Property developer CHC (Murcia Region) in BankRupt

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    Property developer and civil building developer of the Murcia Region CHC (Conducciones Hidráulicas y Carreteras) is in BankRupt.

    Today I have seen it on TV and a lot of suppliers waiting in the door for their money.

    I have been looking information in the WEB about this company of my Region and I have seen that they have a resort in Granada in dead Situation.

    Is the ‘Mirador de Alhendín’ Resort. A serie of villas about 300.000 euros. They had sold about 40% of the resort but finally they couldn’t find the sufficient bank finance for the project:

    http://www.ideal.es/granada/prensa/20070730/local_granada/paran-obras-urbanizacion-lujo_20070730.html

    So this 40% means some more british burnned in the spanish sun.

    I repeat the same thing again:

    Be very careful. Today buying off plan properties is very dangeraous. The property developers have very scarce sells so they struggle with banks to get finance. If not, they leave a property development in a dead point. (Some structures buildt and some british scammed).

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