Is that where that Nike Tick (entrance to nowhere) is off the RM2?

 So what about CdA 2?  Answers on a postcard.......................................

keeve

Hopefully this is the best of both worlds, locally we get development and jobs and somehow we get some improvements on CDA1. Not sure how as PW own nothing other than a piece of land at the entrance to the golf course, Al Kasar and some apartments on Naranjos. I hear Polaris were bidding for the building contract for the Paramount Park.

The Banks own CdA 2 so can sell it off to the highest bidder and maybe they will. Its no longer CdA2 really anyway so we could end up with another resort next door. I imagine the Banks could sell off the land around our golf course and where Mirador should have stood and possibly that could be the best thing for us. Its just unlikely they would keep to the Polaris style.

I'd like to think that Polaris would come back and start to re develop CdA1, but I just dont think they are financially viable anymore.

Tony,  yesterday I read some so very similar comments on a property forum (more dedicated to property purchases for investment) that I'm hard pushed to think it wasn't you posting... but, dont you think PW will have a buy back arrangement with the Banks for different parcels of land.  We know they have a 4 year buy back agreement for the sports zone maybe it follows they've done that  arrangement across the land for Condado? This would mean they could potentially repurchase smaller swathes of land than they had before- but fitting for their financial status now and hopefully kick start redevelopent on CdA.

Either way if this theme park actually happens then it will bring jobs and potentially investors and visitors to the area.

The news has to be good for us and having the development up the road is not that bad.

I hope that when the Alhama council start granting approvals for more housing they force developers to  complete our Resort first before allowing new resorts to spring up?

After all we are the nearest community to the proposed Paramount?

In terms of Rental and Property increase it will make little different here or there (assume finance is raised and it gets built)

If it does start to materialise then many Job opportunies will imerge for those who want to live here so start learning Spanish now?

I hope that some developer (Preferably not Polaris) will take up the development of Condado and Finish what we were expecting!

More houses = More People = less Community fees = More facilities = Happy Owners

Caught out I think Jann...... but PW are a worry , dont see or hear much in the news or financial reports about them.

However Mick is correct in that having the development up the road is good news. On the theme park the rental rates will be high, Condado can charge slightly less and probably get regular rentals. We wont have the hassle of the theme park but  the benefits could be great

We may however have block booking of the workers  during the building process,  so that may not be goods news for residents or those who aren't looking for a rental income (or those who are: but have equipped their apartment with style inmind)  but it wont last forever- maybe a couple of year then a refurb and good as new.

I'd be interested to know if a developer could take over CdA and continue the developement- I think PW would resist that with every fibre of their being but what do I know, and after all the Banks own everything, or do they?  Are they just holding land for PW to cover their debt but will  return land to PW or sell on to to other developers?

I dont care too much about CdA2 . as was, I think its lost to us but I would like PW to finish CdA1 as best it can as I  dont know what another  developer might come up with around the golf course and where Mirador was to be.  Dont fancy high rise on CdA!

I agree with the comments made that the unknown for CDA is Polaris.  What agreements do they have in place for the future and are they even interested in CDA now.

My view is that for anyone not renting out their place the news is about perfect.  Plenty of people will want to visit Paramount but not necessarily stay there, or maybe just want cheaper alternatives so some rental opportunities.  Either way I think it should lead to more numbers on CDA and if Polaris decide to offer some more services (or stop restricting others from doing so) things could improve nicely.

I think I actually prefer the "chosen" spot better than having it in our backyard.

It ain't over till it's over and I'm not sure it's over.........................yet. Still not signed yet if you read latest news and papers. I recall Paramount wanted 3,500,000 m2 (for the first phase only and 6,000,000 m2 including 2nd phase) and  Sierra de Alhama is almost 1,600,000m2 nothing about the land on other side of road.

My opinion..............this still has a very long way to go. However, I would not complain if it is just up the road as we would get the best of both worlds. Nothing is certain.

http://www.paramountholidayrentalsspain.com/spanish-life/paramount-theme-park

La Verdad also has some greater detail today- although they say the same thing in that the deal is closed for the Sierra Golf land and progress is being made on the second piece of land. Other links talk about the need now to raise the euro billions to finance the park and the fact that the plans are expected in April/May

Today I actually got this information from a Maltese website- so the word is definitely out there, whether it reaps rewards is another matter but we must have our fingers crossed.

All that talk about the Park coming to CdA is likely to have been a red herring as far as I'm concerned as IRM clearly wanted around 350 million euro's and by all accounts this land has gone for much less. IRM have seen the sale of the land to other developers as much more profitable to my mind.

As this moves forward I'll be watching what happens on what was to be CdA 2 with interest- I'm hoping CdA1 wont be left behind and that PW or the Banks can move the 'resort' forward. If the Banks can sell that land who knows what we will have next door, and if it has retail and food outlets all the better and nearer for CdA1 residents. Just got to hope PW at least expand outlets on Al Kasar and the Banks sell on the interior land to other developers or back to PW who at least develop around the golf course. Some plots of small villa's and landscaping would improve the appearance no end and increase the use of the resort- many people prefer villa's to apartments for holidays and that would give the resort another bite of the holiday market cherry.

Just on CdA2...is the access through CdA1?

I understand we pay for the upkeep and maintenance of the "ring" road , lights, and trees etc.  Would anyone developing and using the land be required to contribute or can they just use it for access anyway?

Does it make a difference if its a new developer and not Polaris?

I see the press reportsfrom Simply Networking today quoting Laverdad reckon the land for the site went for Euros 14 to 20 million.

If that's anything like broadly correct it's great news for the venture as it's a lot less than the Euros 350 million the bank consortium were said to be looking for and should help the arithmetic for the investors.

Ian

http://www.simplynetworking.es/news-5047-31-spanish_press_say_deal_has_now_been_finalised_for_paramount_land.html

Hi this may be of some interest, particularly the highlighted part about Murcia and the news of a legal decision regarding the banks and property deposits.

> Spain Property Alerts
>
> 4 February 2011
>
> Dear Spain Property Alerts Friend,
>
> I know we are all conditioned to believe that anything that is said by developers and agents has to be taken with a shovelful of salt. But…
> Taylor Wimpey de España, the largest British developer in Spain, is currently bucking the trend in Spain by launching three new developments. So, on the ‘money where their mouth is’ basis, what they have to say is, I’d suggest, worth listening to.
>
> ‘Undoubtedly the Spanish property market has been hugely affected by the global downturn but fortunes seem to be turning around now for the quality builders with some upward movement in the market. Spain is still one of the most popular holiday and second home destinations in the world for the British and a combination of property price reductions, decreased supply of property in the prime locations and a steady flow of serious purchasers has enticed home buyers.
>
> ‘Sadly, there are areas in Spain which are and will continue to be negatively affected by a mass oversupply of homes. However, in prime locations such as Marbella in the Costa del Sol or Mallorca, popularity with the British to own holiday homes or even live overseas, will maintain a steady flow of interest and ultimately sales.’
>
> Over at IPA this week, I wrote, the exact state of the property market in Spain becomes a little clearer this week with the news that the country's regional savings banks have been releasing figures relating to their books and exposure to bad property debts. It’s a little hit and miss but let me give you an example from the list; Name of bank: BBK; Total assets: Not given; Total loan book: Not given; Exposure to real estate loans: 3,574; Bad loans: 1,622; Percentage of Spanish banking system: 1.4. We have a fuller list which we can send out on request and, in due course, will have a fuller feature on this.
>
> Okay, SPA’s introduction of the month for February is a simple one. We can introduce members to, in UK terms, repo’ deals pretty much right across the country. These are heavily discounted and offer terrific lifestyle buys and, in some cases, investment deals. Now I need to be frank here and say we don’t want to hear from any dolly-daydreamers. If you are seriously looking to buy in Spain in 2011, drop me an email with a ballpark idea of what you want, where and what you have to spend. And, nine times out of 10, if you give us a week or two, I suggest we will deliver a range of properties that will include one that’s right for you.
>
> Also from IPA, an interesting court case comes out of Spain where it’s being reported that a bank, Caja Cantabria, has tried to avoid repaying deposits on unbuilt off-plan properties on the basis that the bank guarantees on these deposits had expired. The court upheld the national guarantee law whereby the guarantee period lasts until the investors have the properties they had paid deposits for. More to come on this shortly.
>
> I never thought I’d write ‘Murcia is hot’ again, or, at least, not for some time. It may not yet be hot but it certainly has all the triggers moving into place to suggest that it is, if not hot, at least warming up. I’ll quote various news reports here. ‘Paramount Studios’ theme park is expected to attract three million visitors a year.’ ‘The opening of Corvera airport near Murcia City is expected to triple the number of visitors to the region.’ ‘Further infrastructure improvements are also set to have an effect. Some €555.7 million has been set aside in Spain’s 2011 budget for improvements projects.’
>
> James Dearsley, European sales director at Atlas International says, 'There are many reasons why I believe Murcia, and specifically the South Costa Blanca, stands to gain in 2011. These include its national parks, beaches, championship golf courses, Government investment in the area, the opening of Corvera airport, a Paramount Theme Park opening in Murcia and the increase on competitive flights to the area.’
>
> If you’re looking for a little bit of (Spanish) lifestyle, Lonely Planet advises buying just 10 miles inland ‘to experience the true nature’ of Spain. Lonely Planet’s travel editor Tom Hall says, "If you are looking for a distinctive Spanish experience then you should try and do a little bit of exploring inland rather than just sticking to beaches. Exploring inland, for example if you're on the Costa in Spain, if you can go ten miles inland, you will often find a totally different place, a totally different atmosphere, still very traditional and very Spanish."
>
> With Best Wishes,
>
> Iain
>
> Iain Maitland
> Spain Property Alerts
 

Press conference called today apparently - hopefully results in some hard news for a change....

http://www.simplynetworking.es/news-5066-31-proyectos_emblemáticos_acquire_second_plot_of_land_for_paramount_development.html

From todays papers. 

http://www.typicallyspanish.com/news/publish/article_29090.shtml

some additional information

Land purchase option confirmed.

http://www.simplynetworking.es/news-5081-31-paramount_murcia_official_press_conference_confirms_land_option_agreement.html

http://www.propertycommunity.com/property-in-spain/renewed-optimism-in-costa-blanca-property-market.html

Further general info

All speculation, no land bought only option to buy. Paramount have to approve land. What happened to the 6 million m2 they needed and Ikm road around to fit all hotels etc. Sounds like this project is already being scaled down (circa 75%) before it's got off the ground.

I must note I'm all for it being up the road........................but I not counting the days or years as it's still an "idea" someone has.

It was always an 'option to buy' because the funding has to be raised befoe it can all be finalised.