| Message | Posted by |
Hi everyone,
Thanks to Sue for the response. Lets see what happens in August when Addoha has it's share holders meeting. I believe Fadesa have already stopped it's activities in Morocco. | portugal |
I just heard back from Sue who sent the following:
a comment from our Project Management Team in Malaga on the subject:-
Please be aware that the comments below are provided for information purposes only and must not be considered as fact.
Martinsa Fadesa filing for voluntary administration:
As Oasis at Saidia SARL, we cannot make any official comment on Martinsa Fadesa’s administrative and financial issues. Most of whatwe have read and understood from the latest press releases indicate that the group has filed for administration in preparation for bankruptcy.
With regards to Morocco and the site of Saidia as a whole, we know that Fadesa Maroc has still been involved but on a greatly reduced basis as the control of the company was taken over back in late 2007 by the largest Moroccan property promoters Addoha, and therefore we do not foresee any changes to the continuation of the development of the site as a whole and its completion in the next years to come.
This is a telephone statement by Fadesa UK: “Fadesa Maroc, being only 50% owned by Martinsa Fadesa, is secure from the effects of this bankruptcy. The businesses in Morocco are well financed, and are not short of funds. Martinsa’s problems are Spanish based and are confined to their direct operations only.
There is a possibility that, as part of the bankruptcy process, Martinsa Fadesa may need to sell their holding in Fadesa Maroc. If this becomes necessary Addoha have already indicated their desire and ability to acquire the remaining shares and make Fadesa Maroc a wholly owned subsidiary of Addoha, providing the financial security of a significantly stronger corporation.
As you may know, the administration of Fadesa Maroc has already been taken over by Addoha staff, and we therefore expect little, if any, disruption to the work on site at any of the Fadesa Maroc sites.
Obviously news is scarce at the moment, but we can assure you that we are doing everything we can to obtain as much information as possible, and this will be made available to you as we get it.
Thank you for you continued support of the Fadesa Maroc projects”
I can also confirm as you know, that Oasis at Saidia SARL is the developer of Oasis Beach and Golf Resort in Mediterrania Saidia, Morocco. We have contracted a Moroccan Construction Company TPEI (Tout pour l’Entreprise et l’Industrie – Moroccan Commercial No.18193) to build the superstructure and complete the masonry of Oasis Gardens Apartments.
The viewer's trip is likely to be early next year now as progress has been a bit slow and therefore they feel that visiting it as still a building site has limited point. | CJG |
| there are some new photos on the oasismorocco website. Clearly they are pressing ahead regardless. I am going to contact Sue to ask where the Fadesa issues leaves our plot as well as the larger site. However i have a feeling that if Addoha can buy the other 50$ of Fadesa Maroc then it can only be a positive development. | CJG |
Hi Everyone,
Has anyone in the know got any idea how the collapse of Fadesa in Spain will have on the progress in Saidia. | portugal |
It depends on if you wish to purchase on a tourist or residential plot. The tourists plots have more facilities and should be more appealing to holiday makers. If you are not interested in a rental income go for The Greens which is on a residential plot.
Have you not considered Le Jardin de Fleur sur Mer or a resale apartment on either Magnum (RT1) or Le Jardins du Maroc (RT7)? | lazydays |
Hello,
I'm considering buying at the greens or oasis - the greens look slightly smaller. Does anyone have any advice on which is best? | aohaire |
Phew....
Sue at Oasis has just called me, they have moved offices and BT seem to have messed up the redirection.....
I will update this site later with new contact details etc.
| blindsiderider |
Just managed to speak to a receptionist at the Aztec Centre - apparantly they moved out on Friday and they have no forwarding details....
What is the Saidia Message Board you mentioned?
| blindsiderider |
Hi blindsiderider
i have always had quick replies on email from Sue so you can try:
sue@oasismorocco.com
like you i hope this isn't the start of more problems. The postings on the Saidia message board do not make pleasant reading.
| CJG |
Hi
Just tried to call Oasis Morocco in Bristol and the 2 numbers I have are now dead.... 08444 721100 and 01454 203612 does anyone else have any other contact details?.... Hope this isn't the start of another problem!!!!! | blindsiderider |
Hi everyone,
We have purchase in block 3 and will be keen to go on viewing trip like most others to meet fellow investors as well as to view progress. | portugal |
We purchased a Pines Townhouse June 2006 and have registered an interest in the viewing trip. We spend a considerable amount of time across the water in Spain and have thought many times of popping over - very easy from Mellila but not while the possibility of looking again at bare space all round. If this is still the case in Sept/Oct then not worth the cost, but surely we will know by then because a further payment will have been required.
Dolores | dolores |
HI Greenfingers,
We bought an apartment in block 2.Not been out to the site since April 2006,so have registered an interest in the trip. We normally like to make our own arrangements, however, we thought it would be a good opportunity to meet other purchasers adn also speak to the developers face to face! | traceyw8727 |
We visited Med Saidia site last October on a week's drive around northern Morocco. We bought an apartment 2 yrs ago on Oasis Beach & Golf, which is expected to be ready late 2009. Who else out there is hoping to go on the trip which Oasis are organising to visit the site later this year? We'll be going but direct from Spain where we live most of the time but are hoping to meet up with other purchasers. Would be good to hear from any of you! | Greenfingers |
I understand that Melilla airport has one car rental complany called "Rent a Car". You need to phone 0034 952 695 610 (office) or 0034 639 196 660 (mobile).
This was correct in October last year as I know someone who used one of their vehicles.
I hope this helps. | lazydays |
| there are some more pics on the Oasis website. The general area is beginning to take shape | CJG |
I am travelling to Saidia via Melillia in september.
Is there a hire car company I could use which is on the morocco side of the border. I will be staying for five days.
What are the busy times or days to avoid at the border. | percy |
|
I bought townhouse over a year ago and looking at the current list of availability it looks to me as if absolutely nothing has changed.
Palms 9 and 10 for example were 'just released' before I bought and are still all available (bar 1 which was 'sold' back then).
So seems like no increase in value and no more interest. Just a terrible exchange rate now making 10% more expensive.
Anyone else wondering? | PR98 |
| I went onto the Oasis Morocco website last night to see if there were any new photos. There aren't but Oasis are asking for people to indicate interest in a owners viewing trip in the autumn this year. They are planning to charter a plane from London to Oujda for a day trip. I think this is a great idea of theirs and should give a lot of comfort around the people we are dealing with now. The form to fill out pops up automatically when you log on to the website. I hope enough people will be interested as it will be a great opportunity to see the progress and get a feel for the Oasis resort as well as the wider Saidia development. | CJG |
Indeed I did work for Superior until Spring 2007 and have kept in touch a little with some ex colleagues.
regarding building work I am not sure, i have asked when the first 10% payment will be required and this is requested when the laying of the foundations is about to start, I have been told in the next 3 months, most likely the next 2....however I cannot say for sure and the information I am getting is vague...as always until something happens there is a pinch of salt needed with overseas property...at least Oasis is being built! some are not going ahead at all from what I hear.
I will update and list any further useful information as and when i receive any. | BristolD |
Hello BristolD
Are you the same Dan who worked for Superior up until last year?
If so have you kept in touch with your ex colleagues and do you have any inside information as to when building work is due to start on this plot?
Any information you may have would be useful. | lazydays |
Hello all,
I have been an owner on Oasis for over a year now, well on paper anyway...bought in The Pines a Townhouse and just wanted to say I have put it up for Sale due to needing the funds next year to get married.
if anyone is interested its in the best location golf and lake backed and on the market priced at £20K less than the current pricing for equivalent properties.
please email me with interest and questions. danwellby@yahoo.com
I am open to offers and negotiation and have all the details scanned and emailable if requested.
Regards
Dan | BristolD |
Hi All,
Oasis have updated the availability section of the website-good to see the percentage of properties sold and up to date prices for the remaining units for sale. | traceyw8727 |
| on the Saidia message board there are some new photos and ECLEM has uploaded 3 videos to Youtube. The site is looking good and there appears to be some more positive remarks around the AP4 build. | CJG |
Hi Percy
We received a silmilar letter last week so i called the Bristol office last week and did manage to speak to someone straight away. I was annoyed given that i had paid the instalment which was due on the start of construction last October. I was informed it was a standard letter sent from the Spanish office,however, i told her i was not impressed with the threat of legal action and they should take more care. Its not exactly good customer relations!!
Anyway i was informed of progress and got the impression they were trying to make a better effort with keeping everyone informed.
Im sure if you call again you'll probably get through. If you need a contact name let me know as i subsequently received an e mail from the woman i spoke to and i can look it up for you if need it.
Regards
Tracey | traceyw8727 |
hi
this is my first message.bought two apartments in oasis.have just had a letter from oasis
demanding payment this is is first we have heard since superior went bust.threatining legal action.has anyone else had such a letter.tried contacting today , no-one available to talk to me | percy |
Hi Everyone,
The oasis morocco website has been updated today. There are some new pictures and a newsletter has been added to the menue. I have been informed that they are expecting the concrete structure on the apartments to be completed Sept/Oct so that is when the next stage payment will be due.
Lets hope the exchange rate improves by then! | traceyw8727 |
Hi Tracey
Yes after all the delays what are another few months. would be better to take delivery in spring 2010 than autumn 2009 when the usage of the place would be less over the winter period. And in the hope the xchange rates improve! | CJG |
Hi,
There is no new web site so far as i can see. If you look at the old oasis morocco site, they have added down the left hand menu a " building progress" section. There are photos on there for March which have already been posted on this site. There is an update video on u tube and lots of photos on the total property forum, which show RT5.
As to the payments, after the initial 20% deposit, 10% was due on start of construction and another 10% after the concrete structure is completed. I think it will be severel months before the next 10% is due. I hope the overall completion will be as late as possible given the present poor exchange rate! | traceyw8727 |
I have looked for the new website but not found anything yet.
Has anyone yet been called for the next 10% (bringing the total paid up to 40%). just interest because i paid 20% in January just to get the payments out of the way (in hindsight a good thing the way FX rates are going) but i was wondering if the building work was on schedule. the next 10% was due 3 months later for the continuation of the building. if it hasn't been called then there are further delays.
If anyone has any info on when the expected delivery is then that would be great. Last i heard was Summer 09 but i suspect it is more likely Autumn 09 now. | CJG |
| Hi there, does anyone know if the new web site is up and running yet? | golfgilly2 |
If you're looking to privately rent your Mediterrania Saidia property, you might want to check out www.saidiavacations.com
| Mr Ri |
| The photos are the ones that WATTY received from Sue at Oasis - the messages are below posted March 7th. Assume they are Oasis as similar to the ones i had posted previously and also sent by Sue. | CJG |
Hi Tracey,
The photo on the far right looks like RT5 as i last saw it, the others could be anywhere but the villas in the background look the same so I feel it is RT5. I spoke to Oasis last week on the 10th just before my last posting and was told they hope the web will be available before the end of March. | portugal |
HI Everyone,
Does anyone know whether the new website is up and running yet. Also could some one clarify the location of the black and white photos which have been posted.Are they meant to be of RT 5?
Thanks
Tracey | traceyw8727 |
Hi again,
Sorry forgot to pass on other news I found out today for all the golf investors. The golf course designer is Segales golf. Of the three courses The Oasis Golf Club, The Palm Golf Club and The Lagoons Golf Club the second is now open. You can view the progress by logging onto the web page www.segales.golf.com | portugal |
Hi everyone,
Great news that building work starting. Told the architect called Nadal is to oversee the work. Builder a moroccan firm Tepi. Sorry not sure of spelling but it gives you amateur detectives out-there something to go on. They apparently worked on the barcelo hotel. | portugal |
| Photos now uploaded | CJG |
| Sue from Oasis just sent me the below.. great news! Also some of the new photos of the golf course look great. If someone emails daniel.watson@networkrail.co.uk I can reply with the phots for them to update on here - for some reason I can't on this computer.
The very excellent news is that we ‘Broke Ground’ on RT5 (Oasis Gardens Apartments) last Thursday and I have been eagerly awaiting our very first photographs – please find attached. They were taken yesterday and although they are not brilliant representations, they do show work commencing and I feel it is a major achievement for us to have reached this point, after so much bureaucracy to wade through.
Here is the note that accompanied these images from Antoine:-
Just a little explanation of the Oasis start of construction.
- The site has been closed to prevent people walking on the building area.
- The plot has been drawn up for the position of each block.
- Some machines are clearing and preparing the land for the cranes.
- The materials are starting to arrive to proceed with the next phase of construction.
I also include more photographs of the Saidia site, taken yesterday 06/03/08. | Watty |
| Sue Pyser and Geoff north, when I saw them on Tuesday, were reckoning May-June 2008 for construction start on The Pines. Having paid 20% so far, the next dollop will be due then. Completion should be December 2010. | Pines Buyer |
| We have also already paid 40% for an oasis apartment. Likewise it just seemed simpler to make 1 payment instead of 2 three months apart. | CJG |
| I brought an oasis apartment and have paid 40% to date - i think I am only meant to have paid 30% but wanted to make the most of better rates | Watty |
Hi Pines Buyer/Watty,
I have also brought a townhouse on The Pines and am keen to share experiences.
The lack of communication in the past has been a cause for concern. I hope this now improves with the new dedicated company being setup, time will tell.
Do you know what the revised construction timescales are for the Pines? Given next payment (10%) is due when construction starts, I assume all purchasers have only paid the 20% payment at signing to date? I will certainly try to establish the financial stability of Oasis At SARL before any new payment is made. Do others feel the same way?
I'd be grateful if you could email my any up to date pictures you may have ( bwagjiani@gmail.com). Thanks
| bhupesh |
Hi Mr Pines
Sounds good, I have some latest photos of oasis and saidia - they were sent by Sue so you've probably seen them. If not email me on daniel.watson@networkrail.co.uk and I can forward them.
I agree with you and think there is nothing to worry about and I think Oasis buyers have done the best out of the Saidia projects with everything that's happened (along with perhaps Le Jardin) 1. No increase in VAT when othjer other purchasers are getting hit 2. later completion date which means the site will be habitable by the time Oasis complete, golf course will be ready, cheap flights will be avail direct fro U.K etc etc 3. Oasis will have learnt from mistakes of the other developers e.g - Oasis are building much larger pools and better communal facilities 3. Furniture packages included will mean more £ to go towards completion costs etc. | Watty |
I visited the offices of Oasis Beach yesterday, met Sue Pyser and Geoff North, and left feeling much reassured about the future of the development. Construction of the apartments is under way and there is a realistic schedule for The Pines. Given Fadesa’s delays, I think we are perhaps lucky in the probable timing of our various completions. I would have preferred better communication in the past but we are promised more committed contact from now on.
Meanwhile, I’d like to swop experiences, photos and advice with anyone else on The Pines. Is there anyone out there…? | Pines Buyer |
| I'm new to this site. Have bought on The Pines. Anyone one else here taken the plunge on this section? | Pines Buyer |
photos are now uploaded in 2 sets. Because one is an odd format you will need to scroll down the page to find them. The panoramic one was named Oasis and if you look closely you can see to the left the beginning of our site (big brown hole in the ground so far). the other one of the Oasis site is with the digger moving earth. Others are of the marina, Barcelo Hotel, beach and surrounding areas.
| CJG |
| just checking that there is no problem posting the photos (copyright etc). If it is ok then i will post some of them - a lot are more of the same thing and very similar to the photos on the Saidia progress site. | CJG |
Hi CJB
Dont suppose you were told who will be doing the building work?
Thanks
Tracey | traceyw8727 |
Hi CJG
Wish Sue would reply to my emails..
Please can you post the 23 photos on here asap.
Thanks,
Dan | watty28 |