HI
Is any one an investor in this development? Any views on it

I have heard there is some contraversy about this development, but can not seem to find anything concrete about it, except that it has taken longer than expected, go figure it is a development project.....

The location looks amazing

I am not an investor on this development although i did loook at it last summer when i was advised that most of Phase 1 was sold.
Initially I liked that it was relatively small compared to the mega resorts being planned in morocco. Please bear in mind that at that time there was a lot of resort burning tactics going on betweeen agents so I can only tell you what I heard...
One agent told me that there had been considerable problems on this site as the developer had not built on this type of land before - I think the topography is sloping and the foundations would have to be driven into solid rock? There was also an issue with Planning Permission being given...(but as that seems pretty standard for these moroccan developments we'll let that one go for now!)
After hearing this I then spoke to an agent that was marketing the site who confirmed that there had been problems but that this was all resolved (this was last July).
I later heard from another agent that the developer had underestimated the build cost to such an extent that there was likely to be a considerable hike in the cost of apartments on Phase 2 to help him cover his costs. Now whether this is true or not I'd check out cost per m2 on this development vs others & I'd check out feedback with current Phase 1 investors. I think they have this on Eyesonthe World (can't remember the exact web address!!) Anyway good luck!

When I made my first investment in Morocco in Jan 06 I looked at Playa Vista, prices then for a 2 bed aprox 65sqm apartment were £40k, each apartment would have fantastic views but i was put off by the remoteness of the site, prices are currently aprox £65k for similar unit, i believe work has started but not sure on timescales, someone has mentioned 4 years total build time..., the forum http://www.playavistaonline.co.uk/ has many people who have bought there..

40K for a POS is bad, 65K for same POS is just bloody awful.