Skyline Exchange - Help please

Tyrone


Joined: 29/06/2009
Posts: 14

Message Posted:
06/08/2009 11:49

Is anyone in the same position as me. Medview are asking Skyline investors to take their money over to one of their other properties in Northern Cyprus. The selling prices seem high and I am not familier with the locations of the properties on their website.



I cant seem to find anyone that is in a similar position to me - trying to find the best way forward



Pleae contact if you can help

Harold2555



Joined: 19/04/2008
Posts: 1139

Message Posted:
06/08/2009 12:59

Have a read of this thread





http://www.cyprus44.com/forums/14900.asp



Harold

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
06/08/2009 16:58

Hi Tyrone,



Where are they offering you to exchange to? Sunrise Beach Club is on the opposite side of the road to where Skyline was being built. Seaview is behind Skyline, just a continuation of this huge site at Hilltop. Forest Golf & Beach and Beach View are together on the same site and are on the other side of the island, east of Kyrenia. This site is well planned and finished. If you need further information contact me off board.



The butlers wife

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
06/08/2009 23:50

There is a lot of posts on this subject here ion this board, go to search and type in Sklyline to highlight all postings.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
07/08/2009 13:51

Hi Tyrone,



Please contact me at stephenmeacher@aol.com





The butler

krisna


Joined: 27/08/2009
Posts: 2

Message Posted:
27/08/2009 18:46

Hello



I have pruchaed an apartment in Skyline back in 2005. I also have been asked to exchange my apartment, howerver after looking at the alternatives i dont feel any of the other projects provide the security of the Skyline project, none provide a guarented rental or offer the same investment potential. Is anyone else feel the same ?



The last corespondence reacived from Medview on the 31st July 09 state that they may sell the hotel at a loss while suggesting we may lose are total investment ? However do they have the legal right to sell the hotel if they hav already sold the lease to apramtents to investors like us ? I dont think think is moral and can any one advise if this is legal ?



regards



Krisna

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
27/08/2009 19:17

Hi Krisna,



Although I don't agree with what Medview have done, I would urge you to reinvest your money on one of their other developments. If they don't have the money to finish the Skyline Residence, they don't have the money and at least they are being honest about this. When this project started 4 years ago, the future looked rosy and the property market was booming all over Europe. It is not booming anywhere at the moment and if the hotel was finished where would the tourist come from to guarantee you a return? Accept Medviews offer, I think there are 2 one bed apartments left at Esentepe which are lovely and there is Sunrise Beach Club. At least you will have something for your money. You will find that nothing is illegal in the TRNC and developers do this kind of thing every day. At least they are offering you something for your money, take it now.



The butlers wife

happyhorse


Joined: 28/08/2009
Posts: 1

Message Posted:
28/08/2009 13:48

Hi

We have an apartment in the seaview /hill top complex and had paid fully for one in skyline, we decided to buy the pent house in seaview for our swap, which now offers us the oppurtunity to rent two apartments next to each other and hopefully increase rentals. Who knows....I have to say we as a family with children enjoy our stay at Hilltop, the staff are friendly, the pools great although no life guard, and the site spotlessly clean, . We feel safe and looked after and not over crowded,yes the skyline blocks out the sun in the morning and is a concrete shell (offers some welcome shade at times around the pool) but if you can swap to seaview then do, the complex is not fully finished but soon to have a indoor and out door pool with gym..soon...who knows could be 2011.Lol

I have to say despite the let down and hold ups, we decided to just move forward and buy something before there was nothing left to buy.

Sandcastle


Joined: 16/03/2009
Posts: 215

Message Posted:
28/08/2009 14:00

This may just be a rumour so please look into this before you make your mind up.



Several friends of mine have just come back from Hilltop and Seaview (and all have had a great time and agree with happyhorse) and have been told that both SeaView and Skyline will be starting again in December with SeaView being finished before next summer.



Now I know SeaView have been told this before so obviously check it properly before hand, but it seems Medview have now employed new builders and this time, it may happen.



Please Please check this out before making any move as it could be good news, but you need to know for sure before you make your mind up.



When do you need to tell Medview by? Could you leave it till December and see if work does start?

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
28/08/2009 15:18

Hi sandcastle,



If Medview were going to start the build at Skyline again in December, why are they asking all of the investors in that property to transfer their money? That doesn't make sense to me and waiting untiI December certainly wouldn't be the decisioni I would make. Unfortunately Medview are always a little slow in giving out information but I would phone Martin Clitheroe and ask him if this is true. If it does turn out to be true, there will be lots of unhappy people but I personally cannot see it to be true.



The butlers wife

Sandcastle


Joined: 16/03/2009
Posts: 215

Message Posted:
30/08/2009 13:05

I agree with the Butlers Wife that it does sound unlikely, but then again you never know. And I did say it may just be a rumour.



Which is why I advise you look into it very carefully before you do anything. I personally would not jump into anything, but look into everything and take my time to make sure of what I am doing.



If they would guarantee that the same offer is there in December and it is put in writting from Martin or AOS then there is nothing to loose. And you have time to look round.



What ever you do, check every last detail out and make the choice that suites you.

MartinMedview


Joined: 10/09/2008
Posts: 11

Message Posted:
08/09/2009 11:09

Let me make things as clear as I can.



So far as Seaview Resort is concerned work will begion on the outdoor pool this month. Work is also shortly to begin on the building that will house the indoor pool, gym, jacuzzi, turkish baths, health treatment centre, sauna and restaurant.



Work will not be recommencing on Skyline residence either in December or at any other time at least not under the present struictuire or ownership. In all probability the development is likely to be sold as is albeit that Ali Safa may be one of the parties involved in the buyout. Nothing is certain at the moment.



The current revised offer to Skyline owners to swap expires on 30 September and no further offers are envisaged. The developer considers that it has given every opportunity for investors to exit with a return.



Martin

Safa Group

Justchampion


Joined: 10/09/2009
Posts: 2

Message Posted:
10/09/2009 16:48

Has anybody here thought about taking legal action against medview?

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
10/09/2009 16:59

Hi rich,



As Medview have given investors every opportunity to exit with a return, how could anyone win a court case against them? I doubt whether you would find a lawyer willing to take them on in the TRNC. This doesn't mean to say I agree with what has happened, just being realistic.



The butlers wife

krisna


Joined: 27/08/2009
Posts: 2

Message Posted:
10/09/2009 19:45

Hi Champion



Yes , but as butler says it woudnt be easy, we would probably need to make it a joint effort with everyone who isnt happy with the offer. I myself havent accepted the exchange offer as i feel it isnt comparable to the original investment, and also wonder why if Medview are being so generous there is a time limit on the offer ?



Regards



Krisna

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
10/09/2009 22:32

In view of the fact that there are possibly hundreds of people who have invested in the TRNC who haven't even got a finished home for their money and lots of people who haven't got water or electricity after months of waiting. These people have tried going down the legal route and have got absolutely nowhere. Taking Medview to court will take years to get a hearing and lots and lots of money. Mr Safa is no small fry and to be quite frank I think you would be wasting your time. However, it does not cost a lot to talk to a lawyer, who will tell you if you stand any chance at all of winning.





The butlers wife

Oleander


Joined: 03/05/2009
Posts: 302

Message Posted:
11/09/2009 00:05

I read in the recent Medview Newsletter, they have increased their sales force at their Safakoy office and have started building holiday complexes in Esentepe and Catalkoy with gender separated facilities to appeal to strict muslims and open the gates of N. Cyprus to their more 'conservative consumers' and that these new IREM KONAKLARI developments are due to be completed in 2010.



Do you think they are giving up on 'The Brits'?



http://www.medviewhomes.com/ebrosur2/pages/2.html

Sandcastle


Joined: 16/03/2009
Posts: 215

Message Posted:
11/09/2009 12:15

No matter what anybody says and any complaints or problems, I do have to say that Medview do finish most of their sites. Its only SeaView and Skyline that seem to have got stuck.



As the Butlers Wife says, there are hundreds of other unfinished homes with no chance of a swap or refund or completion. Hundreds of people who have no chance of a swap or refund but stuck with a building site with no chance of finishing.



Most Medview owners do seem to be happy (apart from the amount of the maintenance fees) just make sure that anything you buy, your advocate checkes for mortgages on the lande before purchase.



All and all, in my opinion, Medview are probably one of the better companies out there and if work is starting again at SeaView as Martin has stated then a swap then its a good deal. At least they bother to reply even if you dont like the answer they are still there!



Good luck in what ever you decide to do.

Justchampion


Joined: 10/09/2009
Posts: 2

Message Posted:
16/09/2009 13:27

Thanks for the responses, there are many reasons why their proposal is unacceptable. It may suit some which is fine but everyones circumstances are different so one solution does not fix all. It will be interesting to hear what my lawyer has to say!!

jessiela


Joined: 29/07/2009
Posts: 3

Message Posted:
17/09/2009 12:11

Surely if there is nothing suitable to swap your rooms for, then Medview will eventually have to buy you out. It is no coincidence that building has stopped after the shell has been constructed, the next phase would be the fit out, and there is no way that this can be done if a buyer for the hotel is in the balance, any potential buyer would insist on their own specification for the interior, especially if it is a hotel chain. So the bottom line is a buyer for the hotel is being seeked, no new owner of a luxury 5 star hotel and casino would contemplate having third party investors in their hotel, so all private investors must be moved on. They surely will struggle to move on all of the investors, there was something like 150 in total. It would seem Medview are not in that much trouble financially, they are building new developments and offering houses to Skyline investors that they could sell elsewhere if they were that desperate for money, so seems unlikely that they would go under.