Has anyone heard of this development being sold by agents Obelisk International (based in Spain)?

Any views on the development, the area or the agent would be very welcome.

Thanks

Bought something from them in Sofia a while back, but it's still early days when looking at how well it will do. Cluj looks an interesting place to invest, but I found Obelisk a bit too pushy in trying to sell this Fontana one to me and they got on my nerves a bit. I'd have been tempted otherwise. Be interested to know if anyone else has bought through them too.

I bought an apartment in Bulgaria with obelisk last year. Everything went smoothly, no pushy sales guy and they give you enough info to read on the project and the area in order to make your own decision. I also got info on the fontana residence, looks pretty good, I like the sound of cluj, but I'm a bit strapped for cash at the moment, so won't be investing. I have a friend who's looking into the development aswell, so will keep you updated if I hear anything else.

Hi Lsab, I bought a 2 bed in Fontana, sounds an impressing project. The platinum developer are very good and they have finished 2 projects near ***** plant. in the same city The location of Fontanta is very good and still close to city centre. They are building a ring road clost to this project ( Due by 2010/2011). Once it is built up then rental market will be flourishing.

Obelisk are very professional. They will touch only those projects which has got a strong background. Business with them is kind of low risk.

Chandra

Thanks everyone for your replies. They've been very helpful.

After loads of research, I finally took the plunge today and am buying a 1 bed on this development.

It would be great to hear from others who have bought or are thinking of buying here.

I have dealt with Obelisk on two seperate projects, they have been very informative and seem to know the markets well. Although I have sometimes felt they can be a touch pushy at times, but this is how they do their business and seem to be doing well. They have a robust due diligence approach to all projects and seem to stick with the strongest developments. Their latest offering is very interesting and all being well will keep investors happy.

Thanks for that jmac - must say I've found them really helpful - very hands on, chasing things up for me etc. They organised for my paperwork etc to be picked up by DHL and delivered to the solicitor - and they paid for it. I've been very impressed with the way they operate, from DD to exit strategy. I think that their next project is in Brazil but I haven't details on it yet...can't afford it anyway!

Yes, I agree that Obelisk are very helpfull, I am glad to have dealt with them as I am a newcomer to this type of investment. I have heard many bad tales of dodgy agents pushing out even dodgier projects but I think Obelisk are a safe bet. They are almost a 'one stop shop' for the property investor! I am sure Fontana Residence will do well.

Like other readers, I have been speaking to Obelisk about investing in Fontana. If the figures stack up then I would say it's a win win situation. Only reason I am a bit hesitant is because of past experience, a few years ago I invested in a property in Spain on the strenght of a pushy estate agent promising that the property would double in value in 3 to 4 years and rental market was buoyant. Not the case today, the market in Spain is stagnet, it may take a couple of years to turn around. I think Obelisk are much more professional and have their due diligence done. Undecided but must make up my mind in the next couple of days.