Marbella attracts important investment

Marbella's status as one of the world's greatest leisure resorts is well established

. Its streets are still lined with the best international designer boutiques, and the famous marina of Puerto Bans continues to attract some truly spectacular yachts. Among them, those of the Saudi royal family and their retinue, who remain regular summer visitors.

Even in the face of an international recession there is an air of confidence about the place, although it must be remembered that Marbella's glory days from the 1950s to the 1970s were succeeded by the 1980s economic downturn. This is not a town unaccustomed to bad times, but the gloomy economic forecasts propounded by the international media have failed to make much of an impact here.

The optimism that one witnesses on the streets, in the shops and the numerous bars, cafes and restaurants has recently been bolstered by the announcement that Abdullah Bin Nasser Al-Thani, the Qatari sheik who recently bought Mlaga football club, plans to invest a considerable amount of money in the town.

Details of this investment are still sketchy, but a spokesman for the Mayor's office has revealed that the project, related to the tourism and services industry, was in a very advanced stage' and that it would benefit the local economy greatly.

The past 12 months have proved a busy and challenging time for Mayor Angeles Muoz; her mission to improve Marbella's profile worldwide saw her visiting the New York Stock Exchange and, in the face of the Costa Blanca land ownership controversy, she was quick to issue legislation to protect the homes of many foreign buyers.

Now, with the additional investment from Sheikh Al-Thani, it looks as though Doa Angeles's hard work has paid off.

Despite Marbella's solid reputation as a glamorous destination, which annually acts as a powerful draw to international visitors and celebrities, the mood emerging from the Town Hall has been anything but complacent.

In April Mayor Muoz announced her "Open City" scheme during Marbella's first Annual Entrepreneur Assembly and promised that the Ayuntamiento (town hall) would do all it could to assist international companies to secure premises in the city's business parks.

Spanish property news website, Kyero, quoted a local source as saying, "Mlaga did this in the last recession and it helped a lot. Certain businesses tend to dominate in Marbella and Muoz is trying to get everyone to work together."

With a united front, yet more investment money and a name for quality that has lived on through the past five decades, one would have to be hopelessly pessimistic to predict that Marbella's future looked anything other than positive.

www.altavistaspain.com

Marbella attracts important investment

By: Altavista Property Spain

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