27 Jun 2009 6:20 PM:

Trevor

It is my intention to complete in July if possible, else shortly afterwards. My contract doesn't state anything about a hotel. But the stories about one have been around since the start of the project. Don't get confused over the permit to build a hotel, and the permit given to build the hotel according to the plans drawn up by the architect. The first one has been given, to my information, the second one Prosavi was waiting for when I visited the site last October.

I might be naive, but the 35% not sold are owned by Prosavi, so I would expect them to put up with the community costs linked to these flats as long as these have not been sold.

If the upkeep is poor, than Prosavi will have a more difficult job to sell the flats at the prices advertised. It is not in their advantage to see potential buyers change their mind on buying just before they enter the flats just because they see a dirty pool and poorly maintained surroundings.

I have not been given an estimate of the communal costs at any time. What have they told you?

milko

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Community thread: Almost at Completion

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19 Feb 2009 7:37 PM:

Crystal,

In September08 my lawyer mentioned a year instead of 3 months grace. Some judge in Spain would have ruled so because the many strikes in 2008 couldnot be blamed on or avoided by the developers, so they should not end up paying for it. I didn't ask for much more detail, as I felt the delay would help me get a mortgage at a later date when the financial markets might have quietened down and the ECB had more time to drop the interest rate. But I consider that last argument not valid for every buyer.

Milko. 

Community thread: Final payment.

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18 Feb 2009 9:12 PM:

Christal,

I have received a bank guarantee for the first (large) payment in 2006, but not for the second small payment (Dec07). Because they didn't/couldn't give me a bank guarantee for the third payment (Dec08), they offered me to keep the money until completion.

They might feel the financial cost to get the bank guarantees in place in the current financial climate is higher than the interest they have to pay on the same amount until completion.

Milko

Community thread: Final payment.

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04 Oct 2008 1:47 PM:

I visited the Medina De Banus development on 30th September2008, and just returned. The original plan I believe was finishing Q4 2008, with handover of keys planned for Q1 2009 after snagging list had been set up and dealt with by all owners. Now they have told me there is a delay until Q2 of 2009, but they could not go in any more details on what month the current time plan is working towards.
I saw that all the brickwork was finished, and they showed me the 2 showflats they are trying to finish asap, which were in further finishing state. That is: cubboards in, kitchen appliances ready, doors and windows in, etc... I thought they wouldn't need much more time before they can put some furtniture in and have the show flat finished.
The pool still has to be built. There were plenty of people working on the site during the 2 (unannounced) visits I made.

The hotel is in a phase where they have drawings and a few coloured pictures, but they still need planning permission for it. They can show the pictures to visitors, but don't want to send any pictures out. I had the impression this was for legal reasons in case they want/need to change their mind on it. They have no doubt a hotel will come there in time. 

I was able to take a number of pictures of my flat-in-progress, and the showflat. I have not had time to download them and make them ready for forwarding on as I am in the process of moving house at the moment. If you are interested, let me know what exactly you are interested in and I will forward you the relevant photo's I have.

The site supervisor and the office administrator (I don't know her real title) were very helpful and positive during my 2 site visits last week. They claim to have sold a few more appartments since Spring08, and feel very lucky compared to other developers.
Milko

Community thread: Completion date

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25 Feb 2007 12:00 AM:

I have bought a flat in La Medina de Banus development, and am looking to get in touch with other buyers. I will be visiting the development last week of March07 to check on the progress of the construction. If any buyers will be there, or live in that area, I'd like to meet up and have a chat about it over a drink.

regards

Milko

 

 

Community thread: Visit La Medina de Banus

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