moving to Spain in 2011

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18 Jul 2008 12:00 AM by RBA Star rating. 9 forum posts Send private message

Both the local papers and the radio have informed the public that Promaga is in trouble. Reasons include property sales having collapsed and the owner under threat of a divorce in which the other half demands half of everything...

This is by no means a humour or sick joke meant to cause concern for no reason. There is serious cause for concern. 

I live in Santa Margarita, very close to the Vista Hermosa site and visit the site frequently. I speak to Promaga people on a regular basis. My contacts at the Promaga office in La Linea and other sales persons in my network are not denying it. The general response is that phase 1 and 3 are unlikely to be affected as these phases are in fact finished. Phases 2 and 4 can potentially be affected due to the current money crisis. How, what, when, why....it is all very hazy.

Without further concrete information and as always as in these circumstances, the situation never is clear with more questions than answers. Despite the fact that I am in phase 1, I am concerned also. This is not the news you want and it is upsetting and worrying. I can only apologise for being the one to drop this bomb, but I am in it with everyone else. 

I am pleased to tell though that work on all phases is continuing as we speak, and initial looks on the site do not reflect any evidence of any troubles at the top. I can only hope and pray that all our houses are finished in time and according to contract...




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18 Jul 2008 11:58 PM by DoubleJ Star rating in Las Alpujarras and L.... 143 forum posts Send private message

DoubleJ´s avatar
Hi RBA,

Thanks for the interesting post.

Which papers are are saying that there are problems at Promaga ?

My gut feeling is that although there may be problems, the relatively advanced stage of the development, probably means that it will get finished, albeit with some further delays.

I would be very interested in any other information that you hear about

Thanks


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