Terrazas Update on PW Forum (not an April Fool)

For those who haven't seen it on the Polaris World Forum there was disturbing news that apparently both the Town Centre at Terrazas and Las Islas phases have been indefinitely postponed.

Furthermore the suggestion was that the Las Islas phases could be cancelled completely.

I emailed PW and received a phone call yesterday 31st March. Just as well it wasn't this morning or I might not have believed every word they told me!!

In a nut shell, Town Centre will not be built until there is an economic upturn - this will clearly be soon given that Obama,Brown et al are meeting today, always assuming President Sarcastic of La France doesn't give a Gallic shrug & storm out as threatened.

I digress, the gist of things is that a "real" Town Centre" is some way off however they are building a temporary clubhouse,supermarket and bar, apparently as we were speaking!

I asked about when other phases will be built and in what order. The amazing response was that when they start, they will work on all phases together and the Town Centre will be built at the same time. Las Islas will definitely not be cancelled. Completion for the entire resort will be 2101 - whoops I meant 2010 and this has apparently been confirmed by Santa, The Tooth Fairy and the soon to visit Easter Bunny. So that should be fine then.

The lady also said that all 18 holes will be open this year albeit late in the year.

I am going to Murcia on 11th April and will tour the perimeter of the resort to look at the golf course but frankly I will be surprised if more than 9 holes are being prepared at present. Photos to be provided of course.

I also raised my doubts about the Town Centre given that Hacienda Rick still await theirs. She told me that HR was a different case as there are complicated planning issues given that the Hacienda is an ancient historic building. Good news then that the planners apparently don't give a toss about our own crumbling ruin referred to I believe in the marketing material as "the historic Casón de Los Saurines manor house" apparently soon to become a swanky drinking den of the idle ex-pat.

So what can we take out of this information? Not a lot I would suggest.

I am talking to a few agents at La Torre at present and asked one as to the truth of the suggestion that Las Islas has disappeared from the current price list of available property. One guy denied this and sent me the price list which obviously only had phase 2 penthouses.

When I pointed this out he replied that it appears I am correct that Las Islas is off the market and then told me that his information is that PW will build what has been started at this stage and then sit it out and hope for the much talked of but yet unseen upturn in the market.

I believe that what he says is more likely to be closer to the truth than what I was told by the very nice lady from PW who I suspect was telling me exactly what she has been told by PW and maybe even believes it to be true.

So as usual confusion reigns and we are no further towards a complete resort at Terrazas.

My contact at La Torre also told me that a company of solicitors are taking a case to PW for pre trial discussion demanding return of deposits. They apparently need a Power of Attorney to act for you in this capacity.

No doubt you will have seen various threads on forums on the subject and it appears to me that those who have been given refunds would generally have some reason other than simply being fed up waiting so at this stage I am not inclined to join this action.

Finally what may be of interest to those of you with large suitcases bulging with Euros, the lovely lady at Polaris did tell me that PW are happy to transfer you to a key-ready property. What she didn't say but you can bet your bulging suitcase on is that they will transfer you to a property of equal or greater price.

Don't think you will get the sympathy vote from PW by droning on about the horrific effects of the slump in the value of sterling or the catastrophic downturn in the housing market or even the global economic crisis. These people have their own problems!

Have a Happy Easter and do check back for photos and any new info I get when I am out there.