It is with regret that I have to inform you of the news about the Condado del Alhama Resort received 15th February 2006.
We have been told by Polaris this morning that the final permissions have not been granted for them to start building on the resort. It is our understanding that they had the initial permissions which we have seen from the town hall. It is usual that once this step is granted the rest is just a formality. It is unheard of in Murcia that once they have granted the initial permissions, that the town hall go back on this.
As this is such a big issue, Polaris will be back in a court hearing later this week to challenge these verdicts, we await more news then as Polaris are hoping to challenge the decision and get it over turned.
We have received a statement from Polaris below:
We would like to communicate that yesterday, unjustly and illegally, Alhama town hall decided not to approve the development plan of our project Condado de Alhama, despite this plan had all the necessary favourable reports to be approved. There is no legal reason for the project not to go ahead. You can be sure that our company has made all decisions and will do in the future within the established legal framework in all cases and this provides us the security of acting according to the law.
In any case, and without detriment to the legal actions that we are taking against this decision, we think that the most adequate action, as a precautionary measure, is to withdraw from the market Condado de Alhama. In the next few days we will know for sure if the project can go ahead in the current terms and with the current arrangement or if we give up this project’s development. In any case, we always intend to fulfil our commitments with you and our clients.
For the clients who made a reservation at this project, we are going to offer very similar alternative dwellings in other locations. Of course, we count on you and on our quality, services and the support of the leader. We are working on the product and documents to provide you with it as soon as possible, and of course, with the same contract and financial conditions, bank guarantees, etc. Once the alternative option is presented, if the clients are not satisfied with it, they will be able to terminate their contract and we will refund the amounts paid.
As you know, Polaris World has at this moment 5 Resorts under construction or already finished and 6000 clients, apart from Condado de Alhama. For sure we go on with our plans regarding current resorts as well as with our strategy for new projects in the future. You know the advance and response capacity of this company and we are confident of working together in this joint business.
Polaris Sales Management
As you will see from the statement Polaris are offering an alternative to this resort. You will receive a call from Polaris customer services this week to see if you would like transfer to a different resort, hold out to see if the decision at Alhama gets over turned or receive a full refund.
For our existing clients we have negotiated the following options…
Full refund of all monies paid so far, or for those buying in the following 2 sections…
Jardines del Alhama:
Those of you that have bought a property here will be offered to transfer to La Torre 2. This is a project that has not yet been released but due to this happening has been released early. The properties on this resort will be similar and would be a straight swap (no added cost). The differences are that the properties are all slightly larger but most importantly, they will all be FRONT LINE to the golf course. This resort would be in the same area as all of the other Polaris World resorts and therefore in a very good location. It is also only 10-15minutes from the beach. As you are aware prices for Jardines de Alhama were the cheapest around and will be sure to rise in value. When the properties are released for the general market, there will be a price increase, so they will be an excellent investment property and will also benefit from the other existing resorts nearby (La Torre, El Valle, La Loma, Hacienda Riquelme and Mar Menor golf resorts).
Los Altos del Alhama:
Those of you who have bought here will be offered a transfer to Mar Menor Golf Resort II. The Mar Menor Resort has already been completed and benefits from a 9 hole golf course up and running and an intercontinental hotel due to be opened in the summer. The Mar Menor II extension will make the course into 18 holes and offers front line apartments on this resort which previously consisted of just villas. The big difference with this resort is that it is only 3 kms from the sea and there will be a wide boulevard from the resort down to the beach and town of Los Alcazares. Currently the apartments released here are 10 – 20% more expensive than Los Altos de Alhama. However you will be offered an apartment as close to size and location to the one reserved on Condado de Alhama, but for the same price you are paying now. The apartments themselves will look the same as Condado de Alhama and they are designed by the same architect. Considering the same features and a resort near to the beach with half the resort already complete this would make these apartments a very good investment.
We have spoken with our solicitor and he too is very surprised by this news. He saw all the relevant initial permissions from the town hall to believe that this project would go ahead.
We have every confidence in Polaris World as a builder and currently own properties on two of the resorts. We will continue to work very closely with them and hope this situation gets sorted out as quickly and smoothly as possible
At Direct2spain we pledge to help you through the entire sale process and want to offer you as much support as possible in these exceptional circumstances