Euro Weekly News - Costa del Sol 7 – 13 December 2017 Issue 1692

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7 - 13 December 2017

Weekend road chaos expected MOTORISTS have been warned to drive carefully as millions hit Spain’s roads during this week’s national holidays. Spain’s Directorate General of Traffic has estimated that around 6.7 million vehicles will clog its road network over the weekend, and has been warning drivers to exercise caution since Tuesday, especially in and around cities and the coast.

Record swoop ANTI-DRUGS police have claimed that a €210 million, six tonne cocaine haul seized in Algeciras is the largest this century. Investigators swooped on a Colombian container ship and found the drugs hidden in a shipment of bananas destined for Barcelona. Three people including one Spaniard, one Honduran and one Portuguese have been remanded in custody in connection with the raid.

COSTA DEL SOL

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€3.4bn takeover

New owner for Costa project By Matt Ford The firm behind Birmingham’s Bullring centre has agreed to buy the company backing the Costa del Sol’s most ambitious shopping project. And the €3.4 billion deal will see the creation of Britain’s biggest property business worth around €23 billion. It comes as Hammerson, which also owns London’s Brentford Cross centre, made the eye-watering offer to acquire rival developer Intu, the company behind a €650 million scheme to build what will be Andalucia’s biggest shopping complex in Torremolinos. The takeover will see Insu’s portfolio, including Manchester’s Trafford Centre and the Metrocentre in Gateshead, retain the Hammerson name. Hammerson chief executive, David Atkins, said: “Strategically it’s

Xmas Special

Photo by Intu/Hammerson

ISSUE NO. 1692

AMBITIOUS: An artist’s impression of the centre and (inset) Hammerson chief executive David Atkins. about acquiring more of the best quality shopping centres in the UK, but also it gives us a new market in Spain.” The 600,000 square-metre complex will include shops, restaurants, an artificial lake and a dry ski slope, and is expected to create around 4,500 jobs. After years of delays there has been significant progress in recent months, but the brakes have again been applied

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after the Junta de Andalucia on Tuesday approved Torremolinos’ PGOU Town Planning proposal, except for the plot where the centre is to be built. Located adjacent to the town’s Aqua Park, the regional authority is seeking answers to concerns over increased traffic at the site. But Insu’s director in Spain, Salvador Arenere, said that he hopes plans will be approved “within a matter of weeks.”


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