It also happens in Morocco.

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This topic contains 7 replies, has 4 voices, and was last updated by Profile photo of angie angie 3 years, 7 months ago.

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  • #55512
    Profile photo of logan
    logan
    Participant
  • #91413
    Profile photo of angie
    angie
    Spectator

    Doesn’t surprise me, it’s so near to Spain and has probably imported some of the bad practices, I wonder if these footballers have really pumped lots of money in or are they just names to promote it just to dupe other naive investors in 🙄

    My main worry about Morocco as a place to invest in is the very real risk one-day of extremists crossing unprotected borders and causing mayhem in one or two expat enclaves, end of the Moroccan dream for many then 🙄

    All the North African borders are pretty much open as we saw when Gaddafi’s son and his close associates nipped over some of the borders with payment of gold etc. Morocco would be a piece of cake, it can’t be policed all the time 🙄

  • #91408
    Profile photo of katy
    katy
    Spectator

    @angie wrote:

    Doesn’t surprise me, it’s so near to Spain and has probably imported some of the bad practices, I wonder if these footballers have really pumped lots of money in or are they just names to promote it just to dupe other naive investors in 🙄

    :

    Agree! Those footballers were unlikely to buy into that were they. 🙄 Now it’s all collapsed they can hardly admit they were lying through their teeth and were paid for the add or perhaps promised a free apartment…they looked cheap enough!

    Note the adress on the website if it’s the same company. They are in Benahavis Costa del Sol….Spanish practices indeed 😉

    http://www.property-logic.com/site/home.html?IS4SSN=20509125&IS4BOOT=1365963952080

  • #91405
    Profile photo of angie
    angie
    Spectator

    Good spot katy, but gets more interesting, more of a Spanish feel than 1st thought, a bloke named Sean Cusack pops up on that link which then goes to another site Property Showrooms based in Fuengirola and pushing properties all around the Globe it seems. Google search Sean Cusack. 🙄

    It has the hallmarks of luring investors in based on celebrity names and then blaming the ‘recession in Morocco’ in this instance, a model that’s used and happened many times before with overseas property marketing 🙄

  • #91403
    Profile photo of katy
    katy
    Spectator

    Another partner is Estonian. Some flimsy explanation here as to where the money went 🙄

    http://www.kcgrupp.com/news-press;146/property-logic-intends-to-complete-the-morocco-resort

  • #91364
    Profile photo of Anonymous
    Anonymous
    Participant

    You guys have got it all wrong. These Moroccan practises are imported into Spain. Also the Moroccan tax man will not issue you clearance to export your capital or the gain as he will not accept your sale price & demand that you have under declared. Now where have we read this ????

    The site was originally bought/given to Fadesa now Martin SA in exchange or part paid for by Fadesa for building social housing in Morocco. As part of Fadesa’s business model they after creating some kind of infrastructure, sold small/er plots after dividing the large parcel of land.

    I am pretty certain that this plot of land falls into the above mentioned division. To the best of my knowledge Fadesa did not do individual villas they only built block of flats.

    If I can count how many places these footballers have bought. It seems to me that they could not spend more than one week per property & still wont run out of spending nights in the properties that they have suppose to have bought.

  • #91340
    Profile photo of angie
    angie
    Spectator

    A bit confusing shakeel, are you saying that the Spanish problems or mis-selling in Spain was exported by Morocco, and not from Spain to Morocco? 🙄 I’m just referring to the complications caused by mis-selling, illegal builds etc not capital or clearance issues 🙄

    At the end of the day, Morocco, for extremist threat one day is not a safe option IMO 😉

  • #91333
    Profile photo of Anonymous
    Anonymous
    Participant

    @angie: What I am saying is that the Spanish problems of not only mis-selling but all & sundry attached had always been there & it has not been exported from Spain to Morocco.

    As many Spaniards will tell you that they do consider North & South of Spain as two different Spain. The problems of South of Spain i.e. businesses practises are not found in the north of Spain & in addition in the North of Spain people are prudent, hard working etc.,

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