P.A  -   iT IS A PROTECTED  area for birds. So Giving it to Alhama was a bit tongue in cheek as they were not allowed to do anything on the site, no matter how many back handers they tried but in return for donating the land they got the permission for CDA ii.

There are already plans in place that if this does happen the access will be from the existing MU-602  Alhama to Cartagena new motorway. So the main traffic should stay on that side but the area of land goes from around the MU-602 right up to the existing CDA I.

This may not even happen. But the locals never thought CDA would either as before the land was sold to PW the whole area was mile upon mile of Orange groves as you drove down from the old Alhama roundabout (It was beautiful) and then PW Ripped out all those trees (Thousands) as the govt does not allow building on sites that are occupied with olives, oranges etc and then applied for planning permission. This is progress !!!!

what will they do with the fly,s and the smell of pig s..t may be remake of

the fly who s..t here or babe on the condado

maybe that's the smell of money ???????????????????????????????

I'm certainly watching with interest, could be good business during the construction stage and who knows when it's built ....... early retirement.

Hi Arnoldedith, I'm pretty certain that the land PW recently donated to Alhama was actually reported in the local press as being in the Carascoy hills.

Also, the AP7 is the coastal motorway, it doesn't run from Alhama to Cartagena - those new motorways are numbered RM2 and RM23 I believe.

Regards, Ian

Quite correct Ian Getting my AP-7 mixed up with my MU-602 but like I said the exit will be off of the new Alhama to Cartagena motorway.

The land you are referring to was donated last year to Alhama Ayuntamiento was in The Carroscoy area. The land I am referring to was donated before construction work started on Condado. Like I said they wanted to build on the other side of the motorway in the area called The salt marshes of Guadalentin

from condadodealhameservices.com

So, what does that mean for Condado De Alhama I owners? Well it means you should be wishing real hard. The property prices on Condado will sky rocket if this plan is accepted and approved by Paramount. The viability study will be completed soon, if it is approved, crack open the champagne if you own a property here.

Reminds me of a tune .......... if you wish upon a star ...........

Word is we will have the Park and it is on Paramount web site

Can anyone find it!!!!!

Translates from 20minutos website

Cruz says the Paramount project "are promises in the air" and have a foundation "pretty solid"
The Minister of Culture and Tourism, Pedro Alberto Cruz, said today that the project to build a theme park and a film studio in Murcia by Paramount Pictures "are not promises in the air, but have a pretty solid foundation."
Cruz, told 'Radio Nacional of Spain' collected by Europa Press said the Region of Murcia has a considerable percentage of possibilities that go well ".

The adviser added that the issue Paramount is burning phase by phase, "but recalled that" after the first boom media asking for a little peace and above all confidentiality to bring the negotiations on track. "

"Hopefully in the coming months we can say we have signed with Paramount Pictures and this has ceased to become a dream to become a reality," he said.

I couldn't find anything on paramount site but did see some articles published in last couple of days confirming that Condado seemed to be the possible site.  But they all say subject to feasibility/viability studies.

http://www.worldleisurejobs.com/newsdetail1.cfm?codeID=181633&CFID=3033296&CFTOKEN=41866755

http://www.balppa.org/newsdetails.cfm?codeID=181633

Are they still looking at Condado ll though? The blurb I read yesterday mentioned 'Murcia amongst other potential locations" and after the first flurry of news the articles earlier this week stopped mentioning Condado ll and just mentioned Murcia generally.

After an intial uncetaintly about the prospect of a theme park right next door and the knowledge that Paramount were probably looking at land beyond our 2 further proposed golf courses I have rather come around to the idea. Certainly a huge boost to the area/region and to our resort in particular- so fingers crossed that it actually happens.

All I know is that in the article they mention that the land is "believed to be in the Condado de Alhama area"

From the 'LEADER' updated approx 3.40pm today UK time

'Paramount Pictures have chosen the region of Murcia for the construction of the biggest theme park in Spain, which aims to compete directly with Disneyland in Paris. 

The project will have the added value of some cinematographic studios which will be the centre of all Paramount’s productions in Europe, according to the Murcian Councillor for Culture, Pedro Alberto Cruz. 

Cruz has just got back from a trip to Dubai with a letter from the executive president of Paramount, Michael Bartok, who wants to start the ball rolling just as soon as it has been proven to be economically viable.

Cruz has said that the region of Murcia will become the “Leisure Centre of Spain, with a 2.5km² complex with 15,000 beds in hotels, creating 20,000 jobs, and attracting 3 million tourists to Spain.  The amount of money to be invested will be decided next month, and private investors will be offered the possibility of putting their capital into the project. 

The project is estimated to be completed within 2 years.  It comes like a breath of fresh air in the present financial climate. '

But it doesnt really say anything new or confirm anything for a particular location or attribute the article to a specific spokesperson. Judging by todays info on Condado Services forum the decision wont be made for a while.

imagine the stampede for all those unsold and heavily discounted properties !!!!