Polaris World sell Alhama land

http://www.murciagolfproperties.co.uk/Polaris_sell_Alhama_land

I thought that land was transferred over to the banks years ago? 

Polaris didn't sell off everything, they still retain ownership of a number of parcels both on Condado 1 & Condado 2.

The news reported here too:

http://www.murciatoday.com/polaris-world-sells-800-hectares-next-to-condado-de-alhama_18861-a.html

Be interesting to find out which bit of land was sold. Maybe it's the fields the other side of the motorway that runs next to the resort as they would be least likely to be developed in the near future? Although the link below says it's the land opposite La Isla where the 2 other golf courses were to go (but I thought IRM owned this land now).

Well the MGP link posted below says it is that land where golf courses 2 and 3 were meant to go but I don't know where MGP get this info from and it's not specified in the article that MGP refer to - http://murciaeconomia.com/not/18664/_el_ciruelo_compra_800_hectareas_a_polaris_por_20_m_euro__para_ampliar_su_produccion_de_fruta/

But if Samper's company Premursa does build the Paramount licensed theme park then the land between the RM2 and La Isla will be a lot more valuable than if sold it now to Premursa (who have already bought land for the theme park anyway).

Plus I thought IRM owned that part of the land at Condado after Polaris' administration? It was IRM wasn't it that offered to sell that land to Premursa (but at too high a price for Samper's liking)?

Hi mark.....tash & steve here,

When we had eaten at the bozzer the other month, the waiter (who has lived ther for 17 years) mentioned that polaris wonted way too much money to the site oppostie our island, so paroumount went looking ells where for there site!!

hope your all well....we also called up premusa and they said recriutment has not starded yet!! we are still hopfull. x

I would expect the sale has a buy-back clause at a small uplift in value.  Therefore if Paramount happens Polaris excercise option to buy back (or sell option to 3rd party) and still benefit from upside potential

markbentley - what on earth are you talking about???????????

You obviously have no idea of the history of this area!

Why would the sale of Polaris land have any influence on the future of Paramount, two totally different entities? The land Paramount originally wanted had already been handed over to the bank in lieu of the debit.

Youngers -   Paramount have not bought Polaris land – do not understand your comment at all!!!

Why would Paramount pay 20M for land when they have all they need for 11.5M? Samper has already committed many many €, 000’s to this project, to throw that away would be suicide.

He has bought 133Ha, why would he buy an extra 667Ha? Alhama have one disaster on their hands, planning permissions for a second would be very difficult.

The way the agricultural consortiums work here, I am fairly certain it will be a “no strings” deal.

And……Polaris paid a lot less than 20M for it………..

If the municipalities of Alhama, Mazarron and Murcia work together then there is no reason why a steady growth can not be possible; the Spanish know where rapid growth has got them!

Mazarron have transformed the Port, it now has the basis to become a thriving sophisticated holiday destination. However, the tourist season needs to be bolstered up with an alternative attraction! There are too many businesses, with, at this time of year, too few clients – some businesses will disappear this winter!

Alhama can contribute by supporting the Paramount project – it will generate employment, cash flow for local companies and rental potential for the surplus of holiday apartments.

Murcia can contribute by getting Corvera “off the ground” as it were – an international airport is very important for the ongoing development.

The days of large urbanisations like Condado and Camposol are over; they are lumbering fat ugly walruses, uncontrolled, disorganised and a drain on local resources, medical, police etc (what percentage of people do not pay IBI….!!!)

Small exclusive developments (max 500 units) need to be built – get some real money in the area – people who want the best will not even look at the likes of Condado or Camposol – “council estates”!

On the whole the ingredients are “in the pot”, just needs patience and support to see it through; the younger Spanish (35 and below) are embarrassed and frustrated by the old corrupt ways – they want change – they want to join the 21^st century – make some honest money and enjoy life.

Basically, if in the next 5 yrs this type of project does not come to fruition then it will be, not only the downfall of Murcia but the whole of Spain.

Believe and it will happen!

“Since you think you know it all” – far from it, I hope I will continue learning and absorbing information until the day I die.

40 cents/m² for that amount of land is a fair price, for smaller plots the price varies – anything from €1 to €6 – depends on the area, accessibility and most importantly water.

And why were the prices so low………………..because the Moroccans served their apprenticeship here, went back to Morocco, set up similar environments, then………..sell the produce here at half the price!!!!!!!!!!!!!

Bit of government support needed I think!