Paramount Murcia - Land Purchase Completed (nearly !!)

After the last minute delay last month in completing on the land at Alhama, yesterday PREMURSA had another go, and this time was more successful !!

Varying reports exist of this meeting online this morning and gleaned from these (and with thanks to babelfish for the language translations)  - see below my version of  the  "press release"

PREMURSA purchases Paramount Land

Wednesday 7th March 2012

MURCIA - The company Proyectos Emblematicos Murcianos S.A (PREMURSA) today finalised the purchase of 103 Hectares of Land in Alhama De Murcia for the construction of the future "Paramount Theme Park"

The sum paid for the land was 10.35 Million Euros, this was 5.5 M less than original price of 15.8 M Euros as not all of the land has been purchased at this time, 55 hectares is still outstanding for future purchase, this parcel of  land still has existing legal issues attached to it and is not available to notarize at this time. Despite this, the president and CEO of PREMURSA, Jesus Samper claimed this shortfall in land purchase would not affect the development of the project with the first stone envisioned within the next few months.  

The Murcian Culture and Tourism Advisor - Pedro Alberto Cruz also assured the assembled press that the first stone of "Paramount Park" will be laid in May of this year and the target date for the opening of the park remains at 2015.  Cruz continued to confirm the importance of this project to the Murcia region, a factor further strengthened by the involvement of the Ministry of Tourism who recognize and support this project wholeheartedly.

Paramount Park and LifeStyle Center is promoted by Proyectos Emblemáticos Murcianos S.A. (PREMURSA), a society formed by Santa Mónica Financial Services S.L., Región de Murcia Turística S.A. (REMUTURSA), and Institute of Promotion of the Region of Murcia (Info), that has an exclusively license with Paramount for the construction and operation of the park in Murcia for a period of 30 years.

Pedro Alberto Cruz - Murcia Tourism + Cultural Advisor

The new complex will include a theme park divided by themes into four areas, and two themed hotels, as well as the LifeStyle Center, a cultural, business and leisure area which will have seven hotels and a recreational area. The Paramount park and the first phase of LifeStyle Centre are expected to open in the first months of 2015. The entire project budget is €1.1 billion, according to Premusa, and more than 3 million visitors are expected annually.

Premusa is currently in the process of securing the additional €130 million necessary from external investors for this project to go ahead, “we’re on it” a source at the company told stated,  as soon as we have all the investors we will let you know.”  Meanwhile, a local Press report revealed Paramount will join the Premusa board to give more weight to this project although it will not invest any money into it.

Murcia Regional Culture Councillor, Pedro Alberto Cruz, said the project was “beyond the point of no return” according to local Spanish daily La Verdad.  Based on projects such as this one, Cruz maintains that “tourism will get us out of the financial crisis, because it has the capacity of generating short-term income.”  Although there is “currently not enough money for all the projects we would like to carry out” he admitted, “we will focus on strategic projects.”

These also include the Portman Bay and Cope Marina development which are “vital for the development of the region” he said. These will “provide Murcia with the best offer for tourists it has ever had, which will mean there is less competition” he continued.

In 2008, the Murcia Regional Tourism Department had a budget €140 million, which has now been reduced to €43 million. He said that tourism, farming and the food and agriculture industry are “the pillars on which the financial present and future of the region will be based.”

However, he also said that the construction sector “must recover, but keep to more moderate levels than in the past and attempt to diversify.”  Cruz forecasted that by the end of 2013 and the beginning of 2014, “we should start to see signs of improvement” in the region’s economy. 

He admitted that culture is “not currently the priority” but insisted that “we can’t let the crisis do away with culture, as this is the most important and long-lasting essence people have.” Regarding the opening of the Murcia Region International Airport at Corvera , he said that the opening was “imminent” and will be the “best way to improve tourism in the region.”  In the first three years, two million foreign visitors are expected to use the airport.