'Good News'

Hi Warren and Mowgli, you posted on this forum that Corvera has now received new funding from the banks and that work to complete the clubhouse will commence shortly, but i thought the new finance was simply to allow Corvera to pay the community charges they owe for the first six months of 2011, are you maybe putting 2 & 2 together and getting 5 ? Does anyone have any news or even rumours about what is actually happening ? It would be great if they are now going to complete the clubhouse and re-open the golf course, but i will believe it when someone actually sees action on-site. Does anyone have any further info ?

The money that Corvera have applied for is to cover all the infrastructure works required including operational costs associated with the clubhouse, not just monet to bring the community fees up to date

Hi Roy, That's good to hear, do you have any idea of timeline ? Such as when the work on the clubhouse will resume and when the golf course and golf shop might re-open ?  Apart from the Clubhouse and the Golf Course do you know if there are any other items of note in the plans presented to the banks ?

This message was last edited by simongolf on 29/07/2011.

Hi All, apart from the 'Good News' email sent out by housing has anyone else seen or heard anything about this new funding ?

If you look back to the posting started on 21st August 2010, you'll see that the same things were being said then - ie that the banks were going to give money in September and they'd build the clubhouse.

I can't see a bank putting money into this resort when they (at the moment 5 banks) are in difficulties and the country is looking for handouts to see them through.

No. Won't happen.

I suppose also a more cynical view would be that if they finish the Clubhouse, then at least that might take the wind out of the sails of people who are trying to get their money back  because of non-completion of facilties that formed part of the offering.    It might also fund the repatriation of Phase 3 (the unbuilt phase) deposits (just got a small interest in a property on this phase hence my interest in this topic). 

To be honest I don't believe anything any of them say - it's all hogwash!

Sandra

Hi Sandra

The cycle is broken. Corvera can't find the money to build the Clubhouse-they can't even afford to pay the community fees on time - they've cut all services to the minimum - and now things generally are worse. The banks are on the edge and Spain is in difficulties. Why would a teetering banking system put money into tottering resort? All the banks will get is a vast number of housing units which won't sell for years and banks need their liquidity. Banks will only lend when they are sure to get their money and profits.

Until they stopped posting on their website, CorveraGolf were promising the clubhouse every season - it'll be build next [...] (put you month or season of choice between the brackets.) I'd love to see the email from "housing" (of all people) which said that the Clubhouse was going ahead. Why would it be Housing? Why not sales or Corvera's Solicitor?

As for finishing to frighten non completers, it might be a motive BUT they know, and we know they know, that when they asked people to pay up, these facilities weren't there and here we are two years later and there's still been no change. How long do you wait for facilities to be available - what's reasonable? 18 months? 10 years? Some of us are young enough to be dead by then!

Ah! It's all washing a bit thin these days.

We have just received email via housing from Calidona that all bank loans have now been agreed and outstanding debts will be paid by Tuesday next week. No idea when clubhouse will resume build but assume not long now.

We believe works will start on the first week in September as they now have the necessary funds

 Will the golf shop and driving range be re-opening any time soon?

Ni idea

Hi all,

Hopefully we will see the recommencement of work on the Clubhouse (on another website a guy called Jesus from Calidona/ Corvera has said to another owner that this should happen very soon). Will wait and see on this myself, won't believe it till I see it (sorry for being such a sceptic!).

Theres also good news re the airport, please check out the link below -

http://www.simplynetworking.es/news-7662-31-corvera_international_airport_will_be_completed_this_year.html

Best to all,

Ian

Jesus is Corvera's' in house lawyer.

Nope, Jesus is Son of God, I've more faith in Him than Corvera being completed by Calidona !

oh ye of little faith !! Jesus made miracles happen you know After all we nearly have an airport that some say would never happen.

and a very impresive building it looks, they have clearly spent millions of euros, not only on the new airport but all the infastructure leading to the airport, major roads linking the airport to the major autoroutes new bridges, road lighting, the approach rd to the airport looks great, not quite sure what the statue/ emblem is meant to represent.

Corvera also looking good, gardens and flowers now looking established, golf course being maintained, lots more people on site.

All in all we were very pleased with corvera, i think i have been guilty of reading to many negative reports on this forum, our recent visit re afirmed our decision to complete.

Just to keep people advised that we receuived a confirmation last week that funding was agreed and today they have started construction work on the clubhouse and there are a lot of people working there and  materials being delivered

I  will update on here later with photographs

Absolutely fantastic news Roy, thank you for letting us know

I hope this good news makes those who are hesitant to complete go ahead. I can tell them that the place is absolutely beautiful.

Woo hooo - bring on the cranes ....what am I saying