I had a long telephone discussion with Sean Cusak.
In short, Property Logic slowed down works in 2008 because:
- they were expecting their british clients to face some payment problems (fall of British pound) if PL was to deliver quickly
- they faced problems with banks, unable to release money on previously agreed borrowings (due to credit crunch)
- the infrastrucures of Saidia are also late and PL didn't want to deliver a resort with little facilities around
RT2 is among the most advanced LJDF properties and should be delivered in March/April 2010. Works are supposed to have resumed but at a slow pace. Can anybody confirm that?
Best Western is already on site, recruiting, training and putting things in place for proper management.
LJDF owners should be contacted to have an individual update on the status of works.