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The Cordish Companies, a US real estate developer and entertainment operator, is planning to invest at least €2.2 billion on a Madrid resort. The complex will create more than 56,000 jobs for the regional economy, the company claimed in a presentation. The project includes hotels, restaurants, stores, theaters, cinemas, gaming areas and even a circus.

The company has already presented the project to the regional government, which is controlled by the conservative Popular Party (PP).

Resort by The Cordish Companies in Madrid via El País - US developer planning mega-resort outside Madrid
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The offer, from a group involving Credit Suisse, is set to be over 200 million euros and is linked to the possible extension of the site.

Marbella Puerto Banús 300x200 - Multinational investment fund negotiates the purchase of Puerto BanúsBoth sides are acting in absolute secrecy, but the negotiations are happening. A group involving a Chinese investment fund, the holding company Credit Suisse and the Spanish construction company Fomento de Construcciones y Contratas (FCC) have presented an offer for the licence for Puerto Banús, which has been in the hands of a private company since construction of the site finished.

The offer was made recently and the deal could be concluded before the end of the year, according to sources consulted by SUR. Although they have no involvement in the negotiations, the Public Agency for Ports in Andalucía (APPA) as well as Marbella town council have been informed about the existence of the offer and the development of talks. Representatives from the group of investors have held at least one meeting in Marbella with the APPA.
...continue reading "Multinational investment fund negotiates the purchase of Puerto Banús"