While Canada-based Triple Five Group had previously proposed an integrated resort development in Extremadura, it now appears that the company is considering situating the project in neighbouring Andalusia instead. The company initially intended to develop the project in the town of Castilblanco in Badajoz province.
“We are searching for locations in Spain,” said Paul Watson, Head of Triple Five in Europe, speaking to Spanish newspaper Cinco Días. “We are looking at investment opportunities in Europe and Spain.”
He cited the firm’s American Dream Miami, a proposed megamall and entertainment complex in Florida – which if developed will be the largest shopping centre in the US – as an example of the scale of investment the company is considering.
“The cost of American Dream Miami is approximately US$4 billion. I hope our level of investment in this sector in Spain can be similar,” he added.
A dossier leaked to the local press in May, stated that Triple Five’s proposed development, dubbed EuroDreamResort, would include both a theme park and a water park, a formula one circuit, and an unspecified number of casinos, along with a shopping centre and exhibition space, an airport and a train station.
The group has now set its sights on the Costa del Sol and Cádiz to build its new IR project, according to unnamed sources. “The business needs to be profitable, something which would not have been possible in Castilblanco. It wasn’t the right location,” Watson explained. He added that the company had informed the Government of Extremadura of the decision to withdraw its proposal.
Source: GMB / Casino Review
