So it's now official - Paramount is here

I've convinced myself that it is an accounting thing that is holding up the confirmation.  If they sign the deal today then the banks have to recognise the loss on the land this year - if they leave the negotiation open (but agreed) until January they can book the loss in that year.

Hi all,

its just an obsevation but would it also bethe case  that the land deal will not be closed until satifactory financial backers can be found for the construction phase of the paramount park.

Ken.

Ken I think you're right.  I thought any land deal was to be an option to buy the land within a 12 month period.  That was to allow the financing of the project to be found.

So even if they choose CDA2 I think it will be several months before the land is purchased.

Just a quick observation. I love 'Simply Networking' as it is a very good source of information on a range of topics. But - the editorial staff in my view are very negative towards anything Condado or Polaris. I guess its got something to do with the very strong link they have with Camposol and there is an element of jealousy creeping into the possibility that Paramount is coming to the land adjacent our complex.

The only doubtful issue here is the investors and where will they come from? But if you stop and think about it, the concept is a 'no brainer' in terms of guaranteed return as even in times of recession, people still want their holidays and are prepared to spend accordingly.  The Florida market place is up for grabs and an alternative on the European doorstep will be much cheaper and accessible for many. There will be no shortage of major investors for this project.

Thing to do is sit back and watch with interest. It is amazing to see how many people still will pick holes in something even as it gains more and more credibility and momentum.  I myself won't fully believe it until the developers start turning soil, but in the mean time I certainly won't knock it.

Jon Faulkner

It may or may not be that 'simply networking' are a bit negative about CdA but it is hard to find anything that actually say's the Polaris land is the location for the theme park. Alhama gets mentioned but not specifically from the mouth of the Paramount excecutives. If it is to be on Polaris's previously owned land probably the Banks will pass over the land and become shareholders in the arrangement However often 'leaks' have a good source and CdA 2 as was has long been mooted as the destination for the theme park so maybe this will all come to pass. Earlier this week one of the articles talked of the possibility of land closest to CdA being a vast expanse of car parking and I'm not sure what's less attractive- the back end of a theme park or a massive car park!! Hoping for impressive landscaping and architectually designed hotels instead!!

Re the 100% mortgage etc. These will only be available to AAA credit risks who should not default.

Who would sign up for a mortgage nothing down (don't forget), so mortgage would be in the region of 500 - 600 per month + taxes etc. Pay all this for a year or so then decide that Paramount is not happening and then stop paying??? Not sure anyone who has a good credit rating would do anything of the sort and become a debtor.

It's a great deal for someone interested in long term investment. The days of making a quick buck are long gone and will never come back in the short or medium term.

Sorry......... that's a little too heavy for me............................... Paramount!!!!!    bring it on as soon as possible!!!!!!!!

These 100% mortgages are the on the properties that are going to have a 50% price increase from the new year ??? or are they on the properies that are sub 100k now.

I too, whilst I live in hope, will not count my chickens until it actually happens but I do agree with Faulky and it does appear just lately that there is an air of negativity from Simply Networking.  I look at Simply Networking every day and have done for the last 12 months or so although just recently I have been a little naffed off with the negative reports.  I accept you can't believe everything in the Spanish press and we need some cautious reporting but come on guys...!!!

Here's hoping but I personally don't care if it didn't come as I love it anyway

I guess it's down to individual interpretation but I don't find the Simplynetworking website negative at all, I'd call it more cautious than negative. I rather suspect his or her sceptacism of the Spanish press and not taking everything they say as necessarily being gospel is bourne out of experience rather than jealousy or spite towards Condado. 

Jon, I disagree that this theme park will give “guaranteed returns” and that investment is a “no brainer, even in times of recession”.

Look at Terra Mitica, just outside Benidorm. This park, formally owned by Paramount, went bankrupt before the recession, its changed hands several times since, but I don’t think its generating profits at the moment. What’s more this park is only a short distance from Europe’s busiest resort with 4 million annual visitors.

I think building a Park in Murcia, with a fraction of Benidorms visitors, in a time of recession does involve a considerable risk.

Also remember that family holidays (which the park would be aimed towards) are typically 1 - 2 weeks, I would imagine after 1 or 2 days in the Park, you will have seen everything, this would then mean board kids for the rest of the holiday as there is not a great deal of other attractions locally, compared to somewhere like Benidorm/Costa Blanca.

I hope this park happens, as I feel our urbanisation will remain a ghost town without it, however I will be amazed if they can find investors who are happy to pump their money into a theme park, in the middle of nowhere, with few visitors or large hotels, during a global recession.

I also think Simplynetworking are showing caution rather than jealousy, like the last cappielow says.

Darren, I would assume there has been some decent research into the parks viability.  And given the timeline of the project you would hope europe is out of the recession in the 5 years or so it'll take to open the park.  But I do agree its hard to see why they would be confident of success when other like ventures have failed previously.  I have no inside knowledge and can only assume they've done their homework.

I'm not quite in agreement about the lack of local attractions around CDA.  Sure you can't just walk places but our kids enjoy the beach, castle in Lorca, boat ride in Cartagena, and the markets in Alahama/Totana.  Not old enough for the horse riding/quad bikes type entertainment but thats available as well.  On top of that swimming and playing within a resort occupies a lot of kids.  And I'm sure there's plenty of stuff to do in Murcia as well.

I'm not a regular to Benidorm but my one visit there (and from what I've been told from friends) gave me the impression that a lot of the visitors to the area probably don't do much travel outside "Bar to Beach" and back again.  I think as our area differs from that it probably attracts people after something different.

I do agree that a healthy dose of scepticism is warranted given the various promises and rumours that seem to be commonplace in Spain.  But I remain hopeful it'll work out.