The issue with Eurovegas seems to be growing by the day. As you probably know it is pretty much confirmed that it will be in Madrid, to be precise Alcorcon, a municipal district of the capital. What I was shocked by when I read the article in Expansión the other day was that he wants a whopping 40% of the entire district's land; 12 million square meters! And for it to be converted from rustic land to building land, something the Spanish are great at doing, so that shouldn’t be a problem.
However the whole project is clearly a great opportunity to generate Jobs and bring foreign investment, but can this controversial businessman be trusted? This would be the biggest urban development in Spain since the 1992 Olympics. His original pitch was 250,000 jobs, which are now down to 14,000, and his initial investment was $21 Billion, which has now dropped to $7,3 Billion, of which two thirds would now have to be put up by Spanish Banks! Just as well they have the money! So much for foreign money coming in! This guy seems to be under continuous scrutiny in the States, China and so on, but here Madrid seems to be bending over backwards. Do you think its desperation and that they seem to think they’ve found the answer to all their problems? Or it is this just another fantastic opportunity for just a few to get very rich?