Expensive White Elephant

COMPULSORY PURCHASE: Generalitat ordered to pay more for Ciudad de la Luz land Expensive white elephant
THE Ciudad de la Luz film studios will cost the Generalitat another €20 million in compulsory purchase payments.
Built by the present regional government’s predecessors on the outskirts of Alicante City, the studios-which have become an expensive white elephant-were on course to become Spain’s Hollywood when they were inaugurated in 2005.
They closed in 2012, after Britain’s Pinewood Studios complained to the European Commission that Ciudad de la Luz received public money from the regional government.
The Alicante studios were then ordered to repay €256 million. The Generalitat has already paid the landowners €10 million.
The Valencian Community’s Upper Court of Justice has now ordered the regional government to make a total payment of €45 per square metre for the 2 million square metre site.
Thank you for reading this article, “Expensive White Elephant”. For more up-to-date news from Costa Blanca North, please visit The Euro Weekly News website.