We have bought a property at Vinas del Golf - we completed in December 07 - but there are still many properties empty at the development.
We were last in Spain in March and work on Marina seems to have stopped at the moment but work is continuing on the Hyatt Hotel. You are correct, a Dubai based company has taken over the building of the hotel and the estimated completion date is end of 2009 - or so we were told by the development office on site.
Everything seems to have slowed down generally in the area and there is still no sign of the shopping area being started.
However, the golf course was very busy and what work has been done by Evemarina looks good. The standard of finish at Vinas is very good - only one or two minor snags but they are being dealt with.
Hope you complete soon. The area is lovely and cannot wait till we get back there in June.