Marbella news june 2011
ELECTIONS
In the latest municipal elections of 22nd May, the Mayoress of Marbella, Angeles Muñoz was re-elected for another 4 years. Therefore, the new planning of Marbella, approved last year, may continue its course giving security and stability to previous disputes re old building licences.
PORT "ALTHANI"
The Andalusian Government has approved a project for a luxury harbour presented by the Marbella town hall and Sheikh Abdullah Ben Nasser Al-Thani from Qatar. Sheikh Al-Thani is from the Qatari ruling family and is the owner of Malaga football club.
The new port will be located on the East entrance of Marbella town and will have 1.220 moorings. Of a modern and futuristic design, the harbour will have moorings for medium size cruise ships. A previous study made by the Tourist department of Marbella town hall revealed that these types of cruise ships cater for a more exclusive clientele and therefore more in line with a luxury resort such as Marbella.
The Sheikh's company has announced that a total of 400 million Euros shall be invested over a period of 4 years, by which time the project should finalise. The project will have a large commercial area, a luxury hotel and an underground car park.
The new Marbella port is seen as the spark which shall initiate new investments in Marbella. It is clear that at present this is the main investment projected in the Mediterranean and shall be a great plus to the luxury yachting harbours in Europe such as Monaco, Porto Cervo or Puerto Banus.
Click here to see a video on the new port
MARBELLA LUXURY WEEKEND
The first weekend of June brought together around fifty exclusive firms at Puerto Banus. These firms presented their most luxurious goods, whether it was jewellery, fashion or cars, in a weekend of extravagance and glamour, a strategy aimed at attracting wealthy visitors to the area.
McLaren presented one of their latest models and also on display was a Pagani Huayra, a limited edition car with a price of around 1.000.000 Eur.
Other firms that entertained their clients were Chopard, Cartier, Gomez y Molina, Tourbillon, Feragamo, Armani and many more.
EVENTS
April saw the Andalusian Tennis Experience with top female tennis players participating and a few weeks later the Volvo Match play was held at El Cortesín golf course with top players.
June has been a month full of openings and inaugurations preparing the way for the high season.
During the summer there shall be live concerts of George Benson, Joaquin Cortés and Earth Wind & Fire amongst others. There will also be a revival Queen festival at the beginning of August commemorating 25 years since Queen last performed in Marbella.
At the end of July there will be a magnificent event at "La Concepción" called Millionaires Night with a 20 piece orchestra and performing artists imitating Frank Sinatra and Barry White.
Recent rumours state that the daughter of Prince Salman of Saudi Arabia shall celebrate her wedding in Marbella early July. Many luxury hotels have already been fully booked by wealthy Arab guests.
MARBELLA REAL ESTATE
The market is definitely moving with a good number of sales completed over the last few months. Although parts of Europe and specially Spain still have economic problems, there is an air of optimism in Marbella. Many old timers remember how in the early nineties, Marbella was one of the first areas to step out of the recession.
The advantage Marbella has is that it caters to wealthy clients from all over the world. These clients are less affected by the economic problems and clearly see this moment as a window of opportunity. They see the potential of Marbella and have confidence that it will continue to be a luxury resort for many years to come.
They also know that there are some fantastic opportunities available in the market.
As a clever and wealthy client said to me the other day:
"People say that a real estate market is doing well when everybody is buying. I say, that is when the sellers are doing well. I like to buy when a buyer will do well and that happens when there are fewer people buying!"
If you would like advice on purchasing property in Marbella, send an e-mail to enquiries@villamarketing.com
For all enquiries send an e-mail to: enquiries@villamarketing.com
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