Paramount studio's recent news

See condadodealahamaservices.com for some recently reported information

"The Minister of Culture and Tourism, Pedro Alberto Cruz, has said that negotiations with the multinational ‘Paramount Pictures’ continues and that “soon there will be news about it” he asked citizens to “trust in the negotiations being carried out by the regional government. ” (condadodealhamaservices.com)

It would be nice if the Paramount thing came off but I do not have a great feeling about this to be honest knowing what the Spanish are like at spinning a line to encourage people to buy property. Lets wait and see...

Yes I know what you mean- and there have long been runours of theme parks springing up in the region.

I'm still unsure I would want a theme park in the land beyond  La Isla. I've come to like the quiet rural aspect of our resort. But, there's no denying the impact it would have on the region and for our resort. All that said I did read that other region's were being considered so it's not only Murcia thats being looked at-if this is all true. I'd wondered if the problems with Corvera airport's funding had scuppered any genuine interest but that's now all been resolved. So it's a case of watch this space. I am curious though why the media has been so quiet about the whole thing- its not as though they usually need all the facts to make a story but it just went completely silent after Cruz asked for some calm and patience, so that gives me cause to wonder as well.

There is no news - the only news is............. people have started talking about it, but the hard facts are there is no news.

The interesting thing is that if Paramount are seriousy considering building a European theme park, then there is only one place to do it and that is on the land that was previously set aside for the two other golf coures at Condado.

Last time I was out there in May, my wife Alison and I had a drive down the half made up road to have a look around the site. It is a huge area of land that was pleasingly far enough away from La Isla to not be a nuisance but obviosuly had all the infrastructure in place. The expensive drainage system and and power cabling look to be installed and ready to go and there looks to be the possibility of linking up with the other motorway that takes you towards San Javier. If the banks are looking to offer the land as their investment in the project then it is a no-brainer for the development company.

There is a massive market for an alternative Florida style holiday destination that is only a couple of hours away for most of Europe and whilst the USA is great and I am a big fan, the 9 hour flight, horrendous immigration procedures at the airport and jetlag are a big off put for many people.

Also very interestingly whilst we were on our penthouse balcony enjoying the superb weather one afternoon, I watched what looked like an executive helicopter repeatedly fly over the site and then hover for about 20 munutes clearly having a good look around. More than mere coincidence in my view.

I am not prone to wild speculation and really am a realist. It will be a massive stroke of good luck if the development of the site goes ahead - a theme park / leisure complex would be superb. One thing I am sure of is that something will be agreed as that area of Condado is an expensive asset that the banks now own and need to get a return on. There is no other better way of doing that in the current market than enabling a leisure development given the effectivley free infrastructure that is already in place.

I expect we will hear something by the end of the summer - 2010.

Jon Faulkner

Totally agree with you. Would be fanastic for Murcia region, and would hopefully increase the value of our properties.

Whilst it probably would ruin the peace and tranquility, I think it would be the best things ever for people like ourselves who bought the property as an investment. We lost so much money with the exchange rate, so desperate to try and increase the value of our properties.

Also as you say the bank's need to get some money back from somewhere. Derelict land is not really a good asset!!

Not everyone's cup of tea, but we're certainly keeping our fingers and toes crossed.

Rachel and Simon

I suppose even if it did shatter the peace and quiet then the return we would get from either reselling or renting out 52 weeks per year would soon pay for us all to buy our own wee finca somewhere else in the region!!  My friend also saw the low flying helicopter repeatedly surveying that area when she was over.  Here's hoping..............................

Daniels I wasnt kick starting the rumour, I was commenting on a statement I'd read that was made by Minister Cruz on Murcia Day 9th June- so fairly recent news.

I expect that  something will happen with that land sooner rather than later as the Banks do need to move it on. I doubt they'll wait for Polaris to regroup/refinance and buy everything back but so few developers are building anything at the moment. I see that Spanish news is reporting an upturn in proerty sales but they have so much empty stock it will take an age before more new property gets the go ahead.

Hi!

we have an apartment on La Isla. What we had heard is that the land that polaris was supposed to offer for the park wasn´t part of the Condado Project. Are you sure that it would be the land surrounding the lake and beyond, which are supposed to be 2 golf courses? I had never heard anything like that and i think it would be awful for the owners of la isla and those jardines who live along the avenue whoare supposed to see the oasis.

I agree that it would be great news for all of us, but not if it comes instead of golf courses!!!

does anyone know anything else about this?

thanks

Hi Vicki

From what I have read and heard over the past few months, there will unfortunately be NO Oasis or other golf courses. Polaris I believe do not actually own any of the land now, other than what's already been built so they will not be developing any further - that's my understanding.

And the rumours are definitely that Paramount are looking at the land that the 2 golf courses would have been built on.

What you must remember, which is hard to stomach (as we have also struggled with), is that Polaris are a builder/developer only and we are lucky in one respect that at least they didn't go completely bust otherwise we wouldn't have even had a bar on site!!

I know this sounds very negative, and it completely pains me to write this, but I am trying to be a realist and I believe the dreams of the largest golf complex in europe are well and truly over.

As the golf course has also been sold to Olagolf, Polaris don't really have much to do with the site I believe, apart from trying to sell the remaining properties on the parts of the development that have been completed.

All of the above is only my understanding though from what I've heard and read etc, but I am not a gossip monger and wouldn't just write this to upset people, I do honestly believe this to be the case.

Sorry

Rachel

Hi Rachel,

thanks for your quick answer. I knew about polaris problems, Oasis becoming almost an impossible dream and Olagolf´s news, but dind´t know at all what was going to happen to those two golf courses or the land for them. bad news it if finally end up as you fear.

thanks!

v

I can only repeat what Sergio at the Polaris sales office has said.  Olagolf do NOT own the golf course, they have a 15 years lease of the course.  Olagolf will pay for and build the new club house shortly.  Polaris have an option to purcase the club house at the end of the 15 years lease.  Polaris DO own the property on which the additional two golf courses are to be constructed.  Polaris DO NOT own the land surrounding these additional golf courses.  I'm sure that Sergio is saying as he has been advised.  This advice will be coming from the Polaris senior management.  In relation to Polaris hirearchy all I can say is "white man speak with forked tongue"  (No racist implication here).  The truth of the matter is we really don't know the legality of ownership here.  I'm not a great believer in the Paramount theory, as the only people who are talking about it are people who know absolutely nothing about it, or they have a vested poitical interest to mislead.  Would be happy if it did come to fruition, but don't hold your breath. 

Polaris now only own the Al Kasar and Naranjos garden 4 and 5 (or 5 &6 whichever are closest to the golf course entrance)

A consortium of Banks own all the rest of Condado including the golf course and Olagolf are managing it for them. This information is in the minutes of the meeting held before the recent AGM (just after PW had to declare their position to the Courts or go Bankrupt) and on the Condado website. www.cdagr.eu.

The land (Oasis and further 2 golf course site) identified as Condado 2 is the land that has been subject to speculation about Paramount (which I agree could just be being put about by people with a vested interest. Although the Minister in question had a letter from the group that identify suitable plots for Paramount. That, though is different than Paramount providing the letter) This land is no longer owned by Polaris World and is part of the land passed over to the Banks together with all the unsold Condado properties other than those in Naranjos 4&5 (or 5&6) The other pieces of land are where Mirador and golf suites and villa's should have been and I expect any other parcels of land on Condado.

Therefore Oasis and the two further golf courses cannot happen. I expect if the theme park became a reality it wouldnt be right up by the lake but of in the distance. I'd very much like some large  Villa's to be built on Condado but the Banks have to find a developer first.

Sergio may not be fully up to date as what was posted on this thread is in part what he told someone many, many months ago- or information could be lost in tranlation. For example it was suggested that Olagolf planned to turn several of the ground floor penthouse properties into a golf club house and shop- that was posted on here. The reality is that they plan to build such a facility near the Penthouses by September. But I was recently asked if it was true that a night club was going to be built in the tower blocks on Condado, as I said lost in tranlation! Rumours have legs....

Good for you TheQuietMan a little light on the subject.  As I suspected Sergio probably unknowingly, I don't know, is regurgitating Polaris disinformation.  Well there's a shock! 

Hi

Yes nice humour.

When we were over a couple of weeks ago, we had a conversation with an employee from Olagolf (who used to work for Polaris). He said the same about Club House. He said it is to be located near where the golf buggy park is (by the postboxes) and will be completed by end September. I asked what facilities it would have and he said everything inc bar, restaurant - this is certainly needed as we have heard from many people who live on Condado that as The Clover doesn't open until 3pm, they have seen golfers go into the supermarket, but baguettes and ham and sat in their cars in the supermarket carpark eating them with a drink as there is no where to go after a morning game of golf - how awful is that!

Not sure if any of you have purchased the 10 year golf membership, but this guy also told us that whereas Olagolf initially said they would honour these memberships, apparently this is changing and they are not going to. Also, we cannot gain a discount for golf now (as a Polaris resident) only on the Polaris owned golf sites (which I believe are La Torre, Mar Menor and one other one, of which escapes my memory).

Things have certainly changed a lot, but at least we have something. That's the only way we can think. The banks I am sure will do something with the land, surely they have no option. One day, we might get some more shops etc, we can live in hope.

Rachel

I think Olagolf have actually agreed to give a discount for residents and a further discount for the Golf Society.  I can't remember the exact rates but believe the  Golf Society rate is €40.

Oh great, that's a bit more postiive. Let's hope they stick to this.

Rachel

SMV

Society rate is 40€. Owners Rate is 50€ and Twilight 30€ after 3pm these are suimmer rates dont know what winter will be? also dont know if the Applie to other Ola Golf Courses

MrsG

Polaris Own La Torre, El Valle, and Hacienda Requilme.

Ola Golf Manage Condado, Mar Menor and La Torre Sur (Las Terrazas)

Cheers Mick

My memory not good at the moment.

Thanks

Rachel

HI QUIET MAN , WHEN DID THE STORY  SAY THERE WOULD BE ANY FURTHER NEWS  CHEERS  MEJAZI10