The Americas Cup comes to Valencia |
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On November 26th 2003 the city of Valencia became host to the 32nd Americas Cup, defeating the other three finalists, Naples, Lisbon and Marseille. The first regatta will take place on June 23rd 2007, while before that, on May the 16th , the 7th Louis Vuitton Cup will commence.
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The Americas Cup competition in Valencia will be more exciting than ever since it is the first time that it will be held in Europe. Furthermore, the wind conditions in Valencia and the rules concerning the design of the yachts, rendering them sturdier and less prone to failure will make the regattas breathtaking and television broadcasting, cell phone video coverage and webcasting of the races more spectacular. A great new element in this 32nd edition will be the celebration, from September 2004 until Autumn 2006, of eight or nine different regatta periods, half of which will be held in Valencia, each lasting one or two weeks between the participating teams. |
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The port of Valencia will be completely refurbished, including a navigable channel that will separate leisure craft from commercial maritime traffic, a club with a floating dock in the port’s inner harbour, a heliport, a guest area, a hotel, a spectator’s area with a capacity for 8,000 pax and a boulevard for restaurants, open-air cafés and bars, shops and leisure facilities. |
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Moreover, 3,620 residential properties will be built in El Gao and Las Moreras. All of the above represents a significant change in the cityscape, affecting Avenida de Francia, la Ciudad de las Artes y las Ciencias, and the districts of El Gao, Las Moreras, Nazaret and el Cabanyal, which will all become a real part of the city. |
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José Ramón Pons, President of the Colegio de Agentes de la Propiedad Inmobiliaria, (Professional Association of Estate Agents), has stated that holding the America’s Cup will result in thousands of middle- and superior category properties, which now stand empty, coming onto the rented housing market. Furthermore, Pons believes that the whole of the area surrounding the Port will be dramatically upgraded. He has commented that there will be a large increase in demand for housing in Avenida del Puerto and Poblados Marítimos which will obviously lead to a rise in prices in these areas. However, he is of the opinion that it is too early to say by how much such prices will rise.
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