In Valencia, Spain, development mires region in debt

Valencia's City of Arts and Sciences, a seven-building complex including a planetarium and Imax theater, broke ground in 1996 with a budget of about $335 million, which eventually swelled to more than five times that figure. The development was just one part of the building spree that left the Spanish region deep in debt.
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( Angel Navarrete / Bloomberg / May 29, 2012 )

Valencia's City of Arts and Sciences, a seven-building complex including a planetarium and Imax theater, broke ground in 1996 with a budget of about $335 million, which eventually swelled to more than five times that figure. The development was just one part of the building spree that left the Spanish region deep in debt.

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