Alhouara

[ISW24]

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Thread re-created as previous one deleted due to username problems!!
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Hello all,

I am UK investor in the Alhouara project in Morocco. Developer is Qatari Diar.

There has been practically no communication regarding this development for almost 2years - with the local Sotheby's Realty (Sales arm) agency closing its branch in London and moving to Morocco.

I have kicked off several emails with Qatari Diar and Sotheby's (in Morocco) to find out what the latest is and find out where i stand with regards to compensation / cancellation etc.

If anyone out there has any updates on Alhouara, or still owns off-plan villas/apartments - please get in touch - it would be greatly appreciated.

Also, if anyone has managed to get a 'refund' - please let me know what process you followed / who you spoke to.

Lastly if anyone has any understanding of Moroccon law and delayed off-plan investments - i.e. whether this allows for compensation / reduced prices to investors - please get in touch.

Thank you - and i do hope this thread does not disappear again!!

Kind regards,

Irfan
UK

[rainer1]

Hi,

I have also emailed several times to find out what is happening but I have not got a relpy. I would like to keep in touch as there aren't many of us.

I emailed someone else today, I will let you know if I get any info.

[AL HOUARA 2012?]

I thought I may have been the only one hanging on .... it’s a little reassuring to hear I’m not the only one.

I too have made several calls to Morocco and Doha some of which have resulted in confirmation e-mails, which I must say sounded reasonably positive, given the overall situation. The last e-mail being from Qatari Diar on 11th August 2011 which read as follows:
I would like to inform you that the Beach apartment building(s) construction are planned to be started in Nov 2012 and completed in Feb 2014. The hotel and Golf Course will be completed within Q1 and Q2 of 2014 as well.

I would hope that coming from an organisation the size and stature of Qatari Diar that this would have some substance. Although I have established a couple of responses, communication on this project has been poor to say the very least. I too have thought of asking for my money back but have been reassured that this would not be a problem as my funds were safe in an Escrow account. I have asked for regular updates but these so far have not happened.

On the positive side the project should have a lot of potential if it is ever built to the standard intended. However, the market and currency levels have changed wildly since our initial investment. I discussed this issue with Qatari Diar and was lead to believe that investors who held on would be compensated and possibly even rewarded with club points … promises promises.

Besides significant compensation, what I would really like is regular progress updates and reassurance that the project is ongoing with no threat of cancellation, surely that’s not too much to ask.
It is a relief to share the burden.

We should continue to post!!

[rainer1]

Hi,

I haven't been able to get anymore information from them. Who is your contact there? Do you have an email for them?
I also know of one other person who is an investor, we have been trying to meet up to discuss what to do. We are both in London. Let me know if you would like to meet up. I will be in Morocco in July and may go to look at the development.
I am not sure how to send you a private message, otherwise I would send you my email address. If you know, then do get in touch.
Who did you purchase through?

I am also in the beach apartments but not part of the PURE scheme.

Look forward to hearing from you.