Monday, May 05, 2008

Gran Scala - Spain's Las Vegas?

I note that the much touted Gran Scala project is now looking much like an outside bet. The developement set to invigorate Zaragoza as a Spanish Las Vegas style gambling and golf resort, now looks highly unlikely. A mixture of hyperbole and underfunding seems to be the cause.

Mark Stucklin notes in his blog:

The problem with ambitious plans like these, is they go nowhere without serious money and serious backers. It now looks as if the government of Aragon might have fallen for a bluff.

He continues:

...the company due to create and run two of the theme parks in the resort was only set up in Reno in September with capital of just 950 Euros.

Ehhh? 950 Euros! I think they need to spend a little more time at the roulette table. Or maybe they've spent too much there. Read more in Mark's blog.

On an unrelated note, Turkey's authorities have apparently suspended foreign property purchases. Read more here.

Anyone got any good news?

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