Morocco Property Forum - Property investment in Morocco - View Single Post - Alcudia smir

camel · 22-09-07, 12:03 PM

Fadesa started in Galicia as a family business building low quality housing for the fisherman of the region ( Please be advised that Fadesa was sold of last year to a smaller company called Martin SA, from Madrid)

The poor fisherman were only greatful that some has built & provided a them with a property that they could afford. In the 80s, Fadesa bought a piece of land in Marbella from the than Kuwait investment office and got into overseas and so called luxury end of the real estate market.

This made Fadesa management were very arrogant ( I am saying were as the new management has to be tried out) and still felt that they could treat their overseas clients with the same disdain, even though they were paying top $, as they did to thier compatriat fishermen. Fadesa also did some social housing in Morocco for the local market before they got into Saidia.

Their finishing is poor, materials used are of lowest of the low quality and they grossly over built, pools are small. I have no reason to beleive that they will change this formula and in Morocco, they have no obligation to uphold EU standards ( not that they even cared about it ) There is a private forum on Alcudia smer, just google it and read it to your heats content.

22-09-07, 12:03 PM	#2 (permalink)
camel Active Member Join Date: Sep 2007 Posts: 94	Re: Alcudia smir - pros and cons Fadesa started in Galicia as a family business building low quality housing for the fisherman of the region ( Please be advised that Fadesa was sold of last year to a smaller company called Martin SA, from Madrid) The poor fisherman were only greatful that some has built & provided a them with a property that they could afford. In the 80s, Fadesa bought a piece of land in Marbella from the than Kuwait investment office and got into overseas and so called luxury end of the real estate market. This made Fadesa management were very arrogant ( I am saying were as the new management has to be tried out) and still felt that they could treat their overseas clients with the same disdain, even though they were paying top $, as they did to thier compatriat fishermen. Fadesa also did some social housing in Morocco for the local market before they got into Saidia. Their finishing is poor, materials used are of lowest of the low quality and they grossly over built, pools are small. I have no reason to beleive that they will change this formula and in Morocco, they have no obligation to uphold EU standards ( not that they even cared about it ) There is a private forum on Alcudia smer, just google it and read it to your heats content.