Paramount update

There's a wee snippet of info on condadodealhamaservices website today.

 

 

This message was last edited by fairway12 on 14/03/2013.

 Latest news regarding Paramount in the Spanish press is Paramount USA is thinking of withdrawing the licence granted to build a theme park in Murcia full story on the following web site www.tumbit.com/news/articles/7070-paramount-murcia-goes-pear-shaped.html 

Shame! Having lived in Dubai and driving past the entrance gates of a yet to be built universal film studios for the past 6 years and 2 lone dinosaurs on the emirates road signifying the largest dinosaur theme park in the world - nothing is a surprise to me.

When will that airport open?..

 It would be a surprise though if paramount would withdraw the license since they then would give other speculants stronger negotiationposition

lets hope that this is just a strategic move (if now its true) from paramount as an wake up call for the murcia decisionmakers (even though its impossible to make any financial decision of this kind without money)

I believe the license from paramount was only granted to Murcia on the assumption they fulfilled certain criteria in a 2 year time frame. This included, securing the funding and starting construction. I don’t think they have achieved either (if you don’t include the flags, tarmac, foundation stone and missing time capsule)

 

There were several regions of Spain vying for the converted Paramount License 2 years ago. Paramount will probably be looking at these other regions to see if they can deliver a park quicker than Murcia can.

 

Paramount have not invested a penny in this project, so they can happily walk away without losing any money and give their license to a more realistic proposal.

 

I would have liked Paramount Murcia to happen, but I, like most, never actually believed it would happen in the current financial climate.

 

Looks like they are extending Terra Mitica which is only 1.5 hours away, so that’s good news!

All property owners on Condado de Alhama would bet € 2000 was a fund in Paramount Park. It would raise about 6 milioner € which should be enough for investors so  the Paramount Park would be built.
The investment of € 2000, any property in CDA easily recoup through increased value of our apartments.

 

This message was last edited by blmlnd on 26/03/2013.

I think we are about 12 months into the 2 year period that Darren refers to. If this comment in Tumbit is accurate, and I don't think it is a particularly well informed publication, then it will probably be a way of pressuring the bureaucratic Spanish into pulling their fingers out.

That said without some major foreign investor coming to the fore, nothing will get off the ground. If they can't organise the opening of a completed project like Corvera, then this has very limited chance.

May be the Cypriot government may come to our rescue. By taxing savers it may encourage the Russians to think about investing elsewhere and in real estate and infrastructure rather than dodgy tax havens.

 

http://www.murciatoday.com/paramount-murcia-rumours-abound_15776-a.html

 

Well found Anita!

SD

Hi, just after looking through Google to find info on the possible withdrawel of licence for paramount. There appears to be quite a few sites with this story, but I have noticed that each site has the exact same story, the exact same wording, and the exact same pessimism. Looks to me like a press release from one source,that is anonymous and unverified, that everyone has picked up and ran with.  As Faulky said it is probably a way of speeding up the bureaucratic process which I hope it will, but the unfortunate thing about the story is that we have to ask ourselves , how many more missed deadlines can this Premursa get away with without looking totally amateurish in the eyes of potential investors, or have they gone past that point already?

As for the snippets of info on condadodealhamaservices.com site I think that would have to be taken wit a generous pinch of salt as they appear to give the rosiest and most positive interpretation on everything.
 

Just after reading that article that you linked to Anita, good find,

This message was last edited by ruairig on 28/03/2013.

Has anyone heard or know something new about Paramount Park?

http://www.murciatoday.com/6-constru...a_17380-a.html

I was under the impression one of his companies had gone bust so who knows. Do a search on Jesus Samper

http://www.tumbit.com/news/articles/7515-paramount-murcia-investor-files-for-bankruptcy.html. This is link for the bankruptcy..

However....Google also provides the following

Yes the park is going ahead. Confirmed that 11 contractors are in the picture for construction which is scheduled for september 2013 start... dont believe stories its not going ahead, as with many large projects it takes time to create interest and capital investment then mixed with financial climate. Apparently its still on schedule for opening 2015. see here. http://www.murciatoday.com/paramount...ia_6086-a.html

I would suggest a crystal ball for what is happening....or we just wait and watch till the Autumn.....