Supercar enthusiasts are in for a treat after the announcement of the opening of Spain´s first Mclaren car dealership on the 15th December at Guarnieri Concesionarios, San Pedro, Marbella. Prices for the exotic vehicles start at £310,000, and it is just another demostration of luxury brands flocking to Marbella as they see it as a centre for growth while other parts of the world experience tough economic times.
The Costa del Sol´s “Golden Triangle” which is formed by Marbella, Estepona and Benahavis is becoming more and more popular with wealthy Russian and Arabic investors. With regards to the Russian investors Ricardo Arranz from the Federation of Developers and Residential Tourism said “We are talking about a wealthy client who is looking for a specific type of luxury, highly priced property, and who already knows the areas they are most interested in”. A lot of local agents are now starting to take on Russian speaking employees due to the large number of growing clients – Metta Estates being one of them. The Costa del Sol has always been popular with investors from the Middle East with figureheads such as King Fahd of Saudi Arabia (who had a palace built here) regular visitors. But now the with “The Arab Spring” uprising occuring, wealthy arabic investors are flocking here as they see the Costa del Sol as a safe investment and enjoy the Moorish influenced culture, excellent infrastructure, and liberal Spanish attitude.
Apple are due to open their largest store in Spain in the La Canada shopping centre in Marbella on the 17th November. It will create 65 new jobs and has already got local Apple fanatics buzzing. Miguel Sanchez, a 21 year old local student said “I want to be the first person into the store and will queue overnight if necessary!”
It is yet another bold move by a global giant investing in Marbella. Local businessman Diego Lopez said “Having the largest Apple store in Spain come to Marbella only highlights the areas financial strength, these companies are not coming to other areas and although the population isn´t the largest in Spain it is a centre for wealth and large organisations such as Apple recognise this. Having them arrive can only be a good thing for my business and the area”
The huge store will be over 1700m2 and rumour has it that Apple will be unveiling something special not seen in other Apple stores. Watch this space!!
Article written by: Wallace Shawn
The Times of London
The Spanish economy is faring better than is widely recognised, with a banking system stronger than in many eurozone states, but the country still needs to do more, Ana Botín says.
“Spain has a lower debt-to-GDP ratio than most European countries. Spain has passed a balanced budget amendment, Spain has privatised the cajas [regional banks], we now have two big listed savings banks, which will bring market discipline to 50 per cent of the financial sector, and we have recapitalised most of the banks,” she toldThe Times.
“I think Spain has done a lot — but not all of the things that need to be done. The worry was not where it was today but where it was heading, and I think the measures that have been taken should give confidence that we are on the right track.
“Spain is going to grow almost as much as the UK this year. Exports have been going up — I know the UK numbers better than Spain’s now — by 20 to 30 per cent. This idea that Spain is not competitive applies to certain sectors, but not to all.
“Take tourism. We have 50 million visitors per year and it has been another record year this year. Prices have come down — maybe not enough, but they have come down. Spain has competitive service industries. A lot of industrial companies that didn’t export as they didn’t need to are now being very successful in certain export markets. Although we have to do more, we have to have labour reform.”
Ms Botín also gave a guarded welcome to the push by eurozone leaders to tackle the sovereign debt crisis: “It’s important that we get ahead of the market and that we get confidence. Many countries are doing their homework, but we need to work on both the markets side and the structural issues.”
Article taken from The Times of London.
MARBELLA will have an international business school, the town hall confirmed.
Marbella Mayor, Angeles Muñoz, signed an agreement to create the business school with Nest Investments Ltd during a meeting held in Qatar.
She also met executives from World Trade Center company in Qatar who are said to be interested in building a business centre in Marbella.
Muñoz is currently on an institutional tour of the Persian Gulf with Marbella Councillor for Tourism to attract investors to Marbella and will also visit Dubai, Abu Dhabi and Kuwait.
The objective of the trip is to make the most of the development potential afforded by the new General Plan (PGOU), especially in the Guadaiza and Holanducia areas.
They are also meeting with the Royal Families of each country, and with representatives of the Al-Thani Group, managed by Malaga Football Club owner, Sheikh Abdullah Bin-Nasser Al-Thani.
During this meeting, both parties expressed their wish for the project to enlarge La Bajadilla Port in Mabrella, which was assigned to the partnership between Malaga Town Hall and Al-Thani, to begin as soon as possible.
Read the original article by By Jennifer Leighfield of EuroWeekly News