Fadesa - Withholding Return Of Client Deposit Monies

[simon clark]

thanks for your reply

really hope you will be ok, But I am trying to make people aware of situation of many people who have purchased in Morocco, I am just trying to state that fadesa have held my deposit for 8 months and there is a number of clients in my situation and because of there financial situation I can not see as getting our money back for a long time, if only I made people aware of the situation hopefully this help you. I only have other peoples interest at heart

Simon.



I take exception to the fact that you have accused me of working for Fadesa!!!! I DO NOT WORK FOR THEM SO CALM DOWN!!!

I have purchased on the Atlas golf development, Marrakech and have already paid two installments towards my purchase, so I have many thousands to loose (like you). I have sent mails to the Fadesa representatives in the UK and the agent who I have purchsed off, and am awaiting reponse from both. As far as I am aware this situation should not effect the completion of the Atlas Golf Development as Fadesa have managed to re-negotiaite their debt payment terms with the creditors.

Building works have not stopped and still continue, until I am assured that Fadesa will complete the whole development I will make no further payments to Fadessa. I recently received pictures of the construction progress on the Atlas Golf Development and things seem to be coming along well. Please take the time and look at the Atlas Golf Thread where I have posted these pictures and you will see that I am not an agent or Fadesa representative!!!

 

[redangel7861]

really hope you will be ok, But I am trying to make people aware of situation of many people who have purchased in Morocco, I am just trying to state that fadesa have held my deposit for 8 months and there is a number of clients in my situation and because of there financial situation I can not see as getting our money back for a long time, if only I made people aware of the situation hopefully this help you. I only have other peoples interest at heart

Simon,

I hope things work out for you as well.

I'm sure that you and others will get your money back, but it may take some time. In my exeperience, developers are very quick to take your money but make it a very protracted task in getting money back (so Fadesa are not the only company who carry out this practice). I have also had problems getting deposits back form other developers and it has taken many, many months before I have recieved my money but I do finally get my money back. I have not had one instance where monies have not been returned to me, it just requires countless e-mails and phone calls.

I'm sure that the development is Saidia will be completed along with all the other major developments in Morocco, it just going to take some time.

Regards
RED

 

[Lee Filkins]

Redangle: I am replying in the interest of the forum. My reply in block capital for ease.

Camel.

I guess time will tell if the product is finished or not.

YES, TIME WILL TELL AND THE QUALITY OF THE FINISH AS WELL.



But it is my belief that 50% of Fadesa's Moroccan Assets were sold to Addoha

I, BELEIVE ADOHA IS OWNED BY A CLOSE RELATIVE OF THE KING. YES THE KING HAS PUT A LOT OF HIS REPUTATION. SADLY THE KING WILL NOT VISIT YOUR PROPERTY FOR A MINT TEA TO FIND OUT THE QUALITY ETC.

to protect purchasers against this very scenario.

AS FAR AS THE OVERHAUL DEVELOPMENT IS HANDED OVER THE KING CAN SAVE HIS FACE AND THAN FOR OTHER ISSUES, THE BLAME GAME WILL START AS TO WETHER THE FAULT WAS OF FADESA OR ADOHA.

If Fadesa fail to finish the product then Addoha will. As far as I am aware it is Addoha who are dealing with all construction issues in Morocco now and the buid in Atals Golf is coming along nicely.

I AM HAPPY FOR YOU.



One thing I find quite worriying about you is that you seem to take joy out of others mis-fourtune,

NOT AT ALL. IT COULD BE ME IN THEIR POSITION. WHEN I WARN PEOPLE I GET ACCUSED OF BEING AN AGENT, EX EMPLOYEE, HAVING AN AGENDA ETC. YOU WILL RECALL THAT I HAD INFORMED YOU /FORUMW ABOUT VAT ON RENTAL ETC AND YOU WERE VERY AGGRESIVE AND EVEN AGREED TO APOLIGISE TO ME, NEEDLESS TO SAY THAT YOU NOT MAN ENOUGH TO DO SO. SO KEEP ON WORRYING ABOUT IT.


I have been reading your comments and you have stated on many occasions "If you deal with Fadesa you deserve everything you get".

YES, I STILL HOLD THIS VIEW AND WHAT SYMPATHY DO YOU WANT ME TO PART WITH. WE ARE NOT KIDS HERE, WE ARE ADULTS IF YOU CANNOT HANDLE REALITIES OF THE COMMERICAL WORLD THAN PERHAPS YOU SHOULD BE ON A SITE WHERE PEOPLE PRAISE EACH OTHER. BUYING ON SALES TALK, GLOSSY BROCHURSES AND THINK YOU HAVE A GOOD RELATION WITH SALESPERSON SHOWS YOUR NEIVITY. THE SALESMAN/WOMEN IS THERE TO SELL AND YOU MAY BUY "X" PROPERTIES FROM THEM BUT HE HAS MORE TO SELL OF HIS EMPLOYERS. HIS LOYALITY WILL BE ALWAYS WITH SELLER. YOU ALSO DONT REALISE THE COMPANIES DONT TELL THEIR STAFF OF ANY BAD NEWS FOR VARIOUS OBVIOUS REASONS.

Now, I suggest you have a little more compassion and understanding or comment less on this issue if you can't add constructive comments.

I DONT NEED YOUR SUGGUESTIONS. MY COMPASSION WILL NOT GET SIMON HIS MONEY BACK OR OTHERS A FINISHED PRODUCT THAT THEY HAVE BEEN LEAD TO BELEIVE/CONTRACTED THAT THEY WILL GET AT A FUTURE DATE. IF REALITY IS NOT CONSTRUCTIVE, THAN WHAT IS ???

Gloating on other people's mis-fourtune is not the done thing.

I, TAKE OFFENCE TO THIS AND FIND YOUR ACCUSATION RATHER TASTELESS.


Like many institutions in the world, be it banks, Technology companies or construction companies (all other the world, not only Spian),credit is hard to attain.

AGREE,

Until the liquidity issue is remedied these companies will struggle in the short-term,

I AGREE, BUT CREDIT ISSUES, DOES NOT RELATE TO A COMPANY DOING BUSINESS IN A ETHICAL. TRANSPARENT MANNER, TREATING THEIR CUSTOMERS WITH LEVEL OF COMMERCIAL DECENCY. INFACT ITS TIMES LIKE THIS THAT A COMPANY WITH A TRACK RECORD OF QUALITY PRODUCT AND GOOD CUSTOMER RELATIONS WILL PULL IN THE REPEAT AND REFERED NEW BUSINESS.


but it is my belief that it is not in the interest of Fadesa,

FADESA DOES NOT CARE ABOUT ITS INTEREST IF THIS HAS NOT DAWNED ON YOU YET.

Addoha or the Morrocan King to have thousands of unfinished products and unhappy customers in Morocco, the king will just not allow it.

SEE ABOVE.

Now you seem to have a problem with people investing in Morocco

NOT AT ALL AND ITS LIKE EVERWHERE I HAVE INVESTED I HAVE DONE THE SAME RESEARCH AND HAVE SCRATCHED UNDER THE SURFACE. REMEMBER ALL THAT GLITTER IS NOT GOLD.

and have failed on many occasions to answer my question as to where you have purchased in Morocco.

I DONT NEED TO ANSWER YOU OR ANYBODYELSE, AS TO WHERE I HAVE INVESTED. I AM NOT CHILDISH TO TELL THE WHOLE WORLD AS TO WHAT TOYS I HAVE.

I have told you exactly where I have purchsed in Morocco and on what development,

AS A CARING PERSON, YOUR SECRET IS SAFE WITH ME.
why don't you do the same.

I DONT NEED TO EXCHANGE STAMPS WITH YOU.

With regards to me taliking to the agent, I am aware that he has no influence over this issue, but I have build up a good working relationship with him and I value his opinions.

PLEASE READ ABOVE.

I am in direct contact with Fadesa's UK office and will be persuing this matter further.

I WISH YOU ALL THE SUCCESS. NOW I AM NOT GLOTING AM I ?


I know that there is a full bank Gurantee on the
Atlas Gold development, provided by a 1st Tier European Bank.

HAVE YOU SEEN IT ? HAVE YOU READ IT. GUARANTEE'S ARE VERY COMPKLEX INSTRUMENTS AND EXPENSIVE FOR THE GUARANTORS.


The development is in the La Palameria region of Marrakech which is the most affluent area of this region.

I KNOW THE AERA, ITS A PITTY THAT FADESA WILL PROVIDE A SUB STANDARD PRODUCT IN AN AREA WHERE THE REAL ESTATE VALUE IS MATCHING MANHATTAN PRICES. NEEDLESS TO SAY THAT THE ECOMONIES OF THE TWO COUNTRIES ARE AT DIFFERENT ENDS.

I am convinced that the King will not allow an unfinished product in this region as it is the centre peace of the Marrakech area.

I HOPE THAT YOU ARE RIGHT.

Again, I am convinced and quite comfortable that I will get the product I paid for.

I AM HAPPY FOR YOUR TO HAVE THIS SMUG FEELING.

I believe the issue here is with people not getting their deposits refunded from Fadesa. I feel sorry for these individuals and I hope these issues are resolved soon.

NO COMMENTS, IF ONLY BUSINESS IS DONE ON HOPE.

 

[redangel7861]

Camel see my response below in Italics:

I guess time will tell if the product is finished or not.

YES, TIME WILL TELL AND THE QUALITY OF THE FINISH AS WELL.

Agreed



But it is my belief that 50% of Fadesa's Moroccan Assets were sold to Addoha

I, BELEIVE ADOHA IS OWNED BY A CLOSE RELATIVE OF THE KING. YES THE KING HAS PUT A LOT OF HIS REPUTATION. SADLY THE KING WILL NOT VISIT YOUR PROPERTY FOR A MINT TEA TO FIND OUT THE QUALITY ETC.

I'll offer him milky tea

to protect purchasers against this very scenario.

AS FAR AS THE OVERHAUL DEVELOPMENT IS HANDED OVER THE KING CAN SAVE HIS FACE AND THAN FOR OTHER ISSUES, THE BLAME GAME WILL START AS TO WETHER THE FAULT WAS OF FADESA OR ADOHA.

Time will tell, speculation on your behalf



If Fadesa fail to finish the product then Addoha will. As far as I am aware it is Addoha who are dealing with all construction issues in Morocco now and the buid in Atals Golf is coming along nicely.

I AM HAPPY FOR YOU.

I am also happy



One thing I find quite worriying about you is that you seem to take joy out of others mis-fourtune,

NOT AT ALL. IT COULD BE ME IN THEIR POSITION. WHEN I WARN PEOPLE I GET ACCUSED OF BEING AN AGENT, EX EMPLOYEE, HAVING AN AGENDA ETC. YOU WILL RECALL THAT I HAD INFORMED YOU /FORUMW ABOUT VAT ON RENTAL ETC AND YOU WERE VERY AGGRESIVE AND EVEN AGREED TO APOLIGISE TO ME, NEEDLESS TO SAY THAT YOU NOT MAN ENOUGH TO DO SO. SO KEEP ON WORRYING ABOUT IT.

I owe you no apology, and I make it a rule not to aplogise to egotistical abnoxious individuals


I have been reading your comments and you have stated on many occasions "If you deal with Fadesa you deserve everything you get".

YES, I STILL HOLD THIS VIEW AND WHAT SYMPATHY DO YOU WANT ME TO PART WITH. WE ARE NOT KIDS HERE, WE ARE ADULTS IF YOU CANNOT HANDLE REALITIES OF THE COMMERICAL WORLD THAN PERHAPS YOU SHOULD BE ON A SITE WHERE PEOPLE PRAISE EACH OTHER. BUYING ON SALES TALK, GLOSSY BROCHURSES AND THINK YOU HAVE A GOOD RELATION WITH SALESPERSON SHOWS YOUR NEIVITY. THE SALESMAN/WOMEN IS THERE TO SELL AND YOU MAY BUY "X" PROPERTIES FROM THEM BUT HE HAS MORE TO SELL OF HIS EMPLOYERS. HIS LOYALITY WILL BE ALWAYS WITH SELLER. YOU ALSO DONT REALISE THE COMPANIES DONT TELL THEIR STAFF OF ANY BAD NEWS FOR VARIOUS OBVIOUS REASONS.

I have purchsed properties all over the world...I don't need you to teach me to suck eggs

Now, I suggest you have a little more compassion and understanding or comment less on this issue if you can't add constructive comments.

I DONT NEED YOUR SUGGUESTIONS. MY COMPASSION WILL NOT GET SIMON HIS MONEY BACK OR OTHERS A FINISHED PRODUCT THAT THEY HAVE BEEN LEAD TO BELEIVE/CONTRACTED THAT THEY WILL GET AT A FUTURE DATE. IF REALITY IS NOT CONSTRUCTIVE, THAN WHAT IS ???

Kicking a man when he's down alos does not help, in my opinion he will get his money back..it's just a matter of time.

Gloating on other people's mis-fourtune is not the done thing.

I, TAKE OFFENCE TO THIS AND FIND YOUR ACCUSATION RATHER TASTELESS.

Don't really care if I hurt your feelings


Like many institutions in the world, be it banks, Technology companies or construction companies (all other the world, not only Spian),credit is hard to attain.

AGREE,

So we agree

Until the liquidity issue is remedied these companies will struggle in the short-term,

I AGREE, BUT CREDIT ISSUES, DOES NOT RELATE TO A COMPANY DOING BUSINESS IN A ETHICAL. TRANSPARENT MANNER, TREATING THEIR CUSTOMERS WITH LEVEL OF COMMERCIAL DECENCY. INFACT ITS TIMES LIKE THIS THAT A COMPANY WITH A TRACK RECORD OF QUALITY PRODUCT AND GOOD CUSTOMER RELATIONS WILL PULL IN THE REPEAT AND REFERED NEW BUSINESS.

Agreed, but my dealings with Fadesa have been amicable and I am regularly updated with build progress


but it is my belief that it is not in the interest of Fadesa,

FADESA DOES NOT CARE ABOUT ITS INTEREST IF THIS HAS NOT DAWNED ON YOU YET.

Again, speculation

Addoha or the Morrocan King to have thousands of unfinished products and unhappy customers in Morocco, the king will just not allow it.

SEE ABOVE.

Now you seem to have a problem with people investing in Morocco

NOT AT ALL AND ITS LIKE EVERWHERE I HAVE INVESTED I HAVE DONE THE SAME RESEARCH AND HAVE SCRATCHED UNDER THE SURFACE. REMEMBER ALL THAT GLITTER IS NOT GOLD.

irrelevant

and have failed on many occasions to answer my question as to where you have purchased in Morocco.

I DONT NEED TO ANSWER YOU OR ANYBODYELSE, AS TO WHERE I HAVE INVESTED. I AM NOT CHILDISH TO TELL THE WHOLE WORLD AS TO WHAT TOYS I HAVE.

Your choice

I have told you exactly where I have purchsed in Morocco and on what development,

AS A CARING PERSON, YOUR SECRET IS SAFE WITH ME.
why don't you do the same.

I DONT NEED TO EXCHANGE STAMPS WITH YOU.

Yawn..

With regards to me taliking to the agent, I am aware that he has no influence over this issue, but I have build up a good working relationship with him and I value his opinions.

PLEASE READ ABOVE.

I am in direct contact with Fadesa's UK office and will be persuing this matter further.

I WISH YOU ALL THE SUCCESS. NOW I AM NOT GLOTING AM I ?


I know that there is a full bank Gurantee on the
Atlas Gold development, provided by a 1st Tier European Bank.

HAVE YOU SEEN IT ? HAVE YOU READ IT. GUARANTEE'S ARE VERY COMPKLEX
INSTRUMENTS AND EXPENSIVE FOR THE GUARANTORS.

Yes, and am satisfied




The development is in the La Palameria region of Marrakech which is the most affluent area of this region.

I KNOW THE AERA, ITS A PITTY THAT FADESA WILL PROVIDE A SUB STANDARD PRODUCT IN AN AREA WHERE THE REAL ESTATE VALUE IS MATCHING MANHATTAN PRICES. NEEDLESS TO SAY THAT THE ECOMONIES OF THE TWO COUNTRIES ARE AT DIFFERENT ENDS.

Again speculation on your behalf...time will tell

I am convinced that the King will not allow an unfinished product in this region as it is the centre peace of the Marrakech area.

I HOPE THAT YOU ARE RIGHT.

Again, I am convinced and quite comfortable that I will get the product I paid for.

I AM HAPPY FOR YOUR TO HAVE THIS SMUG FEELING.

Not smug, my opinion

I believe the issue here is with people not getting their deposits refunded from Fadesa. I feel sorry for these individuals and I hope these issues are resolved soon.

NO COMMENTS, IF ONLY BUSINESS IS DONE ON HOPE.

 

[SallySlann]

Help

Hi, Can anyone tell me who is in charge of SAIDIA, Mari in London now does not return our calls and we are getting desperate for our cash. It is now nearly a year.

Has anyone tried going to Morocco/Spain to demand their money back?

What about a contact for king of Morocco?

Ahhhhhhhhhh!

Camel see my response below in Italics:

I guess time will tell if the product is finished or not.

YES, TIME WILL TELL AND THE QUALITY OF THE FINISH AS WELL.

Agreed



But it is my belief that 50% of Fadesa's Moroccan Assets were sold to Addoha

I, BELEIVE ADOHA IS OWNED BY A CLOSE RELATIVE OF THE KING. YES THE KING HAS PUT A LOT OF HIS REPUTATION. SADLY THE KING WILL NOT VISIT YOUR PROPERTY FOR A MINT TEA TO FIND OUT THE QUALITY ETC.

I'll offer him milky tea

to protect purchasers against this very scenario.

AS FAR AS THE OVERHAUL DEVELOPMENT IS HANDED OVER THE KING CAN SAVE HIS FACE AND THAN FOR OTHER ISSUES, THE BLAME GAME WILL START AS TO WETHER THE FAULT WAS OF FADESA OR ADOHA.

Time will tell, speculation on your behalf



If Fadesa fail to finish the product then Addoha will. As far as I am aware it is Addoha who are dealing with all construction issues in Morocco now and the buid in Atals Golf is coming along nicely.

I AM HAPPY FOR YOU.

I am also happy



One thing I find quite worriying about you is that you seem to take joy out of others mis-fourtune,

NOT AT ALL. IT COULD BE ME IN THEIR POSITION. WHEN I WARN PEOPLE I GET ACCUSED OF BEING AN AGENT, EX EMPLOYEE, HAVING AN AGENDA ETC. YOU WILL RECALL THAT I HAD INFORMED YOU /FORUMW ABOUT VAT ON RENTAL ETC AND YOU WERE VERY AGGRESIVE AND EVEN AGREED TO APOLIGISE TO ME, NEEDLESS TO SAY THAT YOU NOT MAN ENOUGH TO DO SO. SO KEEP ON WORRYING ABOUT IT.

I owe you no apology, and I make it a rule not to aplogise to egotistical abnoxious individuals


I have been reading your comments and you have stated on many occasions "If you deal with Fadesa you deserve everything you get".

YES, I STILL HOLD THIS VIEW AND WHAT SYMPATHY DO YOU WANT ME TO PART WITH. WE ARE NOT KIDS HERE, WE ARE ADULTS IF YOU CANNOT HANDLE REALITIES OF THE COMMERICAL WORLD THAN PERHAPS YOU SHOULD BE ON A SITE WHERE PEOPLE PRAISE EACH OTHER. BUYING ON SALES TALK, GLOSSY BROCHURSES AND THINK YOU HAVE A GOOD RELATION WITH SALESPERSON SHOWS YOUR NEIVITY. THE SALESMAN/WOMEN IS THERE TO SELL AND YOU MAY BUY "X" PROPERTIES FROM THEM BUT HE HAS MORE TO SELL OF HIS EMPLOYERS. HIS LOYALITY WILL BE ALWAYS WITH SELLER. YOU ALSO DONT REALISE THE COMPANIES DONT TELL THEIR STAFF OF ANY BAD NEWS FOR VARIOUS OBVIOUS REASONS.

I have purchsed properties all over the world...I don't need you to teach me to suck eggs

Now, I suggest you have a little more compassion and understanding or comment less on this issue if you can't add constructive comments.

I DONT NEED YOUR SUGGUESTIONS. MY COMPASSION WILL NOT GET SIMON HIS MONEY BACK OR OTHERS A FINISHED PRODUCT THAT THEY HAVE BEEN LEAD TO BELEIVE/CONTRACTED THAT THEY WILL GET AT A FUTURE DATE. IF REALITY IS NOT CONSTRUCTIVE, THAN WHAT IS ???

Kicking a man when he's down alos does not help, in my opinion he will get his money back..it's just a matter of time.

Gloating on other people's mis-fourtune is not the done thing.

I, TAKE OFFENCE TO THIS AND FIND YOUR ACCUSATION RATHER TASTELESS.

Don't really care if I hurt your feelings


Like many institutions in the world, be it banks, Technology companies or construction companies (all other the world, not only Spian),credit is hard to attain.

AGREE,

So we agree

Until the liquidity issue is remedied these companies will struggle in the short-term,

I AGREE, BUT CREDIT ISSUES, DOES NOT RELATE TO A COMPANY DOING BUSINESS IN A ETHICAL. TRANSPARENT MANNER, TREATING THEIR CUSTOMERS WITH LEVEL OF COMMERCIAL DECENCY. INFACT ITS TIMES LIKE THIS THAT A COMPANY WITH A TRACK RECORD OF QUALITY PRODUCT AND GOOD CUSTOMER RELATIONS WILL PULL IN THE REPEAT AND REFERED NEW BUSINESS.

Agreed, but my dealings with Fadesa have been amicable and I am regularly updated with build progress


but it is my belief that it is not in the interest of Fadesa,

FADESA DOES NOT CARE ABOUT ITS INTEREST IF THIS HAS NOT DAWNED ON YOU YET.

Again, speculation

Addoha or the Morrocan King to have thousands of unfinished products and unhappy customers in Morocco, the king will just not allow it.

SEE ABOVE.

Now you seem to have a problem with people investing in Morocco

NOT AT ALL AND ITS LIKE EVERWHERE I HAVE INVESTED I HAVE DONE THE SAME RESEARCH AND HAVE SCRATCHED UNDER THE SURFACE. REMEMBER ALL THAT GLITTER IS NOT GOLD.

irrelevant

and have failed on many occasions to answer my question as to where you have purchased in Morocco.

I DONT NEED TO ANSWER YOU OR ANYBODYELSE, AS TO WHERE I HAVE INVESTED. I AM NOT CHILDISH TO TELL THE WHOLE WORLD AS TO WHAT TOYS I HAVE.

Your choice

I have told you exactly where I have purchsed in Morocco and on what development,

AS A CARING PERSON, YOUR SECRET IS SAFE WITH ME.
why don't you do the same.

I DONT NEED TO EXCHANGE STAMPS WITH YOU.

Yawn..

With regards to me taliking to the agent, I am aware that he has no influence over this issue, but I have build up a good working relationship with him and I value his opinions.

PLEASE READ ABOVE.

I am in direct contact with Fadesa's UK office and will be persuing this matter further.

I WISH YOU ALL THE SUCCESS. NOW I AM NOT GLOTING AM I ?


I know that there is a full bank Gurantee on the
Atlas Gold development, provided by a 1st Tier European Bank.

HAVE YOU SEEN IT ? HAVE YOU READ IT. GUARANTEE'S ARE VERY COMPKLEX
INSTRUMENTS AND EXPENSIVE FOR THE GUARANTORS.

Yes, and am satisfied




The development is in the La Palameria region of Marrakech which is the most affluent area of this region.

I KNOW THE AERA, ITS A PITTY THAT FADESA WILL PROVIDE A SUB STANDARD PRODUCT IN AN AREA WHERE THE REAL ESTATE VALUE IS MATCHING MANHATTAN PRICES. NEEDLESS TO SAY THAT THE ECOMONIES OF THE TWO COUNTRIES ARE AT DIFFERENT ENDS.

Again speculation on your behalf...time will tell

I am convinced that the King will not allow an unfinished product in this region as it is the centre peace of the Marrakech area.

I HOPE THAT YOU ARE RIGHT.

Again, I am convinced and quite comfortable that I will get the product I paid for.

I AM HAPPY FOR YOUR TO HAVE THIS SMUG FEELING.

Not smug, my opinion

I believe the issue here is with people not getting their deposits refunded from Fadesa. I feel sorry for these individuals and I hope these issues are resolved soon.

NO COMMENTS, IF ONLY BUSINESS IS DONE ON HOPE.

 

[Lee Filkins]

subject

As you know that "Fadesa" has sold its Assets to "Addoha". They are probably in a flux at this stage. To the best of my knowledge Fadesa has not advised its customer of the change, its date or who is going to be responsible and from what date.

Going there will be a complete waste of time as the staff there will be the sales staff and would not have been told anything, in order to not to affect their sales.

 

[redangel7861]

Sally,

I would advice you to go down to their office in London and speak to them and if neccessary kick up an almighty stink.

Regards
Salim

 

[SallySlann]

London don't appear to be in charge of signing the cheques.

Carlos Sogos was to sign, then Jesus Jaen and now the new ownwr but we don't know where he is and Mari has stopped replying to us!

 

[Lee Filkins]

subject

Sally, by all means go down to their office and kick a almighty stink. Please note that others have or must have done this to Fadesa.

I know that they have done this in Spain. The senior staff does not come out of the office & send a junior to take the abuse of its customers. The junior staff just stands their totally dismissive, soaking in all the abuse. Fadesa is only cooperative until such time as the private contracts are signed.

Besides above, Fadeda is not in a position to pay as they have just renegotiated their credit to service with their banks to pay their interest.

The only way you will get anything out of Fadesa is to sue them.

 

[Lee Filkins]

London, was never in charge of signing the cheques apart from office expenses etc. I don't know who is in charge. Perhaps Mari has stopped replying as she does not work there. Remember when business is trouble the staff is the first to be on the chopping block.

 

[simon clark]

do you know a lawyer who can sue

I trying to get hold of a lawyer but without sucess do you know of anyone?

Sally, by all means go down to their office and kick a almighty stink. Please note that others have or must have done this to Fadesa.

I know that they have done this in Spain. The senior staff does not come out of the office & send a junior to take the abuse of its customers. The junior staff just stands their totally dismissive, soaking in all the abuse. Fadesa is only cooperative until such time as the private contracts are signed.

Besides above, Fadeda is not in a position to pay as they have just renegotiated their credit to service with their banks to pay their interest.

The only way you will get anything out of Fadesa is to sue them.

 

[redangel7861]

London, was never in charge of signing the cheques apart from office expenses etc. I don't know who is in charge. Perhaps Mari has stopped replying as she does not work there. Remember when business is trouble the staff is the first to be on the chopping block.

Mari, still works at the office, I just spoke to her yesterday. I also spoke to the UK sales Director yesterday.

 

[SallySlann]

And did they have anything positive to say?
Alex arroyo was it?

 

[redangel7861]

And did they have anything positive to say?
Alex arroyo was it?

I spoke to him with regards to the re-structuring of the debt. He stated that the debt had been re-structured and it was business as usual.

My questioning was more related to the Atlas Golf Development. I was told that it was ahead of schedule for AP1 apartments and they were looking to finish the build in December 08 ahead of the April 09 schedule.

In my opionion it looks like Adoha have taken over the build process in Morocco after Fadesa got a kick up the arse from the King. This in my opinion is the reason why Atlas Golf is ahead of schedule and they are looking to release AP2 ahead of schedule in a few weeks (although a British developer will be responsible for the build here).

With regrads to Saidia he was more vague and I did'nt press him as I have not purchased in Saidia (recently pulled out of the Athena development because of the problems in Siadia).

He stated that all constructors are having to re-organise their finances due to the credit squeeze, not only Fadesa and that business as a whole was running normaly (but then again he would say that)

Regards
RED

Edit: His name was Daniel,why don't you give him a call and see where you get. Again I would advice that you go down to the London Office as your first port of call, you may get some success

 

[Lee Filkins]

Good to know that Mari still has a job. This is the exact situation that a professional/caring organisation will do. It will reach out and set out its plan/and plan of action and assure the market & and its customers. ( no cutomer no market)

In today's time and as money is tight Fadesa does not have to put in an expensive advert in the papers. They just have to state it on their website.

 

[Lee Filkins]

"Athena development"
This is being promoted by a Spanish company from Seville. I feel it is a better product with a better finish. Sadly they are caught out by Fadesa's fall out on lack of infrastructure etc. If the infrastructure is done " Athena development"

 

[redangel7861]

"Athena development"
This is being promoted by a Spanish company from Seville. I feel it is a better product with a better finish. Sadly they are caught out by Fadesa's fall out on lack of infrastructure etc. If the infrastructure is done " Athena development"

Camel,

Agree, the Athena development was frontline golf and of good quality. But with the problems in Saidia, exchange rate problems MAD\GBP and increase in TVA, it was no longer economically viable, so I decided to purchase in Egypt, Hurghada instead.

 

[Lee Filkins]

UPDATE 1-Martinsa Fadesa debt restructure deal seen -sources | Industries | Financial Services & Real Estate | Reuters

 

[redangel7861]

UPDATE 1-Martinsa Fadesa debt restructure deal seen -sources | Industries | Financial Services & Real Estate | Reuters

Looks like the re-structuring of the debt is going to happen. Good news in that it secures the companies existance, hence people's properties will be completed.

 

[redangel7861]

More positive news on Adoha, as they purchased 50% of Fadesa-Morocc and own all of Fadesa's assets in Morocco. They are now responsible for construction of Fadesa's developments in Morocco:

Moroccan property firm Addoha 2007 net up 36 pct | Industries | Financial Services & Real Estate | Reuters