Hi All,
I bought two apartments in Tanginer City Apartments development back in May 2007 from Siroco Estates and put down a deposit of £32000 pounds. So far I have had a bad experience with them.
We were told these would be ready end of Aug'07. August came and went and no word, so i contacted them and I was told they would now be ready end of Oct'07. This came and went, and then i was told they would be ready Jan'08. It's nearly middle of Jan'08 and still no word on completion
I would be very interested in hearing from other investors on their experience and would like to form a action group to either get our deposits back or get some answers on when these will be completed. I am planning on visiting the development site end of Jan’08 and have asked to meet with both the Siroco estate and the developer (Urbamed S.A.R.L.) representative. I will update this thread if i get them to agree (i doubt very much).
From my own experience I would say to anyone thinking of buying off plan abroad is “
think again” ! You have no guarantee when the development will be completed and the contract will not stipulate it. Once your money is in the hands of the foreign companies you have no control and the agents/solicitors/developers will wash their hands of you.
Anyone wanting to contact me can do so by emailing me via this forum.
Agents: Siroco Estates
Solicitors: Law & Taxes, S.L.
Developers: Urbamed S.A.R.L.