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These 46 projects will augment the tourist offer in Casablanca. This can only be a positive move in the medium to long-term and it will be interesting to see how levels of tourism improve. I would also be interested to learn how real estate prices in Morocco have performed recently and more specifically Casablanca. Is this an area international real estate investors should consider? If you take a step back and look at the reasons for investing in international real estate, local investment in the tourism industry is a major element.
The more people who visit the region the more chance they will acquire real estate and this will help the region attract more attention. Looking to understand if other adversely impacted parties are willing to connect and share thoughts on appropriate next steps etc.
Thanks RobT I received an e-mail last week to update me on developments. Informing me that the site was being completley redesigned. This is the first I had heard of this no mention of refunds, where I stand with current contracts etc. Spoken to lawyers who told me the following: R2I had to go through a massive reorganisation when the situation with Mr Deutsh went wrong they have now reorganized themselves. What they are going to offer you is a new contract with new Director, new delivery date, new masterplan, new house size, etc.
We are representing your interests and the interests of the other clients who have appointed us and we have helped R2I to draft the new contract that is going to be proposed to you.
This contract offers more guarantees in terms of penalty for late delivery, etc. As whether you should accept it or not, we cannot give legal advice on commercial matters if the developer for reasons that may or may not be justified decides to extend the surface area of the project and consequently build larger houses, there is very little we can say as to whether you should or not go for it. We can however advise you to have a new contract if you decide to go ahead with the new proposal (due mostly to the change of the object, the new delivery date, etc…) your previous contract will not be accurate any longer as the entire masterplan is going to change and so your property. If you decide not to go for this new project and cancel your contract, the Developer is entitle to refund your monies, only on completion stage which should be according to the new contract around December 2012 if you decide to cancel, you should ask for solid guarantees from R2I, in order to be certain to get your money back in 3 years time.
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Feeling like a bit of a mug at the moment as they have had my money for three years now. We were sold this development (now in its fourth incarnation for me) as a great property, in a great position, fully furnished, in a emergency loans with no job and bad credit fantastic rental programme and a very good developer. Now R2I tell me that the the developer actually was not so good, the location is too far out for the size of units we have purchased (but for more money they are willing to rectify this! When I put these questions to R2I, via email because I have had a bad experience of them using a non-existant conversion against me, I have unsurprisingly not had a reply. To now find that we cannot get a refund until the development is completed is not great either.
Basically they are forcing people to complete on a project which we have no information on, after holding our cash for over three years. On a positive side, R2I have pushed through their development in Argentina, so where they have control we might actually see some progress. I will wait and see the final plans and contracts and then assess options, if any. Well you have more information than me I was good loans for bad credit unaware that the rental income was likely to disappear. I can feel that I might want to take legal action regarding the whole situation but I will wait to see what comes of the good loans for bad credit new contracts first. Am chasing them up again this week as still waiting from promised information two weeks ago. Good luck, it will be interesting to hear what they come up with. Regarding rental income and furniture, the person I spoke to had no idea what was happening. Not great, as this was a huge factor me in buying, but I would be very happy to be proved wrong and R2I sort something equivalent out. Only pressure it would appear we, as disgruntled investors, may be able to bring to bear is to place a charge on the Fez land via a local legal firm. Sounds complicated and not a freebe - but maybe R2I should fund on our behalf! R2I are apparently also trying to raise the funds independently - but in the current market environment I can see that being a big ask of a small company.
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The worst result of all is to have a development in limbo and nobody is able to proceed. This should next day loans in nj all have been made water tight by R2I??? We would be interested to hear if anyone has received any further information since last November regarding this development. And asking for more money to continue with this process of putting a charge on the land. Not sure of the benefits of this good loans for bad credit and will be contacting sorry attempting to contact R2I to try to get someone to answer my questions. R2I have told me that the Marrakech devopment will be split in two. In addition to good loans for bad credit good loans for bad credit the original land they have a plot closer in to town (where did that come from and where did they get the money? Of course the rental programme has gone, together with the fully furnished apartment. And they tell me there is nothing that can be done other than wait as they do not have the free cash to repay investors.
This is not strictly true, legal action is still an option. Do we know how many investors like ourselves there are? We feel that R2i should have a meeting to explain the proposed plan short term personal loans to us all as a group. We were not aware the rental guarantee and furniture have been removed from the deal (this has certainly not been communicated to us) only the change in the site plans. At least we know this site does have planning permission. There were aiming to send an update good loans for bad credit before the end of Feb, but they also said that in December and January. The aim to do both simultaneously I think, but as the original site is where they will be making the money through high end villa sales I can guess where most of their efforts will be concentrated. What makes me even more annoyed is the tone best way to get a loan with bad credit of their communications which implies they are doing me a favour and I ought to be grateful to them...
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No suprise as communication and transparency not in their company how to obtain small loans policy it would seem. As for having no money, the story I am told is that our funds are tied up in the current land, and that more funds are required to complete from new investors. This sounds plausible, but I guess it will be impossible for anyone to check if the company has any cash or not. When new investors start putting their money in, I will hazard a guess that this will not be used to pay us out, but instead used first to fund the development, any free cash later on could then be used to repay initial investors x years down the line. Great for them, we take the risk, they take the return. I was told that I could try and flip personal loan criteria whatever property they deigned to assign to me to get a return, what world are they living in! My patience has now run out and am anxious to get my money refunded before R2i go out of business. Are any of you considering taking where can you cash personal checks legal action via Legalex?
Has anyone contacted any other solicitor to seek advice? They have been selling property without correct documentations and flouting legal regulations, consequently they are now refusing to return deposits. They have been selling property without correct documentations and flouting legal regulations, consequently they are now refusing to return deposits. They have a personal development project called VISION in Morroco and they have been taking money and investing it directly in this development project, without the correct legal documentations. Several people have paids thousands of pounds without recieving a contract for an appartments in this vision project.