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Spoke to PW customer services (again) last night and they are now saying that the Golf Suites phase is scheduled for completion between JAN - JUNE 2010 - starting building later this year because there is still some problem obtaining a "licence" to build ??????

Suppose this could be good news to give Euro/Pound chance to recover, BUT, I would much rather have heard that our apartments were due for completion Summer'09 as previously promised and we could start to enjoy Condado like everyone else - c ya all some day (I hope)

I have been in contact with Polaris World today.  I have been told that the building licence has been obtained and that they are completing on all other phases of Condado (La Isla, Penthouses, Jardines, etc).

The next two phases are the Golf Suites and the Villas.  The Golf Suites are relatively small compared to the other phases and therefore would anticipate speedy construction.

Completion expected for second half of 2009.  It seems we are back to the original dates?

Sounds like good news to me (but would like to see evidence of construction commencing).

Bank guarantees seem to be slow to come by once again.  Polaris World say the banks are very slow in issuing these.

Hi Steeley - great news - hope that you are right and they are "back on track" - I'm like you and will only believe it is happening when someone can actually report/photo some site works happening - at least Euro should be better by end of year and we can then have a double CELEBRATION - c ya

Further update...

Someone else from PW called me today (after my lawyer emailed PW).  Building work should start in the very near future.

However, in contrast to what I was told on Wednesday, completion is scheduled for the first half of 2010!  I think this may be PW covering themselves on completion dates.  I suspect, that once construction starts, as with other phases there will be sudden pressure from PW to complete ahead of 2010.  As they have already said to me, the Golf Suites are a relatively small part of the Condado project and construction is expected to be a rapid process.

Uncertainty over completion dates doesn't help us with planning holidays, etc.  However, as long as they build my apartment, I will be happy whenever it is finished.

Hi All,

The contract is for completion and delivery of the properties up to a maximum of 18 months from commencement.  The program / phasing for building work was subject of an earlier thread, so depending upon where they concentrate on construction, it could be well into the 2nd half of 2010 before some of us complete.

keeve

To be honest I am not taking too much notice of the contract.  PW seem to do as they wish anyway.  Reading other threads there were a number of buyers on Jardines, etc who, out of the blue, were given a completion date with little assistance in helping buyers complete on the given date (or change the date to better suit the needs of the customer).

Based on the various conversations I have had with PW, I would be surprised if the Golf Suites take more than 10-12 months to build.  Taking the positives, if the Golf Suites finish early, then we get a nice new apartment in Spain sooner rather than later (provided I have no troubles getting a mortgage in the current economic climate).  If completion is in 2010, it gives us more time to pay off debt used to finance stage payments and, as Patony said, we can live in hope that the exchange rate recovers.

My only wish is for the Golf Suites to be completed at some point in the future (don't care when!).

My wife always says that I look at everything with my "glass half full" where she always says her "glass is half empty" - I still think that all the comments coming from PW at the moment mean that they WILL start building GS sooner rather than later and we WILL have an apartment by end of this year or 1st qtr next year - and for me this only represents a delay of about 6 months (not bad !!! - half full glass) .

I "beg" any other Condadonians who may be on-site and read this blog - to add a note as soon as they see any kind of work starting on our GS phase so that I can "top-up" my wifes glass - thanks all - c ya

hi, If you are looking for photo's on the development of the resort I would be happy to deliver. 

Hi all,

I've just returned from Condado.  It was my first visit and I was quite impressed with the magnitude of it all and what they've done in the overall scheme of things.   However, not a shovel to be seen on the GS site.  Customer Services and Sales wouldn't commit to a start date, each saying 'maybe the summer' - not impressed.

keeve

Keeve - thanks for update, not exactly the news we were hoping to hear, but we'll keep our fingers crossed that they still start 'sooner' rather than 'later' - pleased we didn't pay any deposits on furniture packs last year when we were over there and everyone was trying to sell us "unbeatable offers" if we signed up straight away - we'll keep waiting and hoping - c ya

spoke to polaris customer services today and  was told completion in 18 months time, also informed they are contacting owners to see if they want to purchase a different property else where on a polaris complex any one else been contacted about  this, golf course to be open in  november ,driving range during the summer

We were told completion in 18 months too...fancy that...hmmm but that was in April of 2007.

We originally bought an apt in El Mirador and were informed that it was being shelved for the moment. So we changed our original purchase to a Golf Suite end of last year after being offered alternatives too but elsewhere on Jardines and Naranjos for the same purchase price of 4 years ago...cheeky or what !

So all in all still waiting on word for the Golf Suites to commence......meanwhile Polaris are STILL holding on to our deposits paid nearly 2 years ago and NO refund as they havent breached the contract according to them in regards of our original purchase. So we are still paying for that sum right now with no return as of yet in regards of a finished product.

I'm sure a lot of others are in the same situation as we are....so trying to keep the bright side out.

Dont believe everything Polaris tell you....Good Luck !

I called PW Customer Services to COMPLAIN about more broken promises on completion - they told me (another) 18 months to 2 years for completion and said they would do me a "big favour" by offering me a 2 bed in Jardines for 133,000 Euro - and I should be delighted that they were offering me the same price that they were originally on the market for back in 2007.

You can imagine my reply to the guy - "thanks for all your help and generous offer for making us wait ANOTHER 2 years" I said !!!!!!!!! - "you really are customer focused trying to help YOUR CUSTOMERS now that you have taken our money and delayed things yet again " !!!!!!!!!!!!!

I find it hard to believe that they are taking this kind of attitude with us in the current economic climate - the guy did also remind me that if I cancelled the contract I would loose the 40% already paid - I asked to speak to the Customer Services or Sales Manager and he said they would call me back - still waiting of course - you may detect I a little bit "PI***D OFF" by it all - c ya 

Still waiting for Managers call-back, and probably will be for rest of this year - has anybody else had any contact with PW over this latest delay in building  ?? - any further info from anyone ???

I'm still living in hope that they will have a sudden change of heart and start building later this year - they MUST be needing all our balance of 60% to help their cash flows

Have had an update from PW.

This update came off the back of me asking questions about the chance of the Golf Suites ever existing and how feasible it is to "plot swap" to another place on Condado.

I have been told that the Golf Suites have been delayed, but that completion is still expected in the first half of 2010.  The scale of the Golf Suites resort means that this is not a large project for PW.  Therefore construction time is expected to be short.

With regard to "plot swaps" - this is possible, but the price of properties are not open to offers i.e. bargaining will not be permitted for existing plot owners.

I said that I understand why the Golf Suites have been delayed i.e. money needs to be put into The Foro, Golf Course, etc.  Apparently this is not the reason for the delay.  The Foro and Golf Course have their own budget and do not affect the Golf Suites at all.  I asked why the Golf Suites had been delayed, but the contact gave an honest answer in saying that he did not know.

I asked how many Golf Suites had been sold.  He said that there were not many left (not conclusive).  However, he did say that only 40 units needed to be sold to get the minimum requirement to commence building.  This has been easily met so it should be full steam ahead.

Based on this I wonder whether the delay is a result of building licenses still not being obtained or other legal matters.  This point has been brought up before.

I said I am happy to wait for the Golf Suites to be built, however, my concern is the second bank guarantee.  PW have been chasing these.  Apparently the bank will be sending these out in huge batches.

In the meantime I guess it's just a waiting game.

David

Hi all,

My solicitoer, based in La Zenia, went to PW last week to ask for the bank guarantees and to see the building license.  He failed on both counts.  Story was the same as yours David; mid 2010 for completion; bank guarantees on the way; plot-swap (like it) at original prices.

I tested the water with PW London Office, asking them what plots were still available on GS.  They said they would have to contact PW headquarters in Spain to confirm.  They phoned me straight back, announcing proudly that they were SOLD OUT but could offer me another apartment on a different phase.  I don't know what to make of that quite frankly.

So............................. I'm waiting for a JCB sighting, a mixer, and a few hard hats on the GS site, then I can breathe a sigh of relief.

keeve