26 Nov 2007 1:37 AM:

An excellent post from Dr Ben Bag as always (although a little smug about his wood burning stove, I felt)

double_decker

Community thread: Help...! Drains...!

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09 Apr 2007 12:28 PM:

I agree that the apartments are overpriced and I suspect will have to be significantly reduced in price to sell. I suppose its possible that the land purchased from the racetrack may be developed into something that would make the Los Olivos site more appealing.

The clubhouse structure is finished and they are currently working on the inside. The exterior finish for the building needs to be completed also. Speaking to people living at HDA it more realistic that the Clubhouse will not be finished until late Summer or Autumn.

I have also heard a rumour that Caixa Catalunya are becoming upset with Armilar in that borrowing is increasing with little money coming back. Hopefully they will put pressure on the developers to put in more facilities and help sell the properties thay have already built rather than struggling to sell new phases. No one seems to know how much of phase 4 has been sold even though it is near completion.

The other rumour I heard whilst out there is that although Melia Group have agreed in principal to run the hotel this has currently been put on hold again.

On amore positive note if in the next 12-18 months the clubhouse and Spanish village is finished it should have positive knock on effect on the rest of the development. I hear that most of the commercial units have been sold and almost exclusively to Spaniards, which I think is good for the resort.

Community thread: Los Olivos

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07 Apr 2007 9:12 AM:

I have just been to HDA and have spoken to someone in the know. He assured me he had seen the signed contract between Armilar, the race track and the local council for the movement of the race track.

This means they will be moviing but when this will be is not strictly defined. However, the person I spoke to was confident they would be out by the end of the year.

The above information is also in the March issue of the HDA magazine.

The race track has obviously had a detrimental effect on sales of Los Olivos. I was informed that only 30 of 240 apartments had been sold so far.

If HDA is serious about competing with La Manga rather than the smaller Golf complexes (ie Polaris World, Serena Golf, Mosa Trajectom) it needs facilities like a tennis and football academy

Double_Decker

Community thread: Los Olivos

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