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22 Apr 2007 6:05 PM:

Even though Aifos are experiencing cash flow problems as far as I am aware the fate of Tordo, Pinto and Herradura rests on paper work rather than money owed to the town hall. Aifos cannot ask for any more money from any one who has purchased in Aifos Hipodromo until completion of the total development (ie all the blocks) and when the Town Hall has issued the Licence of First Occupation (Licencia de Primera Ocupacion). Without this Licence the Town Hall will not connect any of the apartments to the main services such as electricity, water and drainage so moving in before this is issued is nowadays impossible. (Also banks will not lend on properties that do not have one since the scandal in Marbella)
Your point about the perimeter blocks being finished a year before the others, I do not see as this being a major issue as many apartments down here have been built and left unoccupied for much longer times with out any notable defects. However, if in the event of Tordo, Pinto and Herradura not being allowed to be built (which I think is highly unlikely), it will be interesting to see what Aifos plan to put in their place and also how this will affect the value of the other blocks.

Community thread: Living in Spain TV

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20 Apr 2007 12:00 AM:

I am the owner of an estate agency in Fuengirola and have been based here in Spain for over 25 years. I have sold numerous units in the Aifos Hipodromo and even purchased one myself and after reading the posts in this forum I thought I would keep you up-to-date with what is happening there. 
Aifos were never granted the necessary permission to build Tordo, Pinto and Herradura from the very beginning way back in 2002 from Mijas Town Hall. Aifos maintain that they can have this decision overturned and seem fairly confident that they can do so.
In the meantime Aifos have been building the perimeter blocks, Derby, Alazan, Ascot and Brida. They hope that by the time these blocks have been constructed they will have been given the go ahead for the construction of Tordo, Pinto and Herradura, so along with Espuela and Estribo the completion for the whole development finished would be around mid 2009.
If permission has not been granted they will proceed with the construction of Espuela and Estribo (which have always had permission) to complete the whole project but with 3 blocks less the finishing date would be much quicker for obvious reasons.
For those who have paid deposits in Tordo, Pinto and Herradura, they will be switched to another promotion in the event of building permission not being granted.

Community thread: Living in Spain TV

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