POLARIS WORLD EXPANDS FURTHER

News

Staff Reporter / 2008-08-03 15:32:36

The Polaris World Mar Menor Golf Resort is to triple in size.

The financial group has just been notified a loan they applied for has been given the go ahead. Bancaja, Banco de Valencia, Caja Mediterráneo, Banco Popular and Cajamurcia have all joined forces to lift this internationally renowned company out of the doom and gloom they were facing last week. The value of the loan is 241 million euros, with which the group plan to triple the number of apartments and villas on the resort.

This news will come as a big relief to many businesses in the area, as it will mean a huge influx of newcomers, all needing to buy furniture, food, cars, etc. Other people may however wonder why more building has been given approval when many are left empty and people are struggling to sell and when building projects in the area are going to stop.

Fortunately, the land on which this resort is built is pretty dry and barren, so wildlife will not be too badly affected.

Mar Menor Golf was the first resort Polaris built in Murcia. It is located in Torre Pacheco, 6km from the Mar Menor, 17 km from Cartagena and 29km from Murcia. The enlargement will increase the resort's size from 700,000 to 150,000 square metres. In a press release issued by Polaris, they stated that work had already commenced on the building work and that the first homes would be ready by 2009. The new phase will consist of 1,501 apartments designed by Melvin Villarroel, 296 villas and 73 commercial units. At present there are 742 completed villas. Polaris assures, in their press release, that 60% of the new homes have already been sold. Another change will be an enlargement of the golf course there to 18 holes.

Polaris describes itself as "the main European promoter of residential tourism." Mar Menor Golf Resort was opened two years ago and since then Polaris have built other huge residential complexes with hotels and golf courses: Condado de Alhama, Terrazas de La Torre, La Loma, El Valle, Hacienda Riquelme and La Torre.

Mar Menor Golf also consists of the 5 star hotel Intercontinental Mar Menor Golf Resort and Spa, with 64 rooms and one of the most advanced therapeutic spas in the area. Other attractions are shops, a wide range of restaurants, bars, a pool, a gym and a medical centre.

Tags: Polaris World, Cajamurcia Bank, Cam Bank, Banco Popular, Banco De Valencia, Bancaja, Mar Menor, Torre Pacheco