Technology or industrial parks are tools and means provided by any government in promotion of small and medium scale enterprises with an aim to endorse overall growth by attracting foreign investment and creating job opportunities.

Parque Tecnológico de Andalucía (PTA) in Malaga is just an example how the business complex has created job opportunities for many young aspirants since its inception in 1992.

The Extension of the Andalucía Technology Park to Marbella in its mission for economic growth will also contribute largely towards employment generation and creation of a quality workforce. The Park in Malaga in partnership with University of Malaga has developed many cutting-edge technologies. Moreover, it’s the participation of students which has earned it the respectable position among all other Spanish universities.

Not only that but the Park gives opportunity to the university student to engage themselves in a range of development activities with the goal to obtain employment at the end of their study. Malaga University in coordination with multinational companies conduct research and training programmes on various fields such as information technology, telecommunication, biomedical sciences, etc.

Such “human capital” gain programmes aim to build a highly skilled workforce approved and recognised by the technology industry.

Presently, large enterprises based in the Andalucía Technology Park and the University of Malaga together provides high quality R&D environmenta to fresh graduates or diploma holders thereby enhancing the competitiveness of the vibrant workforce.

Hence, a technology park in Marbella means it will further create such advantage for youngsters thereby delivering economic and social benefit to the community. There will be a creation and promotion of a range of new career opportunities, not only for Spaniards but also for foreign students.

The culture of innovation and competitiveness will distinguish Marbella from the global workforce, and the proposed Technology Park in Marbella will have the same potential to bring Andalucía to the forefront.

Technological developments, successful businesses and job creation will add a lot to the Costa del Sol economy with high potential returns.

The success of the Andalucía Technology Park (Parque Tecnológico de Andalucía) in Malaga has now prompted the regional authority to open new but similar state-of-the-art facilities to promote business activities in and around the coastal resort town Marbella.

However, one of the best parts of the proposed project is that it will act as a catalyst to the real-estate market.

Tourism inflow and the popularity of Marbella as a second home to many foreigners, allured by its unique climate, have already made it one of the priciest places in Europe. And the establishment of an industrial or technological park will further alleviate the property market with rising demand of real-estate infrastructure in and around Marbella.

Presently, as per the planned outline, the park will cover some 197 hectares of land in the Guadaiza area of San Pedro Alcántara. As these types of park are usually formed with assistance from local authorities, the Junta de Andalucía will no doubt make additional effort in bringing urbanisation and development to the surrounding areas.

R&D and activities in the proposed park are linked to various other sectors for societal development programmes in a way towards innovative and sustainable development. Simply, the expansion of improved communication facilities will attract investment to the entire Costa del Sol region.

Many Britons in the last few years have moved to Spain for business purposes and are now quite successful in their respective endeavours. In a time when the property prices are skyrocketing compared to last five years, only those people will prefer to buy property in Spain who wants to settle here permanently. In a sense, they want to invest in the local market by making a significant impact to the Andalucía society.

The Junta de Andalucía’s effort in setting up a new technology park also aims to attract those people who want to invest in the overall growth of the region. Technology Parks equip a large group of entrepreneurs to work on their ideas of development and business expansion. And the extension of healthcare, telecommunication, and public transport along with a host of business activities together increases the value of the property of any region.

Today, the value of Costa del Sol property is not the same as in the year 2002 and again will not be the same after a couple of years. The market here has shown the signs of recovery after the economic meltdown, suggesting this as the right time for investment in Spanish property. Seriously, Costa del Sol will no longer be a holiday home rather a business-cum-recreation centre.

The autonomous government Junta de Andalucía on Thursday (October 15) declared the establishment of a brand new Technology Park in San Pedro, Marbella. During the Costa del Sol business awards ceremony, the announcement was made with high hope that the park would attract more inward investment and international people to live in the region full time.

As per the plan, it would be on the same model as of the Parque Tecnológico de Andalucía (PTA) or the Andalucía Technology Park, Malaga. The proposed innovative park in Marbella will certainly have significant impact on the Costa del Sol economy by opening up new business activities for those large number of expats living in the area.

The Junta de Andalucía is also excited to explore and exploit the vast wealth of business knowledge of the already established business communities in Marbella and surrounding areas. Tourism, along with the growing number of people moving to southern Spain for a better lifestyle under the sun has already amassed one of the most diverse populations in the whole of Europe.

According to the official figure of the Municipality of Mijas, the current population of the province comprises of about 43% of foreigners with Spanish residence. In fact, it is above the half way mark and the expat community certainly has significant contribution in the overall growth of the Andalucían economy. Hence, a technology park will work as a catalyst in moving the economy further.

Earlier in the month, Marbella Mayor Ángeles Muñoz had held a meeting with the current director of PTA to discuss the possibility of expansion. There was also talk on the financial aspects; the Park would be set up under a public-private agreement with the participation of Marbella Town Hall, landowners and the regional authority.

One of the vital aspects of the whole development and initiative for a new technology park in Marbella is to stimulate business activity by integrating ideas and investment of foreign residents in particular. Just like the earlier one, the Tech Park will avail technical infrastructure, science and research facilities to existing business houses to expand their activities and with special emphasizes on small and medium scale firms.

The Marbella Technology Park will definitely create preferential conditions for businesses thereby attracting investors, creating jobs and moreover promoting technological innovation, scientific research and development works. Hence, away from the tourism industry, there will be much more economic actions to dominate Marbella and Costa del Sol.