you don't, however Philip is writing the contract for the developers, so i don't see any point in hiring him to scrutinise the contract. Also, we won't be allowed to make any changes to the clauses in the contract. Therefore, the only point of getting an independent solicitor to scrutinise the contract will be for peace of mind and then if anything comes out iof it which we can't live with, we have the option of pulling out of the purchase. so really, any benefit that solicitors will bring to the equation will be minimal. The other servcie that Philip Morris will be doing is the Notaire side, ie signing contract, transfer of title deeds, payment of taxes etc.

I have discovered that you can get a local notaire to do this service for £200-£400 pounds, considerably cheaper than the 2% Philip Morris will be charging.

slight change of subject, but can i ask why people are so confident tanjah will be a succesful development. i went over to the site last week and there is nothing there. no signs, no guards and no machinery. we are to believe there is to be an 18 hole golf course on site.is it to be sandwiched between the coast road and the motorway.wont be a very big course if thats the case. also there is serious flood water which is more like a lake, supposedly to be used for the golf course. i have reserved a front line appt at tanjah(almost a year ago) and really hope it comes off, but there remains too many unanswered questions.

Yes, i was suprised by how close he motorway is. I think for people who are at the back of the development and haven't been to visit the site, they should go. The site is plenty big enough for a golf course though as the apartments will be on the golf course.

The flooding doesn't concern me. It is there because of run off water from the motorway. Once the ground is landscaped, the water will be used to build the many lakes that the golf course will have. i think there are many more lakes than a normal golf course normally has, and I suspect this is to do with the flooding. Whether lots of lakes adds or detracts from the overall look and feel remains to be seen.

Regarding no building going on, that is because the build license has'nt been granted yet. Once they get this there will be a 25% hike in prices. If they don't get it, the reservation fee is fully refundable so no risk there.

It is a case of comparing the facilities, location, apartments, pricing structure, accessibility with other sites and other investment types. I think on balance it is the best investment currently in morocco. But obviously it is an opinion and everyone needs to do their own research, separate out the facts from other peoples opinions, look at the fundamentals if you are in it for an investment and then come to your own informed decision.

I intend to proceed, but i also naturally have my concerns.

1. Will the low cost airlines ever fly to Tangiers?

2. Will the European property market suffer a downturn, which will mean at best static prices for Morocco holiday market.

3. Will the finish of the development really be a european 5 star finish?

4. Will the traffic move off the road and onto the motorway once the development is complete?

But compared to other developments in Morocco and in other parts of europe, you are getting an almighty bang for your buck!

I agree, I went out a couple of weeks age and the spot looks great. I think once the traffic calming measures go in, not just for this site but the other three on that stretch, using that road will not be such an attractive option for heavy traffic. I have reserved a penthouse about half way into the resort so I am hoping to be far enough away from both road and motorway for it not to be a problem.

My main concerns as we come to crunch time with this development will relates to the contracts/legal side as others have mentioned through to finally breaking ground, this will have been a long wait for the earliest investors so lets hope our faith pays off.

I've heard that the developer/funder for this is caught up in all the property scandals in Marbella and has had bank accounts frozen or is in prison. Anybody know any more?

quote:

Originally posted by MarbellaMick:
I've heard that the developer/funder for this is caught up in all the property scandals in Marbella and has had bank accounts frozen or is in prison. Anybody know any more?

Here lies the main reason I preferred to invest in the more pricey Government Plan Azure resorts. I like to sleep at night.

quote:

Originally posted by MarbellaMick:
I've heard that the developer/funder for this is caught up in all the property scandals in Marbella and has had bank accounts frozen or is in prison. Anybody know any more?

A bit...I originally invested in Tanjah last July & it has been a bit of a saga since then. Firstly lets differentiate between the developer & the main agent... Spanish Co Gilmar are the developers, Dreamworld are the main agents for the site.
Gilmar are an established developer in S Spain, however the father of one of the board of directors was heavily involved in the land grab scandal & I believe was imprisoned. There is no known link other than that been established ..however you may wish to consider developments in the Spanish market & ask whether any Spanish developer in these specific areas has their hands completely clean? How this affect the stability of the development...is up to you...Gilmar have a LOT of money so their financial stability is I would suggest, not a factor...is it "clean"...I leave up to your consideration.
My experience of Dreamworld is that they are a complete shower & I am extremely surprised at their unprofessional approach to date. As has been written about on other sites (at length) their November site visit was a farce with the result that many early investors withdrew. I was not at the site visit but requested they show me the site a couple of days later...I had deposits on 3 units...I was in the area a week & was fobbed off with people promising to take us & never turning up. We saw the site courtesy of a local taxi driver on our way home. I have withdrawn from this development..the area is great & we have since bought in Asilah but our experience with dreamworld was not & we were not alone in this. I invest when I know 1. The amount I have to put down & subsequent staging, 2. When the property will complete 3.Staging of build. (I could go on but these are 3 key issues for me) what we found was that 1."the revolutionary financing plan" promoted to us was actually not yet fixed 2. Planning permission had not actually been granted...plus the build completion date was linkely to go back by a year 3. Far from being built in one stage only (plus point so not cranes on site & we all know what we are get) there was a 2nd build going to happen some of which would actually be frontline on the beach.....with the risk to our "frontline" views...so I ask you would you go ahead?
The area is lovely it's going to be fab & I do hope that tanjah succeeds but would I risk MY money ..sorry no.

Hi there I am very concerned regarding the solicitor Phil Morris as he is working for every one and I also felt that he was just being recommended as I do not intend to use him at all he is far too expensiveI feel we all ought to get together and appoint an independent solicitor at a reduced rate, by the way I have reserved an penthouse but I also do feel that this is really dragging on now- is ben over a year lol!

Hi all, just found this site and found all the posts very interesting. I reserved a unit through vicory last November and was told that the resort had only been on the Market for about 5 weeks but by the looks of things it had been on quite a bit longer than that. I was wondering if anyone has done anything about appointing a new solicitor and if so would it be too late for me to get involved.

SCAFF

Vartmina, you say there is a second build along the front? who told you this? there is no room along the front for anything. The development goes down to the beach and we know what the plans are. Could you give more details

You may have the plans but that does not mean that that is actually what will be built.I saw three variations of plans last year...but then that is the nature of off plan...some investors suddenly found that the unit they had put a deposit down on was now going to be next to a round about.
I heard whispers in July about a second build, obviously as we had reserved 3 "frontline beach" units i was concerned. I was told by different agents marketing this site that a) there would be no future build in front on the beach side of the road b) there would be build but only single storey c) that the land had already been bought for a villa.(you take your pick)
When I went out there I was careful to look at the area where (as close as i could approximate) my units would be...there is plenty of room to build something there (towards the northern edge of the site. )
After our trip I liased with a number of other investors who had been on the official inspection trip. there was discussion re 2nd build phase on the beach then. Frankly by that time I was past the point of caring anymore about this development anyway so i did not follow this up any further. However the artist impressions do show units on the actual beach, - is this artistic licence? perhaps ...however some Morocco developments do hold beach front units back for later phased build to sell at a premium...after the experiences I had had to date I'm afraid I just bailed. I refer you to Tanjah Talk on the side menu of on www.4stuff.co.uk. You will find a wealth of information there from a group of us who were involved in this investment last year...many of us are no longer involved in Tanjah but are sharing information between us on other investment opportunities off line to avoid being sandbagged by agents.

vertmina, i recently visited the site and couldnt see where it was possible to build in front of the apartment i have reserved. looking at the plans there will be villas or apts on the right hand side from the beach front. my gripe with this development is the time it is taking for building to commence. on the positive side the price is decent with a good payment plan.
can i ask how many of the group remain commited to tanjah

I am

Don't follow where you mean on the site.
But you think there isn't enough room, I think there is where our apartments was - which was on the north side just as the road bends to the east as you travel to tangier. so I think we should agree to differ.

Re the group - there were about 20 of us back in Nov I think 5/6 are staying with it...you can check this out for yourself on the website I gave you earlier...we ran a poll who was in/out & I think that is on the site along with a lot of comments.

This site http://www.pbgr.co.uk/forum//default.asp if you look through has copies of the lastest plans, the beachfront properties are to the right of the original plan.

I am still in.

Yes I'm in. Looks like phase II doesnt affect phase one. I also see from the pbgr forum that there is underground parking and lifts, if this is the case then this will add substantial value to the properties.

Hi all,
I am a new investor in Tanjah, we have reserved a second flour 2bed apartment (sea front). I am very positive about it, although we have read many negative things about it..
I am British-Moroccan and was born in Tangier.I think Tanjah is an important project and will be a great sucess. The only reason i have for my confidence is because i know that the King Mouhamed 6 would do anything to make his 2010 vision a sucess..and Tanjah is part of that.

Hi guys,
I'm in too. I can't wait for the development to start ( if it ever does !). I have seen on overseas property forum that alot of people are pulling out, which does worry me a bit. Also i have noticed that other people seem to be much more up to date with whats going on than i. I hope dreamworld would be just as informative to all its clients. Also i don't think that the rd close by will affect every1 thats bought there, only the ones that have bought nearer to it, as the development does seem quite big. Anyway i have been told that the contracts are not going to be issued until Aug 2007 now. So it looks like there's still gonna be a wait until the prices go up. Chin up guys.

Toria 1

If you have a look at the link I have posted further up the page (10-05-07 19:36) This website has some good information and is updated on a regulah basis by investors. Between this and the OP site you will get the most up to date information.

Where were you told it was August for the contracts, I heard it would be June, but if it was delayed I would not be suprised. Lets just hope it all gets underway soon.

Hi Toria,
I think everything will be ok I am glad they have not asked for our money yet as on other resorts this means they are a cash rich to build the resort.

The fact that the developer is one of the biggest companies in Morocco listed on the stock exchange is a good sign.

Manor Park what is the OP forum mentioned on you post? resorts

quote:

Originally posted by Toria1:
Hi guys,
I'm in too. I can't wait for the development to start ( if it ever does !). I have seen on overseas property forum that alot of people are pulling out, which does worry me a bit. Also i have noticed that other people seem to be much more up to date with whats going on than i. I hope dreamworld would be just as informative to all its clients. Also i don't think that the rd close by will affect every1 thats bought there, only the ones that have bought nearer to it, as the development does seem quite big. Anyway i have been told that the contracts are not going to be issued until Aug 2007 now. So it looks like there's still gonna be a wait until the prices go up. Chin up guys.

Charley

My original reply has been removed by CH4, so I assume I have broken a rule about advertising other sites. Toria1 mentions in the post the overseas property forum, and as they already knew about it, I just referred to it as OP.

If you cant find it, try the other site I mention and send me a PM, I have the same user name.

CH4 I hope this post is acceptable.

I spoke with my agent yesterday and was told contracts would be out in June, so who knows, nothing to lose though, worth the wait.

Stephen.

So here we are into June, still all seems very quiet? has anyone had any contact with dreamworld or have any further information.

Has anyone been out to the site recently and seen any changes?

Does anyone know the name of the developer (not agents) so I can check them out?

An address / website would be useful.

Thanks