Former Polaris World Resort Commercial Centre Sold to Chinese Investors

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Former Polaris World Resort Commercial centre sold to Chinese investors

The resort was built by Polaris World in Alhama de Murcia, Region of Murcia
The purchasing power of Chinese investors is of constant interest to those attempting to attract foreign investment in Spain, and an example of this has come to light this week in the Region of Murcia where, according to the property administrators at Condado de Alhama, the Al Kasar commercial centre has been bought by a group of Chinese investors.

Until now the centre has belonged to IRM, which was formed to hold assets previously under the control of Polaris World, but few further details have yet been made available.

What has emerged is that the Chinese investors have purchased the whole of the Al Kasar complex apart from one unit, which was ceded by the developers to the Town Hall of Alhama de Murcia and which is now in use as an outlying council office where owners and residents at Condado de Alhama can deal with aspects of official paperwork without having to travel to the main offices in the centre of Alhama.
Currently the units which are occupied in the Al Kasar centre are all rented, and it is not yet known whether the tenants will be affected by the change in ownership.

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Interest in Spanish investment property has been increasing over the last few months as the economic situation in Spain improves, the real estate sector concurs that prices have finally reached a point at which commercial property becomes a viable proposition and residential property is once again attracting attention.

Other assets formerly owned by the Polaris World are still up for sale.

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