Saidia Marina Owners

[pbritton]

Is there any Marina owners out there who have completed on their berths. I reseved a berth long ago and have since heard nothing from Fadesa. Reading the posts I see that they havhe had finacial difficulty and am looking for others who have reserved to see if there is more information out there.

 

[Steve C]

I also reserved a birth a long time back. Still heard nothing since giving my initial deposit. The later the better as far as I'm concerned!

 

[Investy]

I got close to reserving but the complete lack of interest by Fadesa in supply contract and financial info put me off. No one even had any idea what happened at the end of the first 20 year lease. As far as I'm concerned no one deserves getting money unless they are prepared to provide full and final contractual and financial information.

 

[Lee Filkins]

Investy, couldn't agree more with you. The sad thing thing is that the majority do not ask for basic & fundamental information whether it is Fadesa or others. When things go wrong they blame all & sundry.

 

[Investy]

Camel

I think going forward us investors ought to expect much more from those wanting to sell us thier properties. Makes me wonder how much better some of us investors might be as devlopers as we seem to have a better grasp of what investors require want - most of all a water tight, detailed written plan.

Perhaps some of us ought to buy some land somewhere! A freind is doing this but the problem he is having is that the 8 joint directors are having trouble agreeing on things.

 

[bradley]

I also reserved a birth a long time back. Still heard nothing since giving my initial deposit. The later the better as far as I'm concerned!

Hi like you i also reserved a birth some time ago and did enquire when completeing on my appartment (Sept 07) as to a completition date. No one seemed to know.
I agree later the better

 

[pbritton]

agreed.. keep us posted if you hear anything

 

[Steve C]

I think that the plans to extend the marina by another 200+ births is going to delay things somewhat, which, we're agreed, is in our favour.

 

[just-alex]

Marina

I think that the plans to extend the marina by another 200+ births is going to delay things somewhat, which, we're agreed, is in our favour.

I have read recently that Marinas (like Port Grimaud) in French law are subject to strange regulations that give only the 'right to use', you don't own it and you don't lease it so don't really have any rights ...its more like long term (30 years)time share club!!!! As everyone knows, the value of time shares falls over time!! Anyone 'purchasing in Morocco should carefully check the legal pack to see what you are actually getting and for how long , as Moroccan Law is 95% based on the French system.............
P.S what is all this talk of babies (births) , the correct term is surely 'berths', unless u know something I don't!!!
P.P.S does anyone have any news of the supposed clinique ( hospital?) at Saidia, I should have thought this ought to be a priority>?

 

[Investy]

Alex

The medical centre building looks large and the main structure in place. The photo is on lejardindefleurs photo update section - Sadiai general photos

The short term lease on the berths was the reason I did not go through with one, especially as no one, and I mean no one could give me anything cncrete as to what would happen after the term expired.

 

[bradley]

Alex

The medical centre building looks large and the main structure in place. The photo is on lejardindefleurs photo update section - Sadiai general photos

The short term lease on the berths was the reason I did not go through with one, especially as no one, and I mean no one could give me anything cncrete as to what would happen after the term expired.

Hi

I am still very happy with my investment in the marina. Wait and see you will be sorry when i am recieving big bucks in rentals and doubled my small investment.

 

[bradley]

I have read recently that Marinas (like Port Grimaud) in French law are subject to strange regulations that give only the 'right to use', you don't own it and you don't lease it so don't really have any rights ...its more like long term (30 years)time share club!!!! As everyone knows, the value of time shares falls over time!! Anyone 'purchasing in Morocco should carefully check the legal pack to see what you are actually getting and for how long , as Moroccan Law is 95% based on the French system.............
P.S what is all this talk of babies (births) , the correct term is surely 'berths', unless u know something I don't!!!
P.P.S does anyone have any news of the supposed clinique ( hospital?) at Saidia, I should have thought this ought to be a priority>?

Thanks for the enlightening information. I have noticed that you Just alex and Investy always have negative posts why is this? and are you trying to put potential investors off buying in Saidia/

 

[Isadora]

What short term leases? I was offered a 60 year lease.

 

[The Soup Dragon]

Isadora.

When I contacted Fadesa about berths a year or two ago they were only offering a shorter term lease (think it may have been 20 or even 15 years.) There was so much that had to be firmed up at that time with berths - not least what happens at the end of the lease - that I stayed clear. My contact at Fadesa even conceeded that most investors were doing the same and that it was keen sailors that were buying the berths. (I'm not doubting you will have 60 years in your contract, just pointing out what was offered to me and why I, and others, walked away.)

It may well prove to be a good investment, but at that time nothing like full information was available.

 

[Jesus of nazareth]

Camel

I think going forward us investors ought to expect much more from those wanting to sell us thier properties. Makes me wonder how much better some of us investors might be as devlopers as we seem to have a better grasp of what investors require want - most of all a water tight, detailed written plan.

Perhaps some of us ought to buy some land somewhere! A freind is doing this but the problem he is having is that the 8 joint directors are having trouble agreeing on things.

Oh Jesus Christ investy

 

[Investy]

I have noticed that you Just alex and Investy always have negative posts why is this? and are you trying to put potential investors off buying in Saidia/

I was roundly condemned for being a saidia rampar and saleman on other forums such as housepricecrash.co.uk (overseas section 'Morocco my best ever investment')

Jesus Of Nazareth has me down as a pathalogical Saidai lover

I cant win!

Bradley, there is plenty to be positive about, but that does not mean we should line up and be shafted over a barrel, accepting everything and anything.

As a pure investment proposition the berths are no more than a punt, which may turn out to be very profitable, but as an investor I need sound confirmed information, not merely a hunch.

What will you pay when the lease has to renewed?
What price can you sell at - will the marina controllers want to set the price?
What will the maintenance fees be?
Can you sell it on the open market?
What is the impact upon the valuel where you sell a lease with say 10 years remaining?
How many years before the thousand berths all get rented?