Tabernas Gabo de Gato in almeria

Hi

I recently have switched to a villa on this complex, from ACC as the work has been halted for some years

can anybody give me the latest news with the developments on Tabernas?

The current news is that negotiations with a new partner and finance is completed or near to completed and that a re start will be in September 2009

However this may or may not be the case

The building stopped due to the credit crunch unlike ACC which was due to the problems with the planning permission

as far as I know all lawyers who have looked at this development at Oasis by Huma Indalo SL have confirmed that all the permits are legal

But in the last quarter of last year banking finance to most residentail developers world wide was put on hold ,HUma Indalo SL and buyers here were caught out with this

No one knows when it will re start but it is a very attractive development with many buyers wanting it to go ahead and I think it will but I also think that it will be early 2010 before they fully re start as by then the Spanish economy and the rest of EU , where the demand comes from. will be coming out of recession , and the banks will be prepared or perhaps able to provide the finance

If you had a bank guarantee with ACC then you should exercise it and perhaps also keep an option on Oasis ,as many have already done

If you feel that you are on your own with this ,as your agent has gone out of business ,which applies to quite a lot of buyers, by all means give me a call and I can go through with you everything I know

Lawyers say all legal permits should check certain things. To be legal permission to work must be completed works of urbanization - which are not - or if it must deposit with the municipality a bank guarantee to ensure the realization of these works. Make sure in the City of Tabernas, which has constituted the guarantee because this amount is very important and I have not done so because the works were stopped for not having paid to it sonstructores done so far - more than a million euros - and have laid off employees of Huma and also owe many will not pay wages. There are other issues for which it seems very difficult that the work continues because they have a lot of money to banks and that all mortgaged.