I received an email yesterday from my solicitors saying to hold off on the 2nd payment just for a while. The reason they gave was "as the final building licence, although granted, has not been issued".

Does anyone have any additional information from laywers/agents about the status?

Not that I'm keen to fork out a huge amount of money, but with the pound being so strong, I've calculated that there's already been a saving of about £1k in the last month or so. So obviously don't want to leave it too long (at least there's been one benefit of the increase in interest rates!!)

Is the second payment due in dirhams or euros? We haven't heard anything about paying the next installment yet. However as the £ is so high, have you thought about forward buying?

It's only RT7 invoices that have been issued and this is due in dirhams. Apparently verbal planning permission only has been given - they are awaiting the written confirmation. My solicitor also advised to wait until this is received together with start of construction.

PL are expecting to send letter about 2nd 20% for VVT8 in next week or two. Payment will be in Dirhams.

I'm holding fire on getting foreign currency. By time letter reaches us and solicitors are happy permissions are in order we could have another quarter point increase in repo (base) rate.

I, too, was told to hold off from making the second payment. I was told this week that the solicitors have still not had sight of the licence.

Has anyone heard anything more?

Hi,

Has anyone recieved a demand for the second payment for the Villas? Or when it is likely to be sent out?

Does anyone have anymore information on weather the licence has been recieved and it is OK to make the second payment when it is due?

Peter

Hi, ive not followed the Saidia development much but have been offered 2 bed 2 bath apartment at the price it was when initially released, ive asked of the location of the apartment but can anyone advise how much i'd be looking at today if purchasing a 2 bed 2 bath apt? Thanks

Which development are your referring to? RT2 or RT7?

Hi, sorry i dont have too much info as yet, however the apartments are in a section called "AP4", does that help?

rorypops wrote:

Which development are your referring to? RT2 or RT7?

I have received an email from solicitors - Legalex - stating that they are still awaiting the written planning documentation. They have requested however that the 2nd 20% be paid into their (Legalex) escrow account in anticiation of having sight of the planning documents.

Has anyone else heard similar instructions?

yeh - I got mine last week. Seems a fair way to proceed

I now have the dirhams sitting in a currency broker account. Legalex also asked me for the payment to sit in their account but I told them apart from seeing the planning permission, there is also meant to be a final furniture package attached by now so I didn't want to release the payment yet. I haven't heard anything from anyone since!!

I chased up my solicitor the other day and was told that they still had not received sight of the planning permission or had confirmation about start of construction, though I don't think they can actually start construction until the planning permission is through. They are only merely laying the foundations at the moment. Perhaps anyone who has been out on a visit recently can give us an update? Obviously delay in start of construction is going to mean a delay in completion and I don't want my money tied up for longer than necessary so I will await confirmation before seeking out a good exchange rate - they will allow a couple of weeks for the transfer to be processed.

Below is a quote recieved from Property Logic:

"We are expecting to receive the building licence by 16th March. The invoices
will be issued as soon as this happens."

That gives us time to prepare. Thanks for the information as I have heard nothing as yet. Does it say payment in euros or dirhams? Thanks.