Marbella attracts major investment

Marbella attracts major investment

Marbella attracts major investment

We at Quantum Mortgages Spain are always happy to hear a good news story and there can be few more promising than the news that Abdullah Bin Nasser Al-Thani, the Qatari sheik who recently bought Mlaga football club, plans to invest a considerable amount of money in Marbella.

The town dates its initial glory days to the 1950s, when Prince Alfonso von Hohenlohe arrived in the former fishing community. Immediately sensing its potential as a sunny resort for the wealthy, he bought land and set about the dramatic transformation process. With the construction and inauguration of the Marbella Club Hotel, the anticipated influx of the beautiful people began and Marbella's name as a glamorous holiday spot was assured.

Despite his Germanic surname, Don Alfonso himself was half-Spanish, his mother being the Marquesa de Belvis de las Navas, and it was this pedigree that helped the town's rapid rise in popularity among the local aristocracy, such as the controversial bon viveur, Don Jaime de Mora y Aragn, as well as Europe's elite.

In 1974 King Fahd's arrival caused still more attention from international paparazzi. Rumoured to have arrived in Marbella with his massive retinue after breaking the bank at Monte Carlo's famous casino, King Fahd quickly established himself as one of the resort's biggest fans and set about establishing a permanent base. His eye-catching Casa Blanca, a smaller replica of The White House, became as much a staple of the Marbella landscape as Alfonso von Hohenlohe's hotel. King Fahd was reputed to be as generous as he was wealthy and it was rumoured that he kept dozens of chauffeurs on permanent alert in case his entourage wanted to go shopping. A tip from the Saudi royal family could be worth more than a year's salary for some lucky temporary employee.

The town's fortunes diminished somewhat during the 1980s, but it revived during the 1990s under the stewardship of the new mayor and showman extraordinaire, Jesus Gil y Gil. Although Gil was later largely discredited due to his unorthodox financial dealings, it cannot be denied that he had a profound influence on Marbella, employing offenders to clean the streets of rubbish and instituting a major beautification project. The town now technically a city was once more on the top of the list of desirable holiday destinations.

Yet standards cannot be maintained for long without regular cash injections. With "staycation" being the buzz word of choice for many tourism journalists it will be essential for holidaymakers to be persuaded that, while Cornwall's coastline is indeed beautiful, it cannot match Marbella for climate, activities or attractions.

The current mayor, Angeles Muoz, declined to give details of the precise nature of the recent investment but did reveal 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.

Mayor Muoz confirmed that Marbella's status as an internationally recognised brand was the main motivator behind this latest investment boost and it cannot be denied that it's name does connote romance and excitement.

Property in Marbella has again become a solid investment and if you are thinking of moving to the area we at Quantum Mortgages Spain can offer advice and help secure loans with the most favourable conditions available.

www.quantum-spain.com

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