Great News

Back to the thread.

How would you ensure for your clients that this is not devilry going on here Georgia, i.e. to ensure that this is not false marketing? Is there no official way to check if this is legitimate? Past history is not in your favour here given the fact that there was talk of a similar Disney proposal in the Manilva region which as someone else identified came to nothing.

There is a risk here that without legitimate reassurances that potential clients may understandably perceive this as hype, so surely it's in everyone's interests (including your own) to put every effort into researching the reality of this project, and not just rely upon the media as your source of information. Others on threads associated with any purchase in Spain have mentioned the need for good research and financial contingency before committing to any purchase, so surely solid and legitimate research on all the marketing details and legal details for that matter is a valid pre-requisite before anyone should consider investing in this region, if this project proved a significant part of the reason for purchase that is.

Presumably this research is part of the service you provide for clients before marketing a sale Georgia, or is it? Isn't this a similar comparison to off plan purchase which everyone berates these days, as you are dealing with the unknown? Should clients not wait until proof is made available before making a commitment if this project is of significant importance to the client?

Before anyone suggests otherwise please note that this is not intended as a negative posting!

Perhaps great news?, but history has certainly told us not to believe many off-plan ideas, that alone believing those with a possible financial interest, trying to flog an idea before the time is right?  That's not being negative, and not aimed at anyone in particular, but surely it must be a consideration before any plan can be taken seriously?

Sorry Justin, to be off topic. I've to say something about off-plan since it is mentioned here.

Anyone who wants a custom-built home needs to go for the off-plan though off-plan is a risky idea to go for. No matter how careful one can be, there's something which can go sour. Unless you're there to watch the various stages of the development, you really need a very good agent whom you can really rely on, otherwise forget about off-plan & it will be disappointing & a failure.

Forhotspot

when agents have been blamed for some of the worst cases reported, the standard answer from them is '' we only introduce the buyer to the property, we are not to blame.''  I think anyone in their right mind would not expect any more than an ''introduction'' and certainly should not trust that the introduction had the buyers best interest at heart?   What is required I think are  very small deposits and decent regulation to make sure that every stage of the build is thoroughly checked by a government run iinspector, held responsible for any faults by the developers/planning office etc,  before moving on.  Just as important,  a lawyer that you can be sure is working for you in conjunction with the regulation at every stage.

In reality though, I don't know if Spain can ever work like that?, and have the buyers interest as the main priority?. The culture of corruption, brown envelopes, back handers, etc, right through the system, doesn't go well with the strict regulation required for the buyer to be confident of getting a fair deal. As now, some will, some wont, but without decent regulation being introduced, you will still have to rely on being lucky enough to get the good guys in the positions of legal trust that we all have to use at some stage, to do the right thing. If not, you could face a very long court battle, and again with the lack of regulation, the result and timing of that in itself is very much a lottery.

As long as people are aware of the situation, then that's up to them to go for it or not.

Until such time as there is better build regulation and a justice administration system that doesn't compromise investors, in hindsight I would now suggest that only those who can afford to lose their deposited monies should ever consider off plan...... not worth the risk in my eyes as things stand (even with a Bank Guarantee as some Banks don't appear to honour the guarantee without a costly fight anyway).

Unfortunately it's no longer good enough to say do your homework and research as much as possible with off plan as many who did their homework can testify.

This message was last edited by ads on 24/03/2010.

This message was last edited by ads on 24/03/2010.

 Just for the record..... i wasn't and would never ever try to market any property on the presumption that something big is coming to the area, those that know me would vouch for that the fact that i air on the side of pessimsm when it comes to " coming attractions" that will effect property prices.

I am known for telling people that the only place the Spanish will not build is in the middle of the sea or in the middle of the 18th green!! (possibly).

When clients are me "isn't there a golf course being built nearby?" i always answer "seeing is believing and don't bank on it, buy what you see not what you envisage".

I really do hope Paramount build their proposal and that is mainly for personal reasons as it would be great for the area i live in and fantastic to live half an hour from this attraction.

Stating that i saw it on the news was just an observation, not a confirmation that it will be built.

The problem we have on here is that if a property proffesional gives advice it is consider spin at the best and lies at the worst.

If you want both sides of the coin you will have to accept what is being said at some point, my statistics tell me the truth and if business wasn't steady then would i still open the office everyday..........?

Has this Paramount thing been officially announced?  If not, I would take it with a pinch of salt.  If Paramount were interested in Spain, would it not make more sense to build it in Malaga province with it's new airport?  Just a thought...

There is a new international airport being built now in Murcia. I believe it's called Corvera airport.

Patman

You are correct in saying that there is a new airport being built at Corvera, though it is way behind schedule - there´s a surprise!  The new airport has in fact been mentioned in the context of the proposed Paramount venture.

Like Georgia we live in Murcia region so are hoping this all goes ahead.  Not for any personal gain but because we live here, and we hope that it will help our region and our neighbours.

Sue

Think Laverdad printed  a denial yesterday from Paramount Studio's. But that doesnt explain the radio recording from the Minister in the know or the letter supposedly brought back from a meeting with Paramount in Dubai the week before.  Still all a mystery.

Hi All, There is going to be a new airport in Murcia called Corvera, it is on schedule to finish in June 2011 for testing and open for commercial flights in September 2011.  I have also heard of the proposed Paramount venture.

'Apparently' Murcia is favoured because of the 300 days of sunshine, it's less built up and there's plenty of available land. Plus, new airport, new road network and the new high speed rail link from Murcia to Cartagena. Polaris World's Condado de Alhama ll is the site being talked about because its got the desanitation plant, electricity and planning permission as well as being an enormous plot of land. However if there is any truth Paramount being in Spain it doesnt mean they aren't looking elsewhere and the recent happenings in the media- denials and counter denials make entertaining reading. The new airport would be about 20/25 mins from CdAll.

Murcia is a very attractive location alomg with many other parts of this region of Spain

But you should be aware that whilst the work at the new airport is on going there are financial problems

The Regional Junta had to provide guarantees and now this is subject to a EU enquiry as it may be considerd a subsidy to a private company So it will in the end be built but may take a little longer to be completed

Paramount is like Disney before it a ' non realistic rumour' 

Whilst I like the PW Condado location and plans everything is on hold just now due to their financial probl;ems caused by the recession 

However there are some Polaris World Resorts which are virtually complete and even in the worst case scenario should still be Ok for buyers-and there are some super deals available 

I have bought in Alemria just near the border of Murcia which is a bit cheaper and 'it is claimed' the best climate in mainland Europe

 Polaris Condado site is also the most favourite because Polaris are either in or on the verge of going into administration, i read somewhere in the Spanish press that Polaris were filing for bankruptcy, it would be brave person to buy from Polaris at the moment  or a naive agent to push the product at the moment.

Lets hope it happens as it would be a breath of fresh air to the area.

PW applied to the courts in December 2009 for 3 months protection to enable them to sort out the debt problem of circa 100 M €

This was after doing a deal with some of the banks in the summer of 2009

This protection ends on 22 April 2010 and if they have not reached an agreement with their creditors then they will go into administration

So until then there is uncertainty about everything to do with PW

Those on the established Resorts are better off than on Condado which is only part developed

They are still trying to sell properties with the support of their banks and there are also Bank reposs sales about but you are correct anyone interested in picking up a bargain should not sign up until the financial position is clarified

Condado may only be 'part' developed but has  plenty to offer- so dont discount it. Supermarket, bar and restaurant, sports zone and tapas bar, gym, football pitches and of course the golf course are all open for business. There are no properties half built so the horizon isnt llttered with any eye sores and the completed Jardins all have  pools,  foliage and shrubs as the brochure said they would. Whilst the perimeter of the golf course still needs landscaping the course itself is very scenic, a good test of skills and  regulalry used and busy. Polaris have just been given a further month to settle their affairs, what will be will be on that score. Each time we visit there's always evidence of new purchasers arriving. It seems popular with Spanish families

The Minister of Culture for Murcia started the Paramount Park story rolling by telling the media he had been in Dubai for a meeting with Paramount, he apparently has a letter to prove their interest  and said Paramount were in the area doing a feasability study. He then went on the radio to repeat this tale and ask for a period of calm in the media whilst the study was completed.

But- from 'simply networking'

"Following the heated  debate in the Regional Parliament, Valcarcel took members of the opposition parties to his offices and showed them the documentational proof that the region has been receiving very positive messages from those charged with investigating this project and that everything he had said to the press had been completely true.

One of the documents produced is this letter from Hayan Merchant, Executive President of Ruwaad Holdings, who have the brief from paramount to act in their name investigating business development opportunities worldwide.

This letter is on Paramount notepaper"

As I said, entertaining.

From Fridays RTN