17 Feb 2009 2:21 PM:
Hi
We recently visited the development and things appear to be storming away - the pool, landscaping, paths, water features etc. are all being laid down. They have many new trees and plants to go in and new palm trees have been planted between the blocks. The builders are working 7 days a week and all daylight hours to complete - if they don't, they have to start paying the developer.
We were also told that the developer does not want to sell any discounted apartments and would prefer to wait until the market stabilises again. It seems they have sold enough to cover their costs. I believe the discounted apartments being sold is by a private buyer who probably wanted to flip the units to make a profit, however, in this market, it is unlikely. Saying that, though, with the drop in the pound, they would still be able to recoup their money with little loss.
The hotel, I don't think will materalise any time soon. They still have no building licence for it yet. However, I don't think it would be a point for negotiation if it is not in the contract.
BTW, Just wondered if anyone has recieved a bank gaurantee for their second stage payment?
Crystal
Community thread:
Final payment.
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