F1 is now very interested in Valencia to host a furure round of Formaula 1.
There have been many rumours of Bernie Ecclestone nipping in and out of Valencia for reconnaisance visits, although this has yet to be proven!.

Property around the City of the Arts and Scineces area will be a great viewing point for the race when it has been confirmed. Many of the apartments around the City of the Arts and Sciences overlook where the racing may take place,and the Americas' Cup port area will be a focal point too. F1 could become a very exciting event to add to Valencia's calendar.

This article taken from www.autosport.com tells the latest news:

Valencia to begin street track preparations


By Pablo Elizalde and Matt BeerTuesday, March 27th 2007, 12:58 GMT


The Valencian government has given the go-ahead for work to begin on the construction of a potential Formula One standard street circuit in the Spanish city.
Although Bernie Ecclestone recently played down the possibility of a Grand Prix being held in Valencia, a statement from the Generalitat Valenciana announced that moves to prepare the city for a future race would soon get underway.
"Given the importance that international sporting events are having in the city, it is deemed necessary to assign to the Transport and Infrastructures Council the development of the necessary works to host a Formula One Grand Prix," the statement read.
"The Transport and Infrastructures Council is assigned to carry out the required facilities to build an urban circuit to host, in case of taking place, a Formula One Grand Prix."
Reports in the local media suggested that a Valencia race could join the F1 calendar in 2008 or 2009 as a second Spanish round - either under the European or Mediterranean GP title - to capitalise on Spain's current enthusiasm for the sport in the wake of Fernando Alonso's world championship successes.
The potential street circuit would make use of some of the facilities developed in Valencia's port area in preparation for the city's hosting of the America's Cup yacht race.
McLaren carried out a demonstration run on the streets of Valencia as part of their 2007 launch event in January, but Ecclestone told Autosport at the time that this should not be seen as a dry run for a future GP.
"We have a race in Spain already," he said. "And Valencia's suitability as a Grand Prix venue has nothing to do with what went on at the McLaren launch.
"Either the place is good or it isn't - and we still have to see."




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