What's happening with JeansSis?

Hi All,

Many of you have requested an update regarding progress at La Condesa.  As explained in the last update, we will send out a report once we have finished our talks with Banco Pastor.  We apologise for the time this has taken, but we will have the conclusion by very early next week.  Until then, I am not in the position to send a full update.  The site office is closed as our office staff member is on holiday.  He will be back in the later part of next week.   I can assure you that there will be a really positive outcome and works will resume onsite in the very near future.  Wed and Fri are public holidays in Spain, and Thursday is taken as a bridge day, therefore the ealiest I will contact you will be next Monday. 

Kind regards

Debbie Muirhead

All together now.....

WHY ARE WE WAITING?

WHY ARE WE WAITING?

OH WHY ARE WE WAITING?

WHY WHY WHY?

I have news that a new developer has moved into the Condesa site office and has started (or is starting) work. Can anyone who is passing by, or our very own angel with the binoculars in Mijas (nanny jersey)  please check this out for us. Would be very grateful.

I also heard the new developer will complete in 6 or 7 months and take additional 2 months for the first occupancy licence.

Sabura

Here is an extract of an email from my lawyer which I received this evening in reply  to the questions  we have all been asking.

"However we have contacted the Developers’ lawyer and has confirmed us that the promotion of  La Condesa Mijas Golf has been acquired by Banco Pastor ( which is the bank which has granted the Mortgage to the Developers in order to execute the building works ). The Developers (Majestic) could not face the payment of the mortgage . For this reason, the bank decided to buy the shares of the company and be in charge of finishing the construction of the development in order for this to be handed into the buyers. This sale has been carried out some weeks ago and we are waiting to contact with the new lawyer appointed by Banco Pastor

As soon as we have further news we will let you know immediately."

Dear Sandra

Thank you so much for the information from your lawyer.   Hopefully the Bank will want to complete as quickly as possible to make it financially worthwhile.  Lets keep our fingers crossed.

Regards

Dueno

It will be atleast 6 or 7 months before building completes, and a couple of months after that before certificates are granted. I would anticipate October if all runs smoothly.

Sabura

Hi All,

I am still waiting to find the result of my second petition for my deposit refund!!! But check this site out....one of the reasons for Majestic holding out maybe?http://www.lexingtonreed.com/associates.php...they promised investors things that could not be done in the present property sales environment!! 

Dear Owners of La Condesa,

As part of our ongoing commitment to communicate the progress of works at La Condesa de Mijas Golf, we would like to take this opportunity not only to wish you a Merry Christmas and a Happy New Year, but to relay some important news regarding the project.

As you are aware the project has seen some unfortunate delays due to several circumstances that were beyond anyone’s control, these circumstances have not only caused delays at our Mijas site, but on our other sites as well.

In a proactive move to ensure that no more delays are incurred, Majestic has taken some necessary steps to ensure the imminent completion of La Condesa de Mijas Golf.  As you are aware from our last update we have been in talks with the financing bank, Banco Pastor.  An agreement has been reached that we believe has the interest of all clients concerned.  Banco Pastor has helped to find a third party contractor who will now take sole responsibility for the completion of the outstanding building works.  Majestic will of coarse be on hand to aid all property owners throughout this transition.

Majestic consider this to be the most stable option for the present owners as completion of the development will be guaranteed by the bank.  Ultimately, Majestic would like to see La Condesa progress into the quality development that it will be on its completion and ensure all owners are happy with the end product.

Although Majestic will have no further links to the completion of La Condesa, we will still take responsibility for actively re-marketing investor units through a variety of retail activities which we have in place.  We are also continuing to pursue other avenues to ensure all investor units are sold prior to completion.

Finally, as the year is drawing to an end, we will be closing our offices as of Friday the 15^th December and will be reopening on Monday the 8^th January.  Once again we would like to thank you all for your support through out 2006, and wish you all a Merry Christmas and a prosperous New Year for 2007.

If you have any further questions or need any further assistance, please do not hesitate to contact me by email on stephanieb@majesticspain.com

Kind regards

Stephanie Regnault de Bouttemont

Majestic Group

     My   immediate response to this missive from Majestic  was   unprintable!

They have been arrogant beyond belief in their last two 'edicts'. One of which was e-mailed to all the purchasers and this one.

 We have waited for over a week now, some of us anxiously, for the news which
they should have imparted last week and could have done many weeks ago. My lawyer stated in the letter which I posted below,

 ”......This sale has been carried out some weeks ago........".   
And, do they honestly believe that people who do even the slightest on-line investigation of their company will use their estate agency department ? I think not.

Such fabulous customer service!
 Just throw a letter at us containing a heap of  vague sounding bull****  and excuses and then lock the office and b***** off on holiday whilst we all stew.  For a month in August and now three weeks at Christmas.
 

One consolation is that we do not have  to communicate with them again.

 We must wait now and see who the new developer is. My concerns are that they
do not cut corners in order to make the development profitable for them.

I am still of the opinion the kitchens were re-designed by Majestic using
lower quality fittings,appliances and work tops in order to cut costs. I was
not on my own in these thoughts as was expressed on EOS after we saw the
first  photographs of them.

 At least it seems our investment (deposit) is safe for the time being.   

I can truthfully and wholeheartedly say that this website and others like them are    a godsend to purchasers of Spanish property and an absolute nightmare for some of the Spanish estate agents, developers and lawyers who believe we purchasers should be treated like mushrooms. I.e., kept in the dark and fed s***.