Unfortunately the situation has got worse as negotiations with the developer have broken down and MW and Sirocco have hired a lawyer in Rabat as the lawyer in Tangier where in cahoots with the developer.......apparently.
My main concern now is the money we have paid Sirocco/ Urbamed if they are not succesful in securing the apartments. Iam awaiting a response from MW to this question.
I have more questions than answers.
If anyone comes accross this blog who is more computer literate than myself that can assist in setting up a private forum for fellow investors to include the apartment number, please let me know.
I think this could benefit us, as we seem to be fragmented as a group and we do need collaborate to resolve this serious situation. Or if there is already one out there please let me know.
Thanks
Steve
Friday, April 3, 2009
Tuesday, March 10, 2009
Some positive news.....
A fellow investor received an e mail from Mark, he is going to Tangier on Monday 9th March to put pen to paper on agreement with developer that both parties are happy with, he is hoping completion's will start next week.
Lets hope we hear something by end of this week and thanks TG for the update.
A fellow investor received an e mail from Mark, he is going to Tangier on Monday 9th March to put pen to paper on agreement with developer that both parties are happy with, he is hoping completion's will start next week.
Lets hope we hear something by end of this week and thanks TG for the update.
Friday, January 9, 2009
Update
Hi everyone just recieved the following email from Mark:
Hi Steve I understand and share peoples concern with regard to Tangier City. Ourbiggest problem is actually trying to get anything done in Morocco as lifemoves at a snails pace compared to Europe. I am still waiting for more information before I can send out an update e-mail. As soon as I have it Iwill update everybody. Regards Mark
Hi Steve I understand and share peoples concern with regard to Tangier City. Ourbiggest problem is actually trying to get anything done in Morocco as lifemoves at a snails pace compared to Europe. I am still waiting for more information before I can send out an update e-mail. As soon as I have it Iwill update everybody. Regards Mark
Thursday, January 8, 2009
Tangier City Apartments
Hello fellow investors,
I have created this blog to enable us to discuss the never ending problems with regards this development.
As far as Iam aware there are issues with the developer ranging from Sirocco not happy with the finish to the developer wanting to declare a lesser purchase price on the title deeds to avoid a higher tax payment.
Urbamed SARL is the Moroccan company we have transfered our deposits to and is part of Siroco estates, possibly a holding company.
My wife and work colleagues are in Tangier at present and the block is locked down and no access is allowed. They are in the process of trying to talk with the developer to get their side of the story.
I have also emailed Siroco requesting full details of the situation and will post the response as soon as.
On a positive note the apartments and court yard are looking great, it is highly unlikely that Siroco are pulling a fast one but we just need total clarity.
Please feel free to post.
Thanks
Steve
I have created this blog to enable us to discuss the never ending problems with regards this development.
As far as Iam aware there are issues with the developer ranging from Sirocco not happy with the finish to the developer wanting to declare a lesser purchase price on the title deeds to avoid a higher tax payment.
Urbamed SARL is the Moroccan company we have transfered our deposits to and is part of Siroco estates, possibly a holding company.
My wife and work colleagues are in Tangier at present and the block is locked down and no access is allowed. They are in the process of trying to talk with the developer to get their side of the story.
I have also emailed Siroco requesting full details of the situation and will post the response as soon as.
On a positive note the apartments and court yard are looking great, it is highly unlikely that Siroco are pulling a fast one but we just need total clarity.
Please feel free to post.
Thanks
Steve
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