02 Dec 2008 10:40 AM:

Our deposits were transfered from the bank to Grupo Sanchez  a year ago, when the first residence license was granted. Our understanding from our lawyer, is that we are bottom of the pile as creditors and not likely to get more than 25% of the deposit after another five years and certainly no interest. The administrators have now completed the bancruptcy report and the banks and subcontractors will be first to be paid. We still feel that the best option is to complete on the property rather than write off the deposit. That is the option we are following at this stage. We would welcome contact with other buyers on Elegance Dona Julia (phase 1). tel (44)1206 241117 

Forum thread: Elegance Dona Julia

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28 May 2008 11:54 AM:

hi - don't know about your development, but we started purchasing an apartment on Elegance Dona Julia (Developer Grupo Sanchez) in January 2004.  Phase I has been completed for 18 months, phase 2 half completed.  After MANY delays and problems trying to get in touch with the Developer by ourselves and our solicitors, we have finally found out that the Developer has filed for Bankruptcy.  We are suing for completion of our contract to take over the completed apartment.  Our solicitor advised trying to get our deposit back would take years and may not be successful (as our Developer has the Licence of First Occupancy they got our deposit!)  Phase 2 we understand will not be completed.  

The last six months have been very stressful - communciation with the Developer has been very difficult.  We know there was a lot of problems getting water and electricity to the sites but thought these problems had been solved now.

We have no knowledge of the hotel other than we were told a few months ago that it should be completed 2010.  Also the commercial centre.  Some people have moved into Las Vinas which is the development opposite the hotel also developed by Eva Marina.  
 It may be worth a day visit out there to go to the site and ask what is going on!
Good luck!

Forum thread: ?what is happening with Dona Julia golf developments in Casares costa, Malaga.

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13 May 2008 3:26 PM:

We are signed up for a property on phase 1 of Elegance DH. We have waited 5 years and like so many have suffered a lot of frustration, but are still hanging in as we like the property and have a great position. For us it was a longer term life style investment and we are now retired and want to get in this year 2008.

The latest news we have is Grupo Sanchez are in voluntary administration. The Administrator is now appointed and we have untill 25th May to pull out or continue. We are not confident that our deposit will be refunded and we are going ahead. Are we the only ones?

It seems to us that most of the buyers here are investors, who are now likely to make a loss on the current resale value.

If there are any other buyers out there similar to us and planning (or hoping) to move into phase 1 one day; we would like to hear from you. Date of posting 13th May

Community thread: Andrew John Thompson

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12 May 2008 12:00 AM:

We are buying on Elegance Dona Julia; phase 1 and things are going pear shape. The developer Grupo Sanchez is in trouble. We would like to communicate with any other buyers on this development.

Forum thread: Elegance Dona Julia

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