Polaris World talking to bank creditors, changing strategy
Polaris World, one of Spain’s biggest property developers, and one of the biggest in the world when it comes to residential golf resorts, is reported to be negotiating a debt-for-property swap with its bank creditors, according to articles in the Spanish press today.
El Castillo Golf Resort in Jumilla, Murcia, buyer on the warpath
“WARNING! DON’T BUY AT EL CASTILLO GOLF RESORT (JUMILLA, SPAIN)” are the first words you read at a new website set up by a furious Briton called Alan Ablett who is fighting to get his deposit back from a developer who he says has not even started building his home.
“In Jan 20007 we put [...]
Urban planning corruption leads to six arrests in Murcia
The Spanish police have arrested 6 people in Murcia on corruption charges, including Miguel Botella, the municipal architect of San Javier, a town on the shores of the Mar Menor, when Murcia’s main airport is located.
Town planning offices in San Javier and Fuente Alamo have been searched by the police, along with various [...]
Polaris World struggling to repay debts says local news website in Murcia
A news website in Murcia claims that Polaris World – one of Spain’s biggest developer with a focus on holiday homes – is struggling to pay some of its debts to local government.
Developers blame Greenpeace for property market deluge in La Manga
A group of property developers in La Manga del Mar Menor (Murcia) are demanding that the environmental organisation Greenpeace pay them more than 20 million Euros in compensation for sinking the local property market and causing “prices to plunge by up to 50%”.
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