Marina d’Or, the monstrous new development in Oropesa, Castellon province, on the Costa del Azahar, has revealed that profits fell by 50% in 2007, leading to the loss of 1,000 jobs at Marina d’Or.
A spokesperson for the company run by Jesus Ger told Europa Press that the results were due to the “expansion programme the group has been implementing, and delays experienced delivering some apartments.”
Marina d’Or is possibly the biggest eyesore on the Spanish coast, not to mention a disaster for the local environment.
It’s also a mystery how Marina d’Or ever got the go-ahead from the Coastal department of the environmental ministry to build what looks like a wall of cement so close to the beach, when the law explicitly prohibits that.
Marina d’Or is implicated in ongoing investigations into urban planning corruption scandals, both in Oropesa and other parts of Spain like Cabanes. The owner of Marina d’Or – Jesus Ger – is being investigated for perverting the course of justice and influence peddling.
Marina d’Or plans to deal with the Spanish property market downturn by focusing on international expansion. “We are clear that the situation in the real estate sector means we have to make a big effort on the international front, and focus on our developments in the countries where we are present,” Marina d’Or told Europa Press.
That means Marina d’Or plans to increase its efforts to export its unattractive product to countries like Morocco, Brazil, Bulgaria, Egypt, Panama, and The Dominican Republic.