construction of the town centre and island

I was out in Torre Pacheco in September last yr and was informed by PW that the Las Terrazas De La Torre town centre is now under construction.  Having spoken to Polaris World only yesterday, for a progress report, I was informed the island is also under construction too!

I also mentioned about the IrwinMitchel comments on their website saying Polaris World was bankrupt. With this in mind,  I frantically tried to contact PW as I have purchased a penthouse on the island. I was informed that on Monday of this week it has been agreed via Credit Suiss and five smaller banks to pay off all of PW debt to the value of 100, million Euros by taking ownership of Condolo Alama resort.

Should this be the case then its great news for all of us as Polaris World clear all dept and regain their strength as a leading contruction company in Spain.

If anyone has hany pics of the island construction please mail them to me at stephen dot j dot etherington at googlemail dot com

Hi Ethers

The best rule of thumb when given information from PW is just the same as deciding what parts of any news story is true  - "Believe little of what you hear and nothing of what you read."

That said the Town Centre IS under construction. Las Islas? News to me. Take a look at my blog and you will see recent photos confirming what they told you about the Town Centre.

I have a quality team of informers! I am hoping to get some current photos and info shortly and will post whatever comes my way.

Cheers

Dave

Currently in Spain and been to Terrazas today and believe me there is not a workman in sight!!!!  ther are meetings taking place on an hourly basis (no exaggeration)  The poor guy at Polaris head office doesn´t even know if he will be in a job from one day to the next and couldn´t tell us anything.  I saw the big cheese Hernandez coming out of the had office and almost rugby tackled him to the ground I´ve never seen someone run so fast.........

Just back from Murcia. Made a trip to PW HQ. Met with customer services who had no time whatsoever as he had run out of lies face to face. Two options 1. Take another appt on the site or wait. No BG nothing, Have to go legal then told he had to go to his office as he had a family to think about too, They couldnt give a damn and all the promises have since evaporated. Went to LTDLT and loads of cranes but not much work going on, However in La Torre thry were putting thr driving range back. Loads of business men staying at Intercontinental dealing with looking at properties. Most people seem to think they wont go under but still no start date for us and phase not started. Las Islas will not be built and definitely no start date. PW ARE A SHAMBLES

I have been out and on site in december and there is no sign of the island appartments been started. there is some founds and brick work done in town centre but work had stopped. i have bought in phase 2 block 287 which is almost finished but for those in phase 1 the place is a ghost town.

colin

Hi

I have received very recent photos of Terrazas and the information which Laurel was given by PW Staff.

davebangor.blogspot.com  for the update.

Have scoured the web for any information on PW over the last few days but there doesn't appear to be an update in the last 10 days or so.

Spoke to a guy at my bank who believes negotiations are still ongoing with Polaris World so no sign yet of the fat lady singing.

Dave

Dave

The banks have apparently taken over all on condado as from yesterday and this has cleared 100 millon of debt owed by polaris. this is good news. there were also a large number of workers on hacienda town centre and they are contacting some of my clients for the only time in 3 years to tell them their appartments are ready on phase 2 in terrazas.

colin

I have recently received 2 lots of photographs showing work has restarted on the Town Centre at Terrazas. PW appear to be in "business as usual" mode which appears to back up the rumours that a deal has been done with the banks.

See the pics at : davebangor.blogspot.com

Anyone with information or pics to share, please contact me.

Any news yet on the opening of the golf course?