I did know about fadesa yes.
and i dont personally know the resort you are talking about.
However
1) Fadesa tended to be master developers and sell the internal sites to smaller developers. i would have though that if this is the case there then they will collectively either finish some or most of the facilities in order to sell their stock, or collectively buy the remainding land from "fadesa"
2) One of the brother sold their shares last year, which i have heard he will have to give most of this money back. so...
Investy, i have never said that there are not inherant risks involved, and in the case of owners on the Fadesa project, i cant see any quick resolutions.
But what is often fudged on these forums is that
1) A lot of people are speculating. On increase in prices and resales, which is risky whatever your are investing in.
Corn, Silver , Stocks there are no guarentees in life. ( but you can be sure forums on stocks and share would not be so morbid! and would recommend you either do a hell of a lot of good research or use a recommended ot acreditted professional to buy for you)
2) leisure buyers. Different kettle of fish. Then buy already built, exactly where you want it, dont consider resells etc, becuase this is entirely for your own personal enjoyment
3) Mix betwen the two Which you see a lot in overseas property.
Like i said the other day, if you have all these deals which are completed, or require no exsposure to risk in areas that will increase in value and have a re sales market, please let me know.
Or if you have suggestions of good areas to buy in please share,
A lot of developers are struggling now, as the effects of the world economic situation and the credit crunch hit.
It is not the hardest thing in the world to report on this, i just dont see the benefit or usefullness of it to continually be doing it on forums like this be honest!
This, i thought was a forum of like minded opportunistics interested in overseas property investment ops.
Instead of reporting bad news, why dont we all spend more time sniffing out good deals offered by these struggling developers!!
If Fadesa, or their adminstrators are selling off some stock cheap then i really would be interested
I would be interested to hear what other people think on this?
Investy,
As you probably know Fadesa have gone under, leaving half finished projects such as Costa Esuri, planned to have over 2,000 properties in all. Obviously, the promised facilities won't materialise and for those poor unfortunates who have already bought, what chance of resale ?.
