Which code do I use, Justin & HOW?

Hi All,
          Well done to all of you who have completed and lived to tell the tale, I was wondering if anybody thats been out there recently could tell me which penthouse block will be used as the showhouse and if work on the clubhouse has started.
Big thanks to all of you for the great photos, as we all go out let's keep them going.
johngee

John

Just back from Spain this afternoon, we were onsite on at Condado on Monday 23rd - sadly the penthouse show flats were not open yet - Polarais told me a few weeks but they did not confirm which block they would use. The building progress since we were last out in October is amazing ALL the 1st phase are now up and built - they were doing the access road so sadly I could not get as close as I would like - pictures posted on the Los Naranjos page here of what I could get too !

Grass being seeded in the next few weeks for the golf course - the views from the penthouse will be awesome over the couse and onto the mountains beyond - I cant wait !!! 

Polaris told me completions would be Sept/Oct I guess they need they cash - sales must have dropped off a cliff, big signs in the sales office advertising for sales staff  - I understand that sales are down from 70 units a day to 70 a MONTH !!!!

Rgds
Mark

Mark,
Great photos - the best to date of the penthouses ! I can't wait until they are ready but hopefully some of the infrastructure will be in place too ! If PW are saying completion in Sept/Oct I guess we can add a couple of months (look at the delays at Jardines). What was your view of how the overall resort was shaping up ? A bit concerning if sales have dropped off (don't want to live in a ghost town) - I wonder what percentage of those built have already been sold ?

Thanks Mark,
                     Can't wait to see it for ourselves it all sounds great, going out in Sept bet it will almost be finished I'll have my camra ar the ready.

JohnGee

Mark

Overall good news but it does worry me that their sales have gone from 70 per day to 70 per month. I know that there is the slowdown in the market but my concern is that PW will start dropping prices in an effort to sale the remaining appartments in order to get their money back sooner rather than later. This in turn might force them to cut corners on the rest of the complex going forward. This in my opinion would be a mistake as so far PW have delivered pretty much what they have planned and the result is giving everybody a positive feel about things.

However, if they start dropping their standards, the place will not continue to attract the interest they want and they risk having Condado labelled with other resorts that some people are avoiding. I hope they contiue with their investment and that they, and we, end up with a place that people like to live and visit. That way the interest will remain and it will be a place that stands out from the rest of the other developments which will be a very positive thing.

So far, most stuff I read about the resort is very positive but this comes from mainly forum members. The only negatives are the response sometimes from PW. Let's hope that people high up within PW reads and listens to all our comments and understand that sometimes we have comments that actually make sense.

Nuff said, off to bed......................

Phil

 

Hi All

I agree with Phil’s (lytton) comments and hopes.

I think and hope that this development is so big that PW would not want to devalue it as they have so much invested in its future. The apartment and villas are just one part, their future big money comes from the success of the public areas and attracting people and businesses to it. If they get this right they will have a retail and leisure area like no other in the region and people will travel from near and far to use it, along with the 3 golf courses it has the potential to be a money spinner for PW and if they get it wrong a white elephant. I to hope they don’t start reducing prices but the market will determine values in the future and if people do achieve a discount now, o well it should have been me, if they reduce the prices much and if I can raise the finance it will be. What is more important is the quality of the whole development to determine its popularity and future values, from what I have seen they may have done some penny pinching from each of us, which individually isn’t a lot, but amounts to some big change in PW’s pocket. The development that has been finished and the work that is being done to date is in my opinion pure quality and long may it continue I think someone on the forum has said that PW are recruiting more sales staff, if this is the case they must be intending a big push for sales, probable within the euro zone. They are pushing to complete the properties they have sold so far, I presume to recover some of the investment, hopefully to reinvest in the progression of the complex. As I have suggested above this is were the future big money will come from at this development for PW, that said I am not a financier in any way shape or form but maybe Shampers will have view on this, that’s if Carol (angelbabe911) hasn’t got to him first.

Regards

Phil

This message was last edited by PGM on 6/30/2008.

Dear ALL

Good points and well made, just a few personal thoughts below on what I saw for general consumption and answering a few questions !

The entrance to the site is very impressive, the new road from Murcia to Mazarron now has a dedicated slip road off to Condado. You enter up a long palm fringed drive with the resort in a hollow to your right. At the top of this drive is the new condado sign on the roundabout (as photographed)

Its strange in that that unlike every other Polaris resort I have been too there is NO security at the entrance to the resort rather the appartments are located in an inner fenced compund and each will have its own security post. As such you can drive around the entire perimeter of the resort unchallenged - on the right hand side of the road there are parking spaces - must be thousands of them - I am not sure if this is for residents who dont have parking or maybe visitor parking  for the "open to the public town centre" if and when it opens ???

In terms of construction,  ALL that is built is the Jardines, 1st Phase Penthouse, Los Naranjos and over the road the beginings of the Isla Condado, no sign of any other construction. There were very few builders in evidence certainly no more that a few hundred. The revised town centre site, by block 16 penthouse is wasteland with no evidence of ANY construction at all.

It looks as though Polaris will build what is underway and complete the golf course and then stop, maybe pending an upswing in the economy ??.  There is no sign of any work on the other  "Bears Best"  courses and no sign of any villa construction. 

The signature course is being seeded in the next few weeks  and the sales office said "confidently" that penthouse completion would Sept/Oct  (it was Nov/December last time I asked !!) - looking at the structure and the fact that the roads are going in (so drains water/power are done) I would think this is a reasonable estimate.

I was un-impressed with the sales office generally, I got the impression when they knew we had "already" brought on site they were not that keen to take us out on a look around - the girl who eventually was seconded to take us, had only started that day and did not have a clue where she was going and was unable to drive the car  - very embarassing as we kangarooed around the site in 1st gear. I am sure you all have got the recommend friend for 3000 euros cashback if they buy  - even now I am trawling my address books looking for victims - sorry, willing punters !

The finish on the Naranjos show appartments looked good and I was impressed by what I saw, its very clear that every section will have its own idenity and community  - I guess this will be more prevelant among the Jardinea and Naranjos than the penthouses, as befits the layout of the blocks and the fact there will be more children here to unite residents.

On the way out at San Javier yesterday we were accosted by easy jet monkey trying to sell us a credit card (17.9 % !!) she was full of talk about how San Javier would be extended and Corvera when open in 2011 woudl be taking in "jumbos" in from the US full of Nicklaus bound golfers who after playing golf would head off to "Murcia Disneyland"  - how many times will that rumour surface ????

PS: For those that have not yet been I would strongly advise DONT go to get you NIE number on your own in Murcia - its a terrifying process - unless you Spanish is good and your resolve strong, we went with our solcitor and leapfrogged a huge angry queue to sign a scrappy piece of paper in the doorway - time taken 20 seconds - still it all has to be done !!

PPS: On Mortages - Patrick at Marbella Mortgages - is excellent cannot recomend highly enough if you need help.

Rgds
Mark






 

Hi Mark

Thanks for all the info and pictures!   It good to hear any updates!
We are going over on the 20th July coming back on the night flight 21st July to arrange NIE number. 
Polaris World has arranged to pick us up at their head quarters and take us to the Notary office, so lets hope
they can push us through!!! I here it can take up to 4 hours.
We are hoping to get to have a look at Condado and if it isn't too late go around, before we go back to the airport!

Jackie

I have read on more than one occasion that the golf suites have sold very well- so they should be going ahead too with the Mirador apartments before too long, maybe they will alter their plans for some of those areas?.  But after that who knows- some local Murcia councillor has said they see an upturn in the market late 2009.

The plans we saw in Feb 07 had penthouse blocks across the back of the Jardines- no doubt they are on a back burner. But the resort was always at least 10 year project so maybe it wont be a bad thing. The place gets established and popular first.

Good description of the entrance Mark, we actually went around anti clockwise on our visit and the site office and entrance were a bit of a muddle so I haven't totally been able to visualise the layout properly till now.

They clearly want and need the golfers there- I wonder if a Hotel is in the pipeline?

Nice Photos Mark,

So pleased I'm in the same block as you for getting up to date pictures.

Regards construction on other areas of Condado, Is there not a 2 month period over the summer when the Spanish Builders do nothing due to the intense heat, with only a few die-hards out to get double time. I'm sure that was the case when we were over last year. Also I'd imagine one of the main items of expense for building these apartments would be the cranes. I'd reckon they've got a set  number of cranes on-site and when they complete a phase, i.e Jardines phase I, there moved along to start the next phase i.e La Isla. I would think that around the time Los Naranjos is completing, we'll see the cranes moved over El Mirador, PhaseII Penthouses  & the combined Town Centre between Jardines & Naranjos. The area at the back of Block 16 looks as if it's been totally cleared from the last pictures I've seen. As this section is for parking for the new town centre, it could be that they will be setting up their building compound in this area soon. 

Midge

Two weeks ago we were visiting a furniture pack company and their rep was saying that the previous week they'd been told thatt here were 9000 workers on the site. That seems an extraordinary amount and they cant be laying them all off can they? so maybe its just a start of the holiday season or the end of the final push for Jardines.

Hi All,

I was over a few weeks ago.  The rep I had seemed to be able to answer all questions I threw at him (without batting an eyelid).  One question I asked.  Who are the partners of PW.   Credit Suisse, Caja Murcia and bank de Valencia.  All major financial institutions.  Maybe. be what if the sales were to dry up I asked.  No problem, we have enough financial security from our investors that we can keep building at full capacity for 4 years without needing to make a sale??????

Jim

I think people are reading too much into negative speculation, and at the moment thats all it is.  We all bought into Polaris because they are such a reputable company, yes there have been some of the 'Bigboy'  companys fall by the wayside but none as big as PW, I have no doubts in my mind about my decision........I have researched PW for last 3 years and I have taken a huge step in actually moving over to live there permanantly, therefore I could not take any risks. 

I think we should all look at the bigger picture and remember that from the start we knew that this is anything from a 5 - 10 year project, a project that will not only give us some great facilities but realistically be a brand new town within Murcia itself.....Everything that we will have at the end will accommodate all the needs that a normal town would need and expect....Only we will have it a lot quicker.........I think the vision that PW have portrayed is way ahead of its time and I for one couldnt wait to buy into that vision.

Anyway just my opinion, I am sure there are lots with differing opinions, lets just look forward, keep optimistic and enjoy the new 'Chill Out ' escapes we have invested in.

Good luck to all and hope to meet most of you on my walks


Carol

Agree with Carol....Condado de Alhama has to be a good long term investment
With the current EU problems there may be a slow down sometime just like the situation in UK where all the big builders have stopped new starts unless they have a sale arranged
PW at present are pressing ahead and the new show apartments are now open at Los Naranjos [ full details available for anyone who wants them] 
similar to Jardin style and prices start from 119.800 €
The extension to Mar Menor Resort is also moving quickly...a bit more expensive
Sure there is the odd good offer....2.000 € voucher if you reserve now  and some good buys to finish of the early Resorts
Work may slow down a bit but everything looks OK at present....infact some of the Jardin buyers are even complaining that their property is ready too early!!!!!
 
But post 2010 when the EU market is expected to start a recovery, anyone who buys now will I suspect find in the years to come that they made a good buy 

The views from these penthouses are going to be stunning aren't they. I was trying to work out directions from the recent photo's but I thin I'll have to wait until we can see them ourselves. Some had just been released when we 1st went over and we were sorely tempted. But then I was tempted every time Polaris announced a new release- think I'd have bought in each area had we the money!