1000 jobs go at Marina d'Or in Oropesa
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By h.b. - Apr 5, 2008 - 2:31 PM
The company admits that sales are down by 60 percent and profits at levels of three years ago

The real estate crisis in Spain has affected one of the largest businesses on the Costa Blanca, the Marina D’Or development in Oropesa, Castellón, which is now reported to have sacked 1,000 workers since last summer, most of them immigrants.

The company, owned by businessman Jesús Ger, now as a workforce of some 2,500, according to the General Manager of the Group, Federico Rivas, who was speaking to the Catalan TV station TV3. He said that sales were down 60% and profits were cut to the levels they were three years ago, but said that despite the slowdown they still have plans to build 40,000 more homes in Spain.

Most of the new development will be at Marina d’Or Golf, which will see the construction of three golf courses and hotels on a 16 million square metre site at Cabanes, close to Oropesa del Mar. The new project is reported to be linked to Mundo Ilusión, which is promoted by the President of the Castellón provincial Government, Carlos Fabra, and financed in part by the Valencian regional Government.

Marina d’Or also have plans to move into development in Morocco.

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Spain News : Costa Blanca

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