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THE 32nd AMERICA'S CUP:
This an event which. like the Olympics, is held every four years. It is a series of yachting regattas held in coastal waters. The honour of hosting the event goes to the winner of the previous event. In 2003, the hosts were New Zealand, and the winners were Switzerland - which, although it has plenty of most beautiful lakes, is completely landlocked!

Switzerland had, therefore, to ask another country with coastal waters to host the event for them - and they chose Spain, specifically Valencia which is a most beautiful town on the Mediterranean coast of Spain, just north of the Costa Blanca. Valencia is one of the most important ports in the whole of Europe and has a long and illustrious history going back over 2000 years. The Gulf of Valencia has one of the best sailing courses in Europe with reliable sea-breezes throughout the year, blowing constantly at 10-15 knots. As such, it is a first-class venue for the prestigious America's Cup.

The port will be expanded to accommodate 120 fifteen-metre boats on five new floating jetties, and a new dock will be built which will berth 30 fifty-metre boats. A new 400 metre canal will be built to take the boats from the inner dock to the sea - a journey which will take just 15 minutes.

There is an ambitious four-year schedule of regattas commencing in 2004, each one a distinct part of the drama of the 32nd America's Cup. The climax will be the Louis Vuitton Cup and the America's Cup Match itself in 2007.

As a result, property prices in the region of Valencia and on Northern Costa Blanca are rising fast, with many investors buying in bulk in order to sell at a profit in next year, or to rent out at high prices for the duration of the Regatta.

Official Website: www.americascup.com

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The America's Cup - Valencia 2007