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mozo

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About mozo

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  1. This ones for you Dogbox News released yesterday regarding Saidia is that the Marina is already having to be expanded as demand on subscription for berths has outstripped supply, originally set at 850 berths this is now being expanding to over 1000. reasons given are that the marina over the water in Marbella costs over 3x more and the cost of fuel to run the yachts is considerably cheaper in Morocco - Saidia resort does not seem to be as remote as many people believe it will be! Whilst official figures released by the Moroccan government for tourists visiting in 2007 was over 7.2 million, even though non of the Kings resorts are operational. The target of 10 million by 2010 may seem to be quite conservative after all. "keep the faith" Mozo
  2. Can I add this one to the mix, Villa Del Mar, Samana Bay,Dominican Republic. Launch this week 200 plots in total and build Phase1 plots 1 - 100 1st 33 plots = $52k 2nd 33 plots = $54.6k 3rd 34 plots = $57,330 Phase 2 plots 101 – 200 1st 25 plots $80k 2nd 25 plots $84k 3rd 25 plots $88.2k 4th 25 plots $92.3k Plots must be purchased in full. Then a 10% deposit paid to secure the villa. Therefore total outlay for the client will be plot price + 10% of the villa price. Mortgages are available for the remaining 90%. Interest rates currently 5.5% through First Caribbean (part of Barclays). Status mortgages. Therefore the cheapest plot ($52K) plus 10% of a villa ($143,750 villa price) deposit of ($52k+$14,375= $66,375 – approx £33,187.50) Build time quotes as 1 year approx. USPs 10% g rental for 2 years (payable 1 year in arrears) Gated community with 24 hour security 20 berth marina with restaurant, beach club and pool Fitness and Spa Medical centre and Supermarket 4 styles if villas 115 sq m = $143,750 122 sq m = $152,500 126 sq m = $157,500 150 sq m = $187,500 6 months to build your villa from plot purchase Once the villa is built a 10% guaranteed rental for 2 years and then afterwards a 50/50 split with the management company for the following years. 3% closing costs – paid by the developer Has anybody come across this one, can't seem to find anymore info other than that supplied by agent. any news good or bad is most welcomed. Mozo
  3. Picnic. not sure how to take this post, you seem to be pretty happy that Saidia is a place where you feel you will make a healthy profit, but at the same time you don't feel that Saidia is a place worth visiting, is this because you see Saidia as pure investment venture and don't think it will be a long term success, or are you familiar with Saidia Town and the surrounding areas. could you please clear this up for me. Mozo
  4. In principle I agree with your comments but the same scenario can be said of any country where there isn’t an established property market, the developers will always be looking to buy at the lowest price and hike the costs for the first phase investor in order to safeguard poor/slow sales. The ideal outcome is for both parties to gain on capital appreciation over the build phase to completion. I’m still very confident that Emaar, Fadesa and the like would not go lightly into a venture where they did not fully appreciate all the risks, be it from terrorism, civil war or housing market crashes. Morocco is a country ripe for picking by the developers as the proof can be seen in all big cities/towns where developments are currently underway. Mozo
  5. Hi Soup Dragon Thanks for that insight, can you explain how 'SIPPs' will effect La Plage as a investment/holiday home, if you feel this is now primarily aimed at the French market. Would this not also effect the French market in the same way as in the UK? Why do you think Essential have decided to sell their shares and go down this route? are they worried that La plage it's self may not be what their customers want or are they re-thinking the entire Port Lixus development? I persoanally still feel that Lixus will be a great success once completed but I feel that long delays are inevitable. I'm also visiting Lixus within the next three weeks to get a feel of how much things have progressed, I'll post any news upon my return, enjoy your trip. Mozo
  6. Hello All Seems like I've given this thread the kiss of death since my last post !! News coming out of this development seems to be grinding to a halt?! Has anyone any development news on which builds are in progess, and how the uptake on villas and Apart hotel is progressing. I'm interested in any views on this as I'm keen on investing in this resort. p.s any photos of this resort would be really great. Thanks . Mozo
  7. Hello All Glad to see Port Lixus thread still going strong, has anyone been given time scales on when construction starts/ends on La Plage? Also does anyone know when the Golf Apart Hotel is to be released on Port Lixus(phase one). This was supposed to be released early part of 2007, But haven't heard anything about this yet. I've heard these suites are going to be bigger in size than the La Plage units. Also, how does everyone feel about the 2 year 6% rental gaurantee? compared to other rental gaurantees in Tangiers and others alike they seem to have 5 years or more, is this a sign that the developers are very confident that they will fill their rooms or are they protecting themselves on a slow uptake on room quotas? any thoughts welcomed Mozo.
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