Originally Posted by andyk2

Hi there,

I can´t believe that this post has been ongoing for over a year with the same incredulous comments from the uninformed. This post is intended to answer the ponts raised by Sean, but rather than keep it private, I feel it would benefit the forum if the answers were made available to all.

Sean - some of the points you raise relate to the initial release of 500 plots in October 2006. These were fully sold out some months ago, and a subsequent release of 100 smaller plots towards the rear of the development was made in November. These plots come with an insurance bond attached guaranteeing the deposits of investors until such time as definitive planning is confirmed - which may be as far as two years away (There is also a guaranteed buy-back attached). Investors on the original release have only paid part of the purchase price at present with further stage payments due on outline planning and definitive planning stages. Should approval be denied at either stage, MC Consulting will sell the total 11.000.000 m2 as rural land and have sufficient funds to fully repay all their investors. The land cannot be subdivided into individual plots until definitive planning is approved, and therefore it is impossible that investors will be left with a piece of land with which they "can do nothing".

The bank guarantee that was originally an option on the first release is not applicable to the current plots on offer. However, it covered the investors deposits until such time as outline planning was awarded. Thereafter, the land will have appreciated in value due to the uplift in status (from rural to urban) and should MC Consulting fail to get full planning permission at this stage, the land will be sold as above, with a full refund offered to investors.

The post in which I quote the possibility of there being a further 3.000 plots released (15th May 2007) was, at the time, a possibility. Subsequent events during the presentation stages to the town hall have decreed that there will be a lower density on the resort than originally forecast. In all there are 600 plots released, of which the original 500 will have the "1-in-10" resale (not buy-back) option after outline planning, based on a) the order in which the plots were reserved, and b) the willingness of the investors to resell their plot(s) at this stage rather than wait until definitive planning has been awarded. The remaining 100 plots have a guaranteed buy-back option when definitive planning is approved - these must be the ones you are looking at presently. In total 562 of the 600 plots have now been reserved.

I am not an expert on the Ley del Suelo, however I can shed a little light on the law, its rulings and its possible interpretation. The law was originally drafted in 1956 to preserve agricultural land. Its current amendments are to protect the environment from over development, and JDLR has conducted environmental studies to back up its application as well as introducing some very "green" initiatives in its construction. Furthermore, the law allows construction on land that is intended for residential tourism or where an existing building is in place. The plans for JDLR include restoring the old vineyard and cortigo and creating a winemaking museum on the site as well as several social projects for the residents of Almansa and residential accommodation. In my opinion (and I have to point out here that I do not work for MC Consulting, Property Showrooms or IPIN any longer) the developers would have not continued to allocate resources to this project when they have other, more straightforward projects on which they could concentrate, if they felt that the complex was not going to receive the first stage of planning permission - let alone the permission for the rest of the project.

Irrespective of the outcome, as I have mentioned above, the investors on the current release are guaranteed their money back by way of an insurance bond, and those who invested previously will have guarantees in place, either by Banco Guipozacoano or by the subsequent sale of the land.

As a final note, the outline planning is hoped to be in place by the end of May this year. Thereafter, any plots remaining on the current release will be withdrawn and all future marketing will concentrate on the resale of the plots from phase 1 where the investors wish to sell and pre-licence construction projects.

I hope this brings everybody up to speed on the project and if there are any further (genuine) comments or questions, please post them here.

Have a good night

Andy