I suppose we shouldn't buy anywhere where there is any gun crime then.... Unlucky all those people who have bought in London over the past 20 years - you fools!!!!

Also here is the English:
The majority of these homicides involved with firearms and knives were in Achípano, Los Cocos and City Paper, Mariño municipality. Asimismo en las urbanizaciones Pedro Luis Briceño y San Antonio, en García. Also in Suburbia Pedro Luis Briceno and San Antonio, in Garcia.

Anyone who knows the island knows that these ARE NOT tourist areas, expat areas. They are the barrios where homelñess people congregate, where drugs are sold and where people of any stature never find themselves.... I know Margarita Island very well and you seem intent on painting it in a very poor light.
the pace isnt perfect but it is absolutely nothing like you seem to want people to see it.

You really seem to hate the place!!! Putting your tabloidesque post into context shows that these are the types of crimes that are committed in the run down areas of all cities in all countries. Also the numbers are unusually high - hence the headlines.

STOP PICKING ON MARGARITA!!! JUST BECAUSE YOU LOST MONEY THERE!!!

Either present an unbiased and objective view or just dont post.... You have left the Island - Move on - forget it and learn from your investment mistakes.

As we are all facing more difficult times and many people have concerns over the security of their investments I have received some information from the developer of the Caracola Resort project Mar-y-Casa that will give investors comfort of the security of their investments:

See below e-mail from the Developer.

We have been developing for more than 20 years now and the financial situation of the company is very solid. We have also diversified a lot. The company has invested massively in the last year in other projects. For example in Solar Energy, which is booming now. Our partners are financially key, and our revenue does not come only from construction but other sources too. Developing in Margarita has other advantages. Banks can finance up to 100% of the construction cost. Bearing in mind that the land has been paid already, there is no distress. The finance is secured at 100% for the whole development cost.

The key thing in the Caracola project is the common areas, which is what makes it a special development (and the location as well). Worst case (which would actually be the best for the investors) is that they would have the first block and all the common areas. The hotel operator is aware of this too and happy. So worst case scenario, we would develop the first phase altogether with the whole common areas and leave the other blocks until the end. We are starting the construction in November.

I understand that in the actual credit crunch, some investors might feel some stress, but there is no reason to be pessimistic about Caracola.

Hi
I there anybody who knows what is happening with La Ensenada development?
Shall be gratefull for any information
Best regards
Olga

Not good news Olga. The main agent has moved on and has put me in touch with the developer directly. He has been busy trying to find another investor to replace a previous one that was a victim of the credit crunch. His management of my expectations consits of sending several negative reports about the collapsing tourist industry, inability to raise loans and political instability.

Building operations have ceased until (and unless) he finds a solution and agents are being asked to remove the sales brochures etc from their web-sites. The bank on which the developer was pinning his hopes has recently declined to invest.

So...who on earth is going to invest in a piece of desert with a few partly completed houses on it in the current climate ? It's hard to see anything moving in the forseeable future.

The betting is that at some point the site will be sold to the Goverment at a knock down price and become a housing estate for locals. In which case we will eventually be left with the consolation that we have personally financed the housing of a needy family. In the meantime losing £40,000 hurts big time !!!


K

Dear K
Thank you for reply
I also got similar letter from developer - just "financial crisis, oil prices etc, etc"
I sent him several mails with request to explain how the funds collected from the buyers (i suppose, that with first stage totally sold, with financing equal to almost 50% of the selling price he MUST have funds to proceed, even with low speed) but he does not answer to these mails.
I already informed my lawyer in Margarita to get in touch with Ensenada Inc. lawyer
Or you think that nothing can be done in this situation?
brgds
Olga