11 Feb 2009 12:00 AM:

Hello everyone,

I have been living at playa Macenas for several months curtesy of Med Macenas as part payment for late completion of the contract.

My advice to anyone who has a bank guarantee and is in the fortunate position of a missed completion date, to pull the guarantee without further delay and demand your deposit back. This should be a relatively straight forward process as follows, but check with your lawyer to make sure that your paperwork is in order:

First of all, get your lawyer to send a burofax to Med Group and the Bank issuing the guarantee informing them that they have missed the deadline and are in breach of contract. Inform them that you now consider the contract  terminated and demand the return of the deposit in full. If the Bank refuse to repay the deposit, your lawyer then needs take legal action against the bank (not the developer). This is a much quicker process which the bank can't win, therefore rarely defend, and just pay the deposit back. You are also entitled to 6% interest for the period that your deposit has been held and a full refund of the IVA paid, plus any court costs incurred. At todays exchange rate, you would probably make a nice profit on the money if you changed it back into sterling.

 

Community thread: Calling in Bank Guarantees at Playa Macenas

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10 Apr 2008 5:54 PM:

Hi

We haven't had a date confirmed even though our completion date has passed ie first Q 2008.

Anyone got any further updates - has anyone actually completed yet?

Bones

Community thread: Overview

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25 Feb 2008 7:14 PM:

New photos posted.

Community thread: Site Progress

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24 Feb 2008 7:35 PM:

Hi everybody, I'm in spain at the moment and the weather is awful, but the whole area looks very green.

Latest news from the Med Group is that the first villas are due for handover in April. The golf course is due to open in early June with two holes to be completed and open for next summer. Apparently you have to play two holes of the 16 twice to make up 18 until then. The club House is due to open in early June with partial completion, the fitness centre and beach type stuff (sailing etc) won't be up and running , but the restaurant, golf club, and swimming pool will be ready. The sports club won't be started until next year. The foundations for the hotel are in and they are working on the concrete skeleton at present. all in all the whole development is starting to look good, (still looks like a building site, but one with potential to be a very good investment potential in three or four years time). I tried to upload some photos but my laptop doesn't  want to play that game, sorry. Apparently, the med group have paid the local council to carry out the work on the beach and underpass, but have no control on when that work will be carried out, oh, and have now decided to only restore half the beach with white sand and leave the rest natural, (I bet the half that will be retored with white sand will be the half by the hotel, so won't be finished until just before the hotel opens! But I could be wrong). All in all, I think that anyone who has reserved a property on this development has made a good investment and with a little patience, will see a very good return, and for those planning to use their property for holidays or to live in will no doubt love the development. The build quality is extremely high and the med group employees are very responsive.

Community thread: Site Progress

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11 Nov 2007 6:24 PM:

Thanks for the link - it would be fantastic if they did get permission to proceed.  Have tried to find anything on the internet but no joy! 

Community thread: Anyone know of a Gestor in the Andalucia region?

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