DeVere Hotel

I'm in Roda at the moment and today there was a digger and 2 wagons moving earth so possibly guys the Commercial centre could be starting (Hope so anyway)

Maybe they are filling the holes in & planting trees????????????

65WL - MAYBE YOU COULD ASK SOMEONE AT RODA AT FIND OUT?

WE WOULD ALL BE GRATEFULL OF THE INFO IM SURE ;-)

Hi  Everyone

My understanding is the movement at Roda is actually the start of the Commercial Centre.

The New carpark will be moved to nearer where the old golf pro shop was (and is now the Sales Office)  It is planned to be finished by the last quarter 2009 and I no of somebody who has already signed a contract to take one of the Units

I am not sure how many Units ,but if you ask for Laura at the Front Office she should help you,

Of the units to be put there i dont no all ,but i will list the ones that was mentioned and i can remember

Irish Bar    Bank   Supermarket     Itailian Restaurant      Wine Bar    Intl Restaurant ...

I think at least 8 Units

Time will tell if what i heard is correct but unfortuantly knowing of Calidona /Roda past history it would be a nice surprise if I was proved wrong and it came in on time , Well one out of many could be classed as a start ?

Cheers

Hi Guys

Just returned home, Jored I think you may have jumped the gun a little bit. I called into the office and asked what the movements of the wagons etc was and the girl confirmed it is the carpark extension getting started and the sports facilities ie: Tennis Courts etc, she said there wasn`t a definite start date for the commercial center but it will happen in the very near future

HI 65WL

YOU ARE MOST CERTAINLY RIGHT , HOW SILLY OF ME TO THINK THE COMMERCAIL CENTRE THAT WE ALL WANT AND

SHOULD HAVE HAD BY NOW ANYWAY  SHOULD BE PUT ASIDE FOR TENNIS COURTS AND A CAR PARK

I AM SURE GIVEN THE CHOICE 99,9% OF PURCHASERS ON RODA WOULD OPT FOR THE START OF THE CENTRE

WHAT A NICE CHEAP WAY FOR CALIDONA TO THINK WE ARE "GETTING " SOMETHING BUILD A CAR PARK !!

WHOOPEE I NEW I WOULD BE RIGHT ,,,, ANY ONE FOR TENNIS ?

ANYONE WANT A BET ,, NO HOTEL BEFORE 2013 !!!

CHEERS 65WL APPRECIATE YOU PUTTING ME RIGHT

Hi All,

I have not purchased on Roda but have on Corvera, with regards to the hotel, it was definitely a big sell that the hotel on Corvera would be a way of getting many rentals for our apartments as they

would be selling our apartments as well.  I am sure you were probably told the same on Roda - and if you were waiting 7 years for the hotel to be built then this is not acceptable and I think you would as a group have something here!

Just a thought!

Louise

Hi All

We attended the recent PHASE 3B meeting and Anna from Roda was asked for an update on the hotel, commercial centre and the tennis courts etc. 

Anna confirmed that :

-the decision on the hotel is deferred to dec '09.

- they plan to proceed with the commercial centre and the tennis courts in the near future.They are currently in discussions with possible tenants for the commercial centre.  No completion date was given.

Viv

 Hi All

I've just came over this web site tonight. I reserved back in Jan 2006 for a 3 bed Penthouse apartment on phase 3b. As yet I have not completed due to the fact that the banks at the time where offering up to 100%ltv. With what is happening to the economic climate I am very reluctant to proceed. Roda email most weeks trying to get me to go over and complete but I was and I am prepared to walk away from this investment and loose my money which stands at approx 88,000 Euros. Don't get me wrong I cannot afford to loose that kind of money but Im now wondering looking at some of the concerns you have (and rightly so) and the lack of progress should I just walk away rather than borrow more money to put into this deal at Roda. I feel the same like you all I also have not been kept informed with progress and completion dates in particular from the Lawyer (recommended by Roda) who should have represented us more and told us that we had options available before we got in too deep.

I contacted a new Lawyer by email yesterday who said it may be possible for me to get out of this but I would certainly loose my 88,000 Euros. He said as far as Roda claiming compensation it would be highly unlikely that a Spanish judge would permit them as what they have received so far is more than enough. Any feedback would be appreciated.

Just to refer back to postings made earlier in Jan. about contract etc. - there is an interesting article in Maria's blog post "Legal tip 33.  Publicity is part of the contract."

apparently dave if you can prove that you have been refused 3 morgates from different banks, you can claim back your deposit. its part of consumer law in spain. i cant remember were i read it but you could ask maria de castro if this is in fact true.hope this helps

Dave T

I have posted you a PM

There are a lot of people waking away however 88k seems a massive loss and perhaps you are not talking to the right lawyer

It has been a long time since there have been 100% mortgages out there and, if you have managed to already pay 88k then surely, based on the property price 70%, which is still be offered for non-resident some only 60%  mortgages could cover the purchase so you need to shop around

The consumer law in Spain relating to the mortgages is specifically designed to assist people where they can prove that either their financial circumstances have changed, due to unemployment or bereavement,  or where, because the property value has fallen so far below the actual contract price, that it is not possible to raise sufficent money on the property, based on the original contract price

For example the contract price is 100k and you expect and you apply for 70k but when the property is valued by the bank they say now it is worth 50k and the most they can loan is 35k and they refuse your application.  If 3 banks reply the same you would have grounds to refuse completion and a claim for cancellation

In your case you will probably find, based on the most recent valuations by banks on phase 3b that the property values of RODA have not fallen dramatically so a 60% - 70% mortgage based on valuation is still feasable

I know that due to the weakness of sterling you will have to pay more but the mortgages are cheaper due to the falling Eurbor rate plus you can still get a 3-5 year interest only period is perhaps an option but agian I don´t know your personal circumstances

Please be careful of people that may offer to buy you out of the contract as some contracts cannot be transferred and you can end up with the costs

I hope this information helps

** EDITED - Advertising **

http://www.devere-hotels.com/about-de-vere/news/roda-golf-and-beach-resort-opening-2009

ace

Hi

The web page appears to have been pulled back (see below), what did it say?

"There seems to be an error. The page you're trying to view is not available or has been removed.

Please check if the URL for this page is correct and try loading it again."

Thats what it said. I can't find a link to roda golf anymore on de vere website.

Ace

Try this

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

Thank God for that, I clicked on the link to devere on the rodagolfinfo site and thats where it sent me.They would want to change it FAST.

Ace

For the first time I shared a plane with some well known UK golfers heading to Murcia. The pro was on his way to Hacienda del Alamo and the amateur girls who all played in last year's Curtis Cup at St Andrews were heading to Almeria.  Why not Roda? No hotel for them to stay at I would guess. This begs the question , what does 'PGA winter headquarters/ training camp' mean if there is no hotel for a group of visiting golfers?

My second point is how long does it take to build a major hotel? 18 months? 2 years? Longer?

Many, including the Bank of England, are forecasting that, after a deep recession lasting about 18 months to 2 years, there will be an equally strong bounce-back. This suggests that the real issue relating to the Roda hotel development may not be the success of the hotel but Calidona's access to funds or the cost of borrowing. Since their cost of borrowing will be at a low Euribor rate plus a premium (which is unlikely to add up to anything particularly punitive versus historic rates) then access to funds may be the real issue. This is fair enough as even the healthiest businesses in the UK are having this problem at the moment and I imagine Spain is no different. But who knows when Spanish banks will start lending again? If the situation is like the UK it could be a month, three months, a year or who knows when?

My point is that the hotel development is critical to the credibility of the resort as a PGA winter base and Calidona has been premature, in my opinon, in postponing for a full year. If the administrators can act as a conduit for owners feelings then I would suggest that this decision is queried by them and pressure put on Calidona to reconsider on a quarterly basis with more honest communication of what the issues are and when they are likely to be resolved.

'Times are bad' doesn't really cover the latest decision. As a famous ice hockey player once said  'To be effective at this game you have to skate where the puck is going to be next'.