Mediterrania Saidia - Morocco - Owners Group ForumThis forum is dedicated to those investors who have bought property in the Mediterrania Saidia residential property and tourist complex on the beautiful Mediterranean coast of Morocco. Owners of Le Jardin de Fleur and other complexes in Saidia are welcome here and asked to contribute their purchase experiences with other members. The aim is for all to learn and share information and photos as the development progresses.
Funding IS MOST definitely in place according to the Company and, Superior's position has nothing to do with future progress.
Hope this is true...my sources are reasonably reliable since they're based in close proximity to the developer and conduct business with them on a regualr basis at senior level.
This is the message, which has been sent from Oasis as an explanation to the situation.
"It has been brought to our attention that The Superior Real Estate Group Ltd have entered into administration in the UK to protect its creditors. This is indeed very sad news as we have always found the company to be extremely professional in their dealings with us.
We feel it necessary to write to you to confirm the exact position in respect of your purchase of real estate at Oasis Beach and Golf Resort, Saidia, Morocco.
Firstly we can confirm that your contract is with Oasis at Saidia SARL and not The Superior Real Estate Group Ltd who simply acted as one of the many sales agents appointed by Oasis.
We can also confirm that all your payments have been accounted for in Morocco and have been duly registered with the exchange control authorities. You have absolutely no cause for concern regarding your dealings with Superior Real Estate Group Ltd, your money is with us the developer or with lawyers so is completely safeguarded.
Many of you may be wondering what the current position is with Oasis, so we have taken the opportunity to explain the current situation to you and what we are planning for the future.
Firstly, we are proud to announce that all ground works are now completed in phase RT5 and the structures for the apartments will start this month. We are still awaiting licenses for phases VVT2 and VVT3 but expect these to be released over the course of the next twelve weeks. (Please appreciate we are dealing with the Moroccan authorities and this can be a time consuming and frustrating process!) Once we are in receipt of the licenses we can commence the construction in these phases immediately. This we anticipate will be May/June. The positive news is that virtually all the construction surrounding Oasis will be completed and the golf course open by the time our project is completed so there will be no issues with building works. This is great news to those of you who wish to rent your property out for rental income as there will be no impact on rental rates.
We have a very professional, talented and dedicated team of project managers, engineers and architects based in Marbella and on site at Saidia. Our promise to you as an owner is to ensure that construction is maintained to the highest level. Our intention is to have the best project within Mediterrania Saidia. Some of you will know that we have already won Arabian awards for the architecture!
Furthermore, we also appreciate that dealing with people that are based overseas is sometimes frustrating and it is for this very reason that we have now set up a full and integrated customer care centre which is based in Bristol. They are there to help you with any questions you may have both during and after construction. They will liaise with
Morocco and Spain and answer your queries in a prompt and professional manner.
The Oasis website is currently being refreshed and it will contain many new features including weekly photos showing the building works taking place. This will allow you as an owner to follow progress in real time. This should be fully operational in March.
For those of you that have not visited Mediterrania Saidia recently there has been incredible progress. The whole development is looking absolutely fantastic with the first hotel completed and opening for business in the summer. The first golf course is virtually ready to play and the marina already has some boats moored. The shopping centre known as the medina is also well advanced.
Finally, on behalf of Oasis at Saidia SARL, we would like to thank you for your patience and wish everyone health, wealth and happiness for 2008."
I have spoken to the Oasis people and my legal representatives and am confident that all is in hand with our investment.
Hi Mr Goodliving - interesting statement from Oasis - where did this come from ? Did they email this to you, or post ? As a purchaser in Oasis, I haven't received anything yet ?
I have forwarded the message above from Oasis to my solicitor to check out. He is contacting Fadesa to see if they are taking over, it is nt clear if the Morocco company has been liquidated, and is checking to see if the deposits are held in an Escrow account in Morocco. Will come back.
Joppa
I have received and assume everybody has now received the hard copy of the letter which Mr Goodliving postes above. Looks like we are all ok thankfully, but I am yet to receive confirmation from the solicitor.
I have spoken to Oasis Beach (UK) and am much more hopeful. Core staff and directors appear to be common to both defunct Superior and newly formed Oasis Beach & Golf UK, which may not be a bad thing as it should ensure continuity.
Am told an inspection-flight charter may be arranged for late spring/summer to impress us with the progress of the development as a whole -- though little has yet been achieved on The Pines and The Palms, it seems.
Just a thougght... In the light of recent events, and past lack of communication from Superior, does anyone know of plans for an Oasis owners' association so that information can more readily be shared?
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