Gardens of Fedala - Marrakech

[nettle]

Hello Veejay

I am absolutely snowed under at work at the moment and have not had chance to do anything further yet. However I am fed up to the back teeth with this whole situation. I do want to take legal action but worry at what the costs might end up being. Am away over the Easter holidays for a much needed break. When I return and am thinking straight I will attempt put my mind to the next step. I would like to get the money returned without having to go through solicitors if possible but!? After all the contracts we signed are for now for properties which are not going to be built to the design specified or the site specified.

 

[veejay]

Marrakech 123, Nettle, All at Sea - any more thoughts on taking action? It's all gone quiet again on the r2i front - but no surprises there. I wonder how many more people there are out there in our situation. Think Marrakech 123's suggestion of joining forces is a good one but how do we get ourselves organised?

 

[All at sea]

I am also snowed under at the moment, but agree it would be worthwhile to join forces, and don't want to end up with a large solicitors bill. Will be in touch when I have some more time to think about it some more.

 

[All at sea]

Veejay, not sure why but I cannot seem to pm you? Maybe you need to make a few more posts to be able to do this?

 

[veejay]

Yes, it's really annoying

 

[veejay]

Not sure how many I need to do

 

[veejay]

But this will account for a few

 

[veejay]

Want to PM you as well.

 

[veejay]

And the others on this thread.

 

[veejay]

Have quite a lot to discuss.

 

[veejay]

Would much rather do it via a PM.

 

[veejay]

Just noticed I'm an active member now so maybe you can PM me.

 

[Marrakech2]

Investors in Gardens of Fedala/Salama Valley please read this.

Any investors who originally bought into Salama Valley may have received information about a new development near Marrakech which is built and ready for occupation.

If you're looking for this as a way out of the Salama Valley project then think again....

1. It seems it's not as straightforward as a transfer out of Salama Valley into the new development.

2. The money invested in Salama Valley cannot be simply transferred into a unit in the new development.

3. Anyone who transfers from Salama Valley into the new development is relinquishing any rights and money paid into Salama Valley.

What this means is anyone who has invested in Salama Valley is effectively paying twice.

e.g. 100k Euros paid into Salama Valley
100k Euros paid into the new development
-------
200k Euros in total


In the current climate its hard to see how this would make any financial sense and would see an immediate financial loss even with the expected discounts for the new project.

It would be good to hear of other views on this.

 

[nettle]

Please PM me.

 

[LOUKIC]

Is this new project being offered by the same developer? If no compensations or substantial price reductions is offered, it does not make any financial sense to invest in this new project.

 

[Marrakech2]

Salama Valley response.

No its a different developer but R2i are still managing this. If you're already an investor you should have received details about the plans.

 

[LOUKIC]

Hi. I am not an investor. I am a legal advisor based in London with legal connections in Marrakech. I have received in the past enquiries from investors who have purchased with R2i. I am astonished at the way R2i has sold their projects in Morocco. They were asking for payment for the whole amount up front for a project which as not even started, or might not exists.

 

[RobT]

The latest I've heard is that the French exchange listed parent company of the local developer is interested in progressing talks with r2i with regard to progressing development work on a couple of sites in morocco. Has anyone heard anything similar or to the contary?

 

[DAB]

Hello all,

I am interested in joining forces with you all, I also am very fed up with the way the SV2 project is going.
I can't PM anyone as I'm not an active member but maybe you can PM me (I would rather discuss things away from prying eyes). I also have contact with a couple of other people so that could be more to join forces.

DAB

 

[RobT]

Pretty much radio silence from R2I in terms of any progress on any development or cash refund for those, like me, looking to walk away from a mess in Marrakesh. I'd originally invested in the failed GoF scheme having paid the 1st tranche of cash (poor decision on my part). I do, however, understand from R2I that there are a small handfull of other investors in the same position as me and I'd be keen to link-up to share knowledge and thoughts on best way forward.
If interested then please get in touch. Cheers RobT