The Superior Real Estate Group

As no doubt one of many independent companies with clients on the Oasis Beach & Golf Resort at Mediterrania Saidia in Morocco, PropertyShowrooms.com and its investment arm IPIN have been seeking clarification on the position of its clients now that the ‘Superior Real Estate Group’ have entered into administration. Superior operated as the Sales Agent on behalf of the developer of the resort, Oasis at Saidia SARL.

We are pleased to announce the following statement made by Oasis at Morocco SARL, which clarifies the current situation of IPIN members invested in the resort, and those who invested via other avenues.

Official Statement by ‘Oasis at Saidia SARL’, Thursday 31^st January 2008

"It has been brought to our attention that The Superior Real Estate Group Ltd have entered into administration in the UK to protect its creditors. This is indeed very sad news as we have always found the company to be extremely professional in their dealings with us.

We feel it necessary to write to you to confirm the exact position in respect of your purchase of real estate at Oasis Beach and Golf Resort, Saidia, Morocco.

Firstly we can confirm that your contract is with Oasis at Saidia SARL and not The Superior Real Estate Group Ltd who simply acted as one of the many sales agents appointed by Oasis.

We can also confirm that all your payments have been accounted for in Morocco and have been duly registered with the exchange control authorities. You have absolutely no cause for concern regarding your dealings with Superior Real Estate Group Ltd, your money is with us the developer or with lawyers so is completely safeguarded.

Many of you may be wondering what the current position is with Oasis, so we have taken the opportunity to explain the current situation to you and what we are planning for the future.

Firstly, we are proud to announce that all ground works are now completed in phase RT5 and the structures for the apartments will start this month. We are still awaiting licenses for phases VVT2 and VVT3 but expect these to be released over the course of the next twelve weeks. (Please appreciate we are dealing with the Moroccan authorities and this can be a time consuming and frustrating process!) Once we are in receipt of the licenses we can commence the construction in these phases immediately. This we anticipate will be May/June. The positive news is that virtually all the construction surrounding Oasis will be completed and the golf course opens by the time our project is completed so there will be no issues with building works. This is great news to those of you who wish to rent your property out for rental income as there will be no impact on rental rates.

We have a very professional, talented and dedicated team of project managers, engineers and architects based in Marbella and on site at Saidia. Our promise to you as an owner is to ensure that construction is maintained to the highest level. Our intention is to have the best project within Mediterrania Saidia. Some of you will know that we have already won Arabian awards for the architecture!

Furthermore, we also appreciate that dealing with people that are based overseas is sometimes frustrating and it is for this very reason that we have now set up a full and integrated customer care centre which is based in Bristol. They are there to help you with any questions you may have both during and after construction. They will liaise with Morocco and Spain and answer your queries in a prompt and professional manner.

The Oasis website is currently being refreshed and it will contain many new features including weekly photos showing the building works taking place. This will allow you as an owner to follow progress in real time. This should be fully operational in March.

For those of you that have not visited Mediterrania Saidia recently there has been incredible progress. The whole development is looking absolutely fantastic with the first hotel completed and opening for business in the summer. The first golf course is virtually ready to play and the marina already has some boats moored. The shopping centre known as the medina is also well advanced. 

Finally, on behalf of Oasis at Saidia SARL, we would like to thank you for your patience and wish everyone health, wealth and happiness for 2008."

IPIN has a policy of contacting all relevant clients as soon as possible to clarify the ongoing situation, although if anyone has any further queries regarding their purchase made at Oasis Beach & Golf Resort with IPIN in the meantime, please do not hesitate to contact your IPIN Advisor or the Investor Care Team.

Like this? Then share with your friends and colleagues!