Final Poll Question

[romablade1889]

What initially attracted you to Alkudia Smir? Indicate your main driver out of the options given...

[romablade1889]

Shak mate - I know this is only a tiny poll and therefore can't really be regarded as accurate, but it's still interesting to see that so far 50% of respondents say Fadesa's reputation was their main driver for purchasing at Kabila.

This is what I was talking about when I was going on about the majority of future buyers don't see the side of Fadesa you're (quite rightly) pointing out. To the great majority of buyers Fadesa represent a "safe" investment. This is why to some degree I think the final quality of the build is irrelevent for those wanting to sell on quickly (assuming they're not crumbling when finished ). You'll always get buyers that will want to go with a reputable builder, even if under the surface their reputation is built on a foundation of sand (to use a relevant mataphor)...

My conclusion - Fadesa may have done badly in some developments in Spain, but generally their reputation is a valuable asset that commands a premium on prices. This is good news for Fadesa's shareholders but also those of us that intend to invest in their properties... Do you get my drift?

Think of it like this... Mercedes or Ford? Mercedes is much higher in price and has a much stronger reputation for quality than Ford. However, if you look at all the quality surveys, Fords are actually better built these days... But people will pay more for a Merc for the perception of quality..

[shak]

Hi Romablade,
Although its a small sample and one can extrapolate it. As already been discussed that Fadesa has done 100,000, properties. I know a side of Fadesa operation that most or none of you are aware

All of us have to take our own views on how and who we do business with.

[sabrina]

I think one of the reasons Fadesa got three votes out of 6 is because potentiall Morocco investors were first attracted to developments like Playa Vista, Royal Asilah, Paradise Beach and whatever else was round before the Fadesa development came up. After all the uncertainty with these developments; lack of bank guarentees, planning approval, bankruptcy, criminal involvment by the developer, that when a development by a known if not quality developer came up, those who were eager to invest went for the Fadesa development simply because the developer was known in Spain.
When you deal with a known developer you feel that you are more likely to get your deposit back if you change your mind.
I have just spoken to an MRI agent who also said that the build quality of some of the Fadesa developments in Spain had been poor and that Kabila is not a quality development.
Although Romablade i think you are right when you say that the first blocks will have to be good in order for Fadesa to keep selling the development, but how many will have paid the large deposit before we find out what it is really like.


I have just been reading the eyeontheworldwide forum and at 33K for 2 bed 2 bath, I wish i had bought at Jawhara Smir, but I wasn't sure about the builder.

[shak]

Hi Sabrina,
See you are back on night duty. I hope that you dont mind my marriage offer on the Forum. As we had spoken and you told me that you were married it was a tongue and chhek remark to get away from people like Kabila investor.

Any way back to the subject matter. MY views on Fadesa are well known and it seams that some people are kneive enough to ignore this it is ofcourse their choice and we all have to live with the decesions that we make.

Be carefull of MRI, they have bought some properties from the developers and are now selling them at a very decent margin through their net work. Yes people are buying and this is what I meant buy mugs.

Besides on the quality of the Fadesa you will expect MRI to say what they are saying ( who did you speak to ?) Its not very professional, but than they cant help it as the MRI sales staff is not paid any basic salary its only commission.

If you are thinking of buying a property and turning it around before completion its a risky proposition. What ever romablade says he is more on the acadamic/theory side of things.

I know people who had bought 5 to 6 off plan in Spain with a view to flip they cant do it and now having sleepless nights with the potential of loosing 40% if not already lost

I am saying all this to you as you are from the community and i would not like you to loose money if you going with a view to selling on than please have plan b. People think the property in the whole world is like London market it does not.

AS I said if you ever want to discuss, please feel free to e.mail or call. Calling is better as there are various facets and it all cannot be covered in an e.mail

cheers

[romablade1889]

Shak,

"Academic/theory side of things"... You're having a laugh. I've got over 15 years experience of providing marketing consulting services to multi-nationals.

Bottom line is - reputation sells and Fadesa have a generally good reputation. This is not theory but experience. For every Shak in this world, who carefully does his due dilligence and unearth's problems that could (and probably should) damage reputations there are 10,000 others that don't.

My point - Fadesa's reputation attracted off plan buyers and will continue to attract resale buyers when it's time for us to sell...

The quality aspect is a risk and I must admit an issue for me. It may be one of a number of factors that finally makes me decide not to buy. However, I have no doubts I could buy a property at Alkudia and sell it for 20% net profit in 2 years time... Question for me is - is 20% sufficient return for the risk...? Haven't decided yet, and don't need to until my allocation is finalised - so I'm sitting tight and getting on with my due dilligence.

[shak]

Hi Romablade,
No, I was not having a laugh, of course when you are presenting a case to multinationals you need to have the case water tight to buy or not to buy otherwise you loose your reputation in the market.

As in the case of Marina Alkudia you only have to satisfy yourself and can take a less scientific approach, this is what I meant.

ciao

[sabrina]

Hi Shak,

thanks for the advice.

I don't have any plans to go through MRI for any property.
My number had been passed on to them by Property Showrooms. This was because I had enquired about some Marina Smir apartments that Romablade had kindly given me the link for. They did not have the ones I was initially interested in and said that the ones Property Showrooms were advertising were out of date.
Romablade, if you do find other developments in this area please let me know.

[romablade1889]

Hi Sabrina,

Did MRI/Property Showrooms say whether the Marina Smir properties had all sold, and if so what price they are currently worth?

Marina Smir and the other one (Jahwari or whatever) are probably the best benchmark for Alkudia's potential...