by shak » Sun Sep 24, 2006 11:39 am
Hi Colin,
The prices that I was given by Fadesa included VAT at 14 %. This was confirmed by a senior manager not once but on several occassions and further by their sales staff. ( most people would not have asked I however did and why !!!!! becuase I had dealt with Fadesa)
I can therefore come to one of the two conclusions.
1) The senior manager of Fadesa who gave me VAT included prices did he/she knew what the prices were ? and their make up.
2) Or in the confusion/lack of information availible to buyers/investor, Fadesa took this opportunity of effectively marking up by another 14%.
If Fadesa did not wanted to have this situation they should have set the prices clearly, and set out the specifications along with it.
Investors look at risk minimising and a quick return on their money. The lack of very basic info will deter an investor however a gambler will stay in.
It is precisely for this reason that I did pull out. Why would as an experienced buyer. I would buy something.
a) Was first front line beach than it was not,
b) it would have sea view than this turned out not to be.
c) Will have A/c now it would be ducting
d) Will have fitted kitchen now its only the hub and the oven
e) Were promised two bedroom than were offered 1 bedroom
f) Prices offered were inclusive of VAT, it now seams they are not.
g) What else will crop up along the line, once I have signed the contracts
As the planning permission has not been granted yet changes will be made and this will suit Fadesa to our detrement.
Buyers should not taking Saadia as an example as the two are very different, the land cost was different if any, some of the land has been now been sold off. ( Buyers might be interested to know that Fadesa had done social housing in Morocco before Morocco opened it doors to the like of you and me)
The king of Morocco took a special interest in it as this was the first of Azur developments he was there for the officil opening ceromany. The focus is on Saadia . Fadesa has to use Saadia as a flagship. However Kabila is a different story.
As a buyer/investor I have a choice where I invest my money ???
Finally if the forum members do not wish to hear or read the experiences I am very happy to not to contibute. I feel that they can learn from my experience whilst I had paid for this in terms of money/time. The members of the Forum are having all this for free.
Finally, for all those who feel that I may be a disgruntled ex Fadesa staff I am not. I just do a very balance and through research before I part with my hard earned money.