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Old 24-03-2008, 06:30 PM
camel with three humps camel with three humps is offline
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Join Date: Aug 2007
Posts: 168
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Sorry, Simon clark. I am not the one to kick some one when they are down. However you deserve what you get when dealing with such an unprofessional, unethical, uncaring and bordering onto corrupt outfit like Fadesa.

As you may know that Fadesa has been sold off to Martin SA and half of their Assets in Morocco are also sold off. Fadesa has messed up big time carrying on with their business practises in Saadia. The local knowledge is that the King has been very annoyed with the lack of infrastructure, sanitation, water supply and other activities, that he has shown Fadesa the red card. The king had placed his reputation on Saadia as the first and the flag ship project of the Azur plan.

The balance/stage payments of the purchase price due to Fadesa by Martin SA, has been creating big cash flow problems for them and in the present credit crunch and the state of Spainish construction industry, I
know that even the well established developers are struggling to raise cash. The buzz word is survival.

If you feel that you can name or shame "Fadesa" on this or other forum you are wasting your time. Just sue them and put it down to experience.
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