Jardin de los Reyes Development in Spain

[michaelbush]

Originally Posted by Lysos

Michael,

Please re-read my post. My investments are in the UK stockmarket i.e. in sterling. The market is down 10%. If I sell my holdings I get sterling; still with me ?. If I want to buy property in Spain (or anywhere in the Eurozone) I need euros; so, I have to exchange my sterling for euros (last summer the exchange rate was @ 1.45 to the pound, now it is 1.30); the pound is down @ 10% against the euro. Now, do you get it ?.

I re-read your original post and apologise for the misinterpretation- however, I wrongly assumed that you were already invested in Europe. In which case the opposite is the effect. I wish I had taken advice to switch into Euros myself!

[Lysos]

Sorry to confuse the issue, Michael. I do have investments in Europe, fortunately purchased when you got more euros to the pound. My point is that for UK investors the eurozone is now that much more expensive. As for cashing in my european investment to buy in UK, despite the bloodbath at the Bernard Marcus auction last week I think the UK property market still has a long way to fall. There are times when it is better to be on the sidelines.

[michaelbush]

Originally Posted by Lysos

Sorry to confuse the issue, Michael. I do have investments in Europe, fortunately purchased when you got more euros to the pound. My point is that for UK investors the eurozone is now that much more expensive. As for cashing in my european investment to buy in UK, despite the bloodbath at the Bernard Marcus auction last week I think the UK property market still has a long way to fall. There are times when it is better to be on the sidelines.

I agree-the UK has nothing to offer investors at present. For shorter term capital gain there is one investment that may be of interest, with finance available if required. This is the purchase and reform of Riads in Marrakech. If anyone wants the full investor report I can e-mail it (pdf file). Capital gains of around 30%-40% in around one year. Totally secure.

[Encarna Ibañez]

If you need more info on this I can sent it to your personal email adress.

[law]

Originally Posted by Encarna Ibañez

If you need more info on this I can sent it to your personal email adress.

Hi,Encama

better to write what you know for everyone in this wonderful Forum....

,,,,,,thanks,,,,,,

[Goldberg Global]

Can someone summarise the latest on this development. Thank you in advance.

[Investy]

Originally Posted by michaelbush

This is the purchase and reform of Riads in Marrakech. If anyone wants the full investor report I can e-mail it (pdf file). Capital gains of around 30%-40% in around one year. Totally secure.

Hey Mike, I'm investing in Morocco also, in the Med about 60km from Spain.

Best investment I've ever made, in the worlds greatest development called Saidia. Nothing anywhere in Spain comes even lose as the end user experience offers far more than any other development in Spain or Portugal.
Nice and safe also, and a very liberal cool area.

I got an on golf detatched 3 bed villa with own pool, all fully fitted (ultra modern unlike the chintzy stuff in La Manga and other Spannish developments), 5*, fully managed and maintained, grass garden, built right into one of 3 onsite 18 hole courses for £170,000!

And thats with the biggest marina in the Med on site being built, 11 onsite hotels (imagine the free marketing Ill benefit from), a large onsite hospital, and get this............ a 500 shop shopping centre with all the big brand names, plus on site football stadium, helipads, own 7km sandy beach, 2 massive French supermarkets, open air theatres, Olmpic standard sports facilities and dozens of sports and spa centres.

Makes Lamanga look pretty grim as it has no beach let alone a 7km onsite beach, no marina - let alone the biggest one in the med!

[Goldberg Global]

Morocco has some attractions for sure.

But dont cloud your eyes.

Morocco is not in the EU
It is not covered by the laws of the EU or the lifestyle

It is a different country with different customs

Every one has different tastes so great you have brought in Morocco but this is mainly geared to Spain and not promoting Morocco where there is a different area to talk about Morocco, thank you

[Lysos]

Well said GG.

There are enough separate forums on here without cross posting, which serves no benefit, and merely confuses the issue. This thread is about a specific project in Spain. Morocco is catered for elsewhere.

[SeanY]

Having spent the last few hours reading this thread(and it's a shame it has degenerated into a slaging match) I would love to hear the latest news on the development as I am considering investing here.

Perhaps andyk2 or someone with contact to the developer or developer themselves could answer some questions that have been raised by other posters for me?( I am quoting from previous posts below)

1. "Also the land will be registered under the plot owners names so if the development doesnt get the approval- then your left with a piece of land along with 499 others, that you cant do anything with!
If you then want your money back instead of the land then you have to go to court and put an embargo on the land then the government will try to sell it off for you- but this could take YEARS!! And theres no guarentee anyone will buy it back off you-if plannings been refused already!"
Is this the case? Could you clarify the position here?

2."And also the bank guarentee only applies between your first reservation and your signinh of contract and first stage payment!
Once you have signed the contract and paid the first installment they will register the plot in your name!!
Once this has happened and the plot is registered in your name the BANK GUARENTEE NO longer EXISTS-So you are on your own once you sign the contract basically-"

Again could you please clarify this for me, exactly what process ensues here?

3. "MC Consulting have committed to selling 1 in 10 of plots already reserved by clients after outline planning permission, and with a further 3.000 plots to be released, there is ample opportunity for this to occur (again, according to the marketing/demand). When considering the overpriced or overcrowded complexes of Polaris, Jumilla or Frondosa, the end product is very attractively priced"
How many plots have already been reserved? When you say MC Consulting have commited to selling 1 in 10 of plots already reserved by clients after outline planning permission, does this mean MC Consulting will only buyback 1 in 10 plots? If so how are these plots chosen by MC? Would you not consider this development to be overcrowded also,"a further 3.000 plots to be released"?

4. "For what I know JDLR will have hard times to become a tangible reality whitin a few years, unless the new law will be write off.
As I explained on my post, urban planning and land laws have drasticly changed last year, well after MC Consulting started drafting JDLR master plan.If they haven´t submmited to Almansa Town Hall their application of permits for their project yet...They will never be granted planning permit-
Remember golf courses CAN NOT have attached thousands of properties under the new law. Only hotels and leisure facilities. Simply speaking JDLR has been drafted regarding the former LEY DEL SUELO from 1998 (under the PP goverment) when developers could negotiate with local authorities the development of "leisure facilities" as golf courses along with 3k,4k-7k properties.Those days are gone, you jumped on the train too late.
Those are the reasons why Almansa Town Hall won´t grant building licence to JDLR as they would be breaching nationwide legislation that came strait from the Upper Chamber in Madrid.Trust me Almansa planning officer will not stamp that proyect. That´s business...sometimes you win others you lost."

Can you shed some light on this comment for me please? More rumours? I have yet to see a credible response from anyone around the isue of Building Lience and this above law?



Hopefully someone can answer some of the above. Apologies for the horribly long post, but I am genuinely interested in investing here.

I would love to have as much detail as possible on the development, If you want to PM me I will give you my email address.

Regards

SeanY