Calidona

Hi everybody

Just checking our sister forum at Corvera and there seems to be an awful lot of speculation at the fact that Calidona could actually be on the verge of collapse
Obviously this is worrying for all of us as Roda is still only 2 thirds finished and we are all eagerly awaiting the Hotel and commercial centre to be built
I would like to know peoples thoughts on this 

Wangy


This message was last edited by wangy1421 on 10/11/2008.

Hi Wangy

As usual the problem with all this speculation is the fact that no one can get specific answers from Calidona on just where they are with both resorts . It would be better for us if they let us all know the facts but would cause more problems for Calidona from clients if they did.  However, they as most of us will have been hit with world issues that are out of everyones control.  It must be incredibly hard for the people on the front line like the office people.
I would think that once phase 4 villas are completed and they get the monies in from them - that is when the phase 4 apartments/hotel etc will start to complete.  Maybe I am wrong but that is what I think.  If Calidona had accepted the build licence for phase 4 apartments the clock would start ticking for them.  They obviously cannot let that happen until they are in a position to achieve the build in 18 months (plus 3 extra months of grace).  Do we have to accept this? I think that possibly we do in Spanish Law.  Everyone should have had more explanation from our solicitors on the fact that the 18 months only started when the build licence was issued and not when our first deposit was paid as most of us thought.  So to acheive the build in 18 months no developer will accept the licence until they know catagorically that they can achieve completion in 18 to 21 months.
Roda is long term.  I like others think that it will always be the best resort once completed.  I still love it and will rent until our apartment is ready.  The villas are nearly complete. That will be when the apartments start I am sure.

Yes ,this may be construde as a negative message but its time that people got into the real world, whats happening at the moment with the world economies has bound to have a knock on effect on Roda, i personally cannot forsee ,calidona/de vere even contemplating to start the hotel /commercial centre for the forseeable future, its just aint going to happen.

Sorry to burst anyones bubble

hope i am proved wrong but time will tell.

dave

I think De Vere have removed the Murcia hotel from their map on their website again.I suppose it makes sence if there is no hotel there to book.I have heard from a very very good source that the hotel is to start in October/November along with the commercial centre. So I wouldn't panic just yet.

Heres another link that might help.


http://clubventures.wordpress.com/2008/06/21/de-vere-to-manage-roda-golf-beach-resort-in-spain/

I would also say that corvera and roda are more than likely to separate companies so one cannot bring down the other.

Ace


This message was last edited by ace on 10/11/2008.

Hello everyone - as a Corvera purchaser, I regularly keep an eye on what's going on in your forum as it seems to be the best source of  useful information as to what we may expect further inland.  As you can guess from my forum name, I'm not exactly overwhelmed with the level of information / customer service / speed of build etc. 

In my view, their appears to be a growing divide on the Corvera forum.  On the one hand you have investors who are looking to make a quick exit and lifestyle purchasers who are still determined to make the most of their purchase.  I fall in the former category for a number of reasons - essentially by looking what has happened to phase 4 at Roda and our already heavily delayed completion  (building licenses were obtained well over a year after deposit payments were taken), the lack of a hotel (Ace - has the hotel building work started at Roda yet?  It is nearly the middle of October), expiry of bank guarantees without renewal, the inevitable delay in building other facilities, the poor exchange rate and poor rental returns.  In addition I am very wary of going through with completion only to find that the business does go bankrupt.  I've tried selling at discounted prices for many months and even explored the opportunity to swap from Corvera to Roda but to no avail. 

Many people in my situation are seeking clarification concerning our contracts and hopefully our maximum liability is the 30% deposit money. 

To my knowledge Calidona is the holding company of 2 separate businesses ie the one at Roda and the One at Corvera - not sure how this would work if Corvera failed but I sincerely hope that Roda purchasers will not be affected by this (perhaps this explains a reluctance to engage in a "swap").  I understand that the land at Corvera was purchased outright so there are assets there.  I'm not sure about the Ballabona development in Almeria -  work didn't start but was any land purchased?

Is there any way of finding out the financial position of Calidona?

I just wish they would confirm a start date for the Hotel/Commercial centre but as we know world affairs will govern this (hopefully things are on the way up)

http://www.devere-hotels.com/about-de-vere/news/roda-golf-hotel-and-beach-resort

Its still on De-vere's website

It's my understanding that Roda (Calidona) are responsible for financing the build and with current cash-flow issues together with De Vere not being in a rush as the tourism industry is suffering, I wouldn't envisage this happening soon.

I also have purchased on Corvera and if you read peoples comments properly it DOES NOT SAY that Calidona are in financial trouble.  People are just saying that they hope they go bust because it is the only way they will get there money back, because they cannot afford to purchase.  You need to make sure that you read the posts carefully before passing on information.  This is happening far too much and incorrect information is being passed around.  I already had to make a post yesterday about another comment mentioned on the Corvera website that wasn't true.  This is already a difficult time for people without comments being posted that simply are not true.


Em

Hi Emsy

If you read my thread it does state ...Speculation....
There are people who are saying they hope calidona goes bust on Corvera
And some people are saying they are willing to walk away and forget about there deposit which cannot be good for Calidona
It would be much better if Calidona actually came out and made statements on the issue as I think people interested in purchasing here would be at ease

I do wish the negativity from Corvera would not overflow onto the Roda forum.

Its not as if I don't have sympathy for some of the purchasers but I do have to say the people who seem to have the problem with Calidona are the speculators who have maybe bought more than 1 property in the hope of "flipping".  The problem with these people are that they can't afford to buy the properties in the first place and just want to make a quick buck whichever way they can.  They would be happy to see a developer go bust so that they can have their deposit back.  

These people are part of the reason that the world is in a financial crisis.  Speculation!

Please do not bring negativity onto the Roda Golf Forum.  We have our own problems,
however our problems have not been brought on by speculation and greed.  I certainly would not wish the downfall of Calidona,  who people were happy to buy off when they thought they could make a quick investment.

Well said KRODA
I have an interest in both Roda & Corvera ,what an attitude by some who are aptly named (by themselves) stirring things up.
Back up the motorway please.

Hi,
We're Corvera purchasers who are in agreement with Emsy, Kroda and India.  And in answer to Mr Unhappy - your lawyer should be able to check on the financial state of Calidona - for a fee - as ours has done - to our satisfaction.

Well said KRODA

i would not wish to see calidona go bust as a roda phase 4 owner , i do however feel that calidona are greatly responsible for the negativity if they had delivered the product on time as stated at the time of purchase then the negativity would not exist !! perhaps if they communicated with customers that might also help !! from my own perspective my product will be delivered approximatly 2 years behind schedule do people believe this is acceptable business practise ? it is simply not good enough to say well this is spain !! i do feel as customers of calidona we are being treated very badly , calidona are not responsible for the current economic situation or the decline in spanish property prices but they are in my opinion responsible for the delays or misselling of the product in the first place and should be culperable for this , as it is i bought into a 5star resort with the facalaties associated with that and at the moment it does not look like this will be delivered ie the hotel and  the commercial center . i have been informed by customer services that phase 5 will not go ahead in the current economic climate  as such we will be asked to complete on a resort with no final completion date and not knowing what phase 5 will consist of should it eventually be built .
this is not intended to be a negative post merly a realistic view of he resort at the current time , i should also point out that our purchase was for lifestyle choice not investment .

Someone with common sense at last searay
Will people still be saying WELL DONE KRODA if the Hotel/Commercial center doesn't materialise
This post isn't about negativity at all it is about FACTS
Shall we all just go bimbling along thinking OH WELL the Hotel/Commercial center maybe here one day 
Or shall we do something about it and put pressure on Calidona to give us a start date as promised when signing up
People are too quick to try and get a pat on the back on this forum instead of looking at the whole picture
WE ALL KNOW ABOUT THE CURRENT ECONOMIC CLIMATE, but this does not mean developers can hide behind it
One of the reasons I bought on Roda was the commercial center and if this does not go ahead I feel my lifestyle investment is not what I purchased
Lets all be sensible here

I think that it is a bit naive to think that developments such as Roda or Corvera would be built without investors.  The manner in which these developments are sold / marketed revolves around this.  For example by purchasing in phases 1 and 2 the opportunity of resale is given that is not allowed to subsequent purchasers until the units are completed.  To my knowledge their are not many checks that are made on signing the deposits as to the financial credentials of the purchasers and neither is there any independent financial advice given.  I absolutely agree with Kroda that globally we can see the disasterous effects of speculation and the greater need for regulation.  Maybe this market should be regulated.  A parallel could be drawn with the mis-selling of endowment polices a few years back.

In addition, please do not forget that people may have bought more than one unit because they really thought that the development would be not just a great place to enjoy a holiday for themselves, but had that much confidence in it they purchased another as an investment.  Indeed at least one of the supporters of Kroda's points falls into this category.  It's not for me to comment on their personal reasons for doing this but I would imagine that they would like to see their properties increase in value over the years.  I am sure that this will be the case for many people but how long this may take is another issue. 

I really am sorry to have stirred up such emotions but it is a forum for discussion.  The result of recent discussion on the Corvera forum does appear to have increased unity and purpose with a number of purchasers (even if it is to moan about me or others with similar thoughts!)  It is a forum - I'm sorry to have crossed the line / stepped over the mark / enter a forbidden forum.  However it would be great to hear positive points from Roda owners on the Corvera forum.

If you complete will you change your name to Mr Happy!

Yes if the exchange rate is £1 = 2 euros!

Dear Mr Unhappy!!!!!!!!!!!

My understanding is that you are not an investor/owner in Roda. You started a thread on the Corvera forum to explore ways to break your contract with Calidona (Corvera) and still get your deposit money back. That thread is called "Liability and Walking Away." You paid a non-refundable deposit and now wish to change your mind. You took legal advice on how to get your money back.

You obviously have an agenda here either to cause as much panic as possible to cause Calidona to collapse in the hope that you will get your deposit back from a liquidator or to be such a pain in the neck that Calidona might agree to pay you off.

Either way investors in Roda who look forward to the success of the project should be aware that you are an ENEMY.

So (struggling to be polite) please keep your comments where they belong - on the Corvera board!!!!!!!!!

Read my lips!!!!!!!!!!!!!!!!

Barry

HERE HERE!  Go away Mr Unhappy.  We can sort our own issues.  Stick to your own.

Our faith in Calidona is hopefully not misplaced.  If we do not eventually get the hotel and commercials (which is very unlikely) then we will, I am sure band together to sort this out.  Phase 5 is on hold which as I see it is a necessary evil for Calidona in these financially unstable times. You cannot blame them for this.  As I have said previously I am sure phase 4 apartments will start as soon as Calidona get the completion monies from the villas.  Hopefully - so will the commercials.  If the resort is not completed then we will sue for compensation as we would have been mis sold.  It is definitely not in Calidonas interest to let this happen.   Yes - we are having to wait for our dream but it will be worth it.  We can walk to the beach, the Spanish Square, The Supermercada,  fantastic retaurants.  What other resort of Rodas standard can do this?  We are 5 mins from the airport, 2 mins from the motorway.  The list goes on and on of the benefits of Roda - even without the commercials.  Taxis - 5 euros to the beach or square.  The Beach Club - 12 euros each for the day by water, the fantastic golf course, The fantastic club house.
Lets start looking at our glass half full and not half empty.   We will rent until we have our phase 4 apartment which we also will struggle to complete on as we have been adversly affected by the credit crunch and exchange rates.  We will fight for our apartment  even if it means selling a portion of it to someone else which is a possibility after completion.
Roda is the best and my family just love it.