Increasingly likely that Paramount Pictures will be constructing its first Europe-based theme park on a 3.5 million sq mtr plot of land adjacent to the new Polaris World Golf Course at Condado de Alhama. However the legal contracts are all still to be drawn up and until they are, and a number of minor problems not be ironed out, the alternative site of Fuente Alamo will remain as a distinct possibility.
The land chosen to house the theme park was formerly owned by cash strapped developer Polaris World although it now belongs to a consortium of Spanish Banks. It is very close to the almost completed Murcia International Airport at Corvera and less than 30 minutes travel from the coast.
To quote last weeks Leader Newspaper "Situated in one of the sunniest parts of Spain, the theme park will also provide about 20,000 new jobs. With Shrek, Pinocchio, Donkey and other Hollywood characters as neighbours there is likely to be a massive demand for holiday accommodation as families from across Europe flock to the area for theme park fun, golf and beaches."
Paramount Studios themselves will NOT be investing in the project. Instead the Murcia Regional Government along with what appears to be a group of investors under the name of Santa Monica Financial Services SA, will fund the project under licence from “Paramount Licensing”. It is therefore more of a Paramount-branded theme park than a Paramount theme park in its own right.
Let’s not get too excited yet as this is still at a very early stage so going by the usual timescales for large projects we’re probably looking at 5 years before this gets completed.
Paramount, like Disney and Warner Bros, has the name and the famous characters associated with the brand to ensure it gets a lot of interest, so in a way it is guaranteed to do well, especially in the early days I’m sure.
What Does This Mean For Those Renting Out Properties in Murcia?
Murcia already enjoys a considerable amount of tourism and the Paramount theme park is sure to become a “must go to” destination for visitors to the area. In fact, whilst foreign tourists go to Murcia to soak up the sun, they’ll soon have the option to visit the park whilst they are there.
This is going to be a huge selling point for those marketing their properties for rental in the area. No longer is it just about sun, sea, sand and sangria, soon there will be the option of days out at a top theme park in Spain. For those of us with kids, it really is a great selling point.
In terms of property values in the area until people can demonstrate that the park is bringing in huge amounts of people looking to rent apartments instead of staying at the resort.
