Las Olas

suefrankdahl wrote:

Over 100 guests. Isn't this the off season down there? Don't know where  or how to chase it down online but didn't think the hydroelectric dams had been built yet. Probably takes a fair amount of time?

Why'd they drill a well at Las Olas if they had an aquifer?

It's great that there's one north of Canoa. Guess whoever owns property there will do okay long as it's not a great big thing.

How much do those water trucks actually hold? Don't know the population of Bahia but it seems like you'd need of few of them to give everyone a four day supply.

I never said Las Olas has a aquifer on there property, re read the post, I don't  use a water truck, Where do you come up with this?

misha16 wrote:

$10,000,000 $25,000,000. where do these wild number come from?
I went to the desal plant and headquarters in Manta/ 40 minutes or so from Las Olas, 120min from Bahia where I live.
http://www.proquimarsa.com/equiposistemas.html 250k will get Las Olas going for the first phase.
This is the same equipment that is used in the fastest going city in Ecuador, Manta. Manta also is pretty much a desert but yet continues to grow exponential.

I haven't been able to find anything but wild numbers about the cost of desalination plants.  The technology is new, evolving and uncertain.  The link you gave is to a company that makes small units to provide drinking water for boats at sea, which would be inadequate for a large housing development.  It's clear to me that a plant big enough to provide water just for the 3,500 people in the first phase of the development would cost tens of millions of dollars to design and build, and be very expensive to maintain and run.

LeftClique wrote:

misha16 wrote:

$10,000,000 $25,000,000. where do these wild number come from?
I went to the desal plant and headquarters in Manta/ 40 minutes or so from Las Olas, 120min from Bahia where I live.
http://www.proquimarsa.com/equiposistemas.html 250k will get Las Olas going for the first phase.
This is the same equipment that is used in the fastest going city in Ecuador, Manta. Manta also is pretty much a desert but yet continues to grow exponential.

I haven't been able to find anything but wild numbers about the cost of desalination plants.  The technology is new, evolving and uncertain.  The link you gave is to a company that makes small units to provide drinking water for boats at sea, which would be inadequate for a large housing development.  It's clear to me that a plant big enough to provide water just for the 3,500 people in the first phase of the development would cost tens of millions of dollars to design and build, and be very expensive to maintain and run.

The navy must have them. Those aircraft carriers with hundreds maybe thousands of people are out at sea for months. Submarines on patrol for months. Could they carry that much water.? If they do have them am sure they don't buy them from a website. Probably could get a better idea of the price tag if you could find out  who they contract out the job to build them

LeftClique wrote:

misha16 wrote:

$10,000,000 $25,000,000. where do these wild number come from?
I went to the desal plant and headquarters in Manta/ 40 minutes or so from Las Olas, 120min from Bahia where I live.
http://www.proquimarsa.com/equiposistemas.html 250k will get Las Olas going for the first phase.
This is the same equipment that is used in the fastest going city in Ecuador, Manta. Manta also is pretty much a desert but yet continues to grow exponential.

I haven't been able to find anything but wild numbers about the cost of desalination plants.  The technology is new, evolving and uncertain.  The link you gave is to a company that makes small units to provide drinking water for boats at sea, which would be inadequate for a large housing development.  It's clear to me that a plant big enough to provide water just for the 3,500 people in the first phase of the development would cost tens of millions of dollars to design and build, and be very expensive to maintain and run.

http://www.proquimarsa.com/ Home page,/Inicio  Milliones de meters cubicos de aqua. translates Millions of cubic meters
nothing about boats no small units.

misha16 wrote:

http://www.proquimarsa.com/ Home page,/Inicio  Milliones de meters cubicos de aqua. translates Millions of cubic meters nothing about boats no small units.

I can't get Google to translate anything past the opening page, but the illustrations look like the small units for boats I've seen on other websites.  If you speak/read Spanish, would you mind saying how much they charge to design and build a desalination plant capable of providing water for 3,500 people and how much it would cost to run and maintain?  The only desalination plant costs I've been able to find online are hugely expensive and far beyond the budget of any private individual, unless it were Bill Gates.

LeftClique wrote:

misha16 wrote:

http://www.proquimarsa.com/ Home page,/Inicio  Milliones de meters cubicos de aqua. translates Millions of cubic meters nothing about boats no small units.

I can't get Google to translate anything past the opening page, but the illustrations look like the small units for boats I've seen on other websites.  If you speak/read Spanish, would you mind saying how much they charge to design and build a desalination plant capable of providing water for 3,500 people and how much it would cost to run and maintain?  The only desalination plant costs I've been able to find online are hugely expensive and far beyond the budget of any private individual, unless it were Bill Gates.

There is no quotes for prices. Looks like you'd have to contact them directly with your system needs to get a price, but looks like is a pretty legitimate, and respectful company that would be quite capable of installing a desalination plant for Las Olas. If it would be an astronomical price or not have no idea.

The Pedregal Development in Cabo San Lucas has built there own desalination plant. Would think the cost of that would probably be similar to what Las Olas would need, but can't find the cost for the desalination plant in Pedregal. Maybe someone else can find it.

suefrankdahl wrote:

Sort of irrelevant anyway to quibble about the price or capability of desal plant given how long it took them to get the earth moving equipment and the well dug. Haven't heard any mention about how the wastewater will be dealt with. Be quite a lot for 3,500 people

Just wondering if you work for Kim and David, Misha. You sure are promoting this whole project for them and sticking your neck out pretty far given all the concerns of prospective investors.

not working with them at all

livinginbahia wrote:

Well let's see what happens in November. Either they will start building houses or they will have to make up more excuses as to why they aren't fulfilling promises. Just how long they are able to continue will be interesting to see.

Not stating this development is legit, or a scam, but if it's let's say of questionable validity, then it can go on for years, and years. Is very simple formula. First, most that have invested may not be happy with progress, and tired of excuses, but they will hold steady, and hope that their investment pays off. Second, their is a ton of inventory to sell, and all you need is to find fresh faces. As long as more money is going in than coming out, then you can keep promoting, and selling properties for a long time. Isn't it obvious by now that there is always going to be a large supply of people who buy a dream?

Due Diligence wrote:

I also imagine that there are people on these blogs that unfortunately have ulterior motives. Some may be lesser competitors, real estate agents that can’t sell for the project, disgruntled employees or ones that did not get hired, people that can’t afford Las Olas and are trying to rationalize it, people that just like to be negative in general and people that feel they are providing a public service but really just want to be heard.

That's a very good point, and one that should always be considered.

Due Diligence wrote:

The people I would like to hear from are the approximately sixty home buyers that have already purchased at Las Olas and receive regular updates on the project ...

If you are concerned about receiving info or opinions from people with an agenda, I don't see why you would want to hear from these folks. Once they have put money into the project, they have a powerful interest to defend their investment by talking it up.

They, and the developers themselves, would seem to be the worst possible sources of unbiased opinions.

For myself, I have no opinion on this particular project. I've seen a lot of people, though, buy into land development projects that look great on the prospectus but never come to fruition. So I think a reasonable amount of skepticism is always in order. However, Las Olas may well be a different story.

Bob

livinginbahia wrote:

There is nothing down there but a bunch of damn bulldozers. I sure hope that everybody who invested in this development doesn't lose all their money.....or die waiting for their houses to be built.

The emotion expressed in the first sentence above is appropriate.

Expats who invest in pre-construction projects in Ecuador are subject, at the very least, to delays -- often protracted delays.

I bought and paid for my Quito pre-construction one-bedroom condo in Centro Historico, in 2005.  It took them two-three years to even start construction (the old structure had to be taken down first and parking areas excavated).  Along the way the ownership of the project changed a couple of times.   By the time occupancy of units (little by little) became possible, it was 2009 or 2010 and mine was one of the latter ones to be ready.  It took my attorney two years to close.

Now that's a one-bedroom condo in the capital.  Who knows how long an ambitious project like Las Olas will take and what problems they will encounter with water and environmental issues.

The point -- and obviously this can be seen as latecomer second-guessing to someone who has financially committed to this project -- is that saving money in pre-construction in Ecuador is a tradeoff.  You may have to wait an unpredictable number of years for a good result.  You may be either waiting helplessly for seemingly interminable periods, or pestering your attorney or the developers as though that will move things along appreciably faster.

In my case, despite the 8 years between paying and move-in, I was fortunate.  I didn't need the condo unit until last year and was able to move in during July of last year...now living in a quality apartment, rent-free.

New investors have to ask themselves if they are willing to put up with the delays, and if the potential pre-construction savings are worth the headaches.

cccmedia, Camino Real complex, Centro Historico, Quito

livinginbahia wrote:

Does anyone know when they might actually start building homes in Las Olas?

Don't shoot the messenger. I am only quoting straight from the LasOlas website.

"WHEN WILL THE FIRST HOMES BE READY?

​We expect to commence construction of our first homes in the second half of 2014.  Initial homes will take four months to construct."

That was post #101 I made of which copied and pasted directly from the website.

As of today "Home construction commencing in six months"
http://lasolasecuador.com/master-plan/

Not making any judgements, only relaying the information that the developers have posted directly on their website.

sleepmaster wrote:

So you paid pre-construction prices for your condo and then waited 8 to 9 years to move in?  And that's a formula you're comfortable with?...Have you considered that you probably would have doubled your money, but instead the developers/new owners had use of your money for all that time.

I'm not sure why LivinginBahia ("Jajajaja") and SueFD ("ditto") are laughing.  But it is clear to me why j600 prefaced his latest post with the statement, "Don't shoot the messenger": this thread is like a hornet's nest, and understandably so, ready to erupt at any point.

Your implication that I was comfortable with a formula of paying pre-construction pricing and then waiting eight years is to misunderstand what I was trying to do.  The formula or plan was to obtain access and use of the unit in a reasonable time, have it rented out to Centro Historico visitors (I had an experienced rental agency standing by from the start) and eventually have it for part- or full-time personal use many years down the road.

The point I was trying to make -- and I think a re-reading of my last paragraph in the earlier post makes it clear -- is that the likelihood of long delays and headaches must be considered by potential pre-construction investors.

No "formula" could have predicted that I would need the condo unit in the summer of 2013 because my U.S. doctor was ordering me to take early retirement and recover my failing health in a more favorable climate...and that the condo would finally close at just that time.

By the way, the unit HAS appreciated considerably since "el principio,"
according to other property owners here in Centro -- not doubled, but probably around 60 percent higher.

As recently as two years ago, I was paying $1,025 a month to rent my one-bedroom apartment in Bethlehem, PA, plus a couple hundred more for utilities and cable TV.

Now my association fee is $29 a month, water-electricity-heating usually totals about $15 a month, taxes average about two dollars a month, and of course, it's rent-free.

I have absolutely no problem with folks venting on this thread (although my preference would be that it's not directed at yours truly).  In fact, I think venting is probably a healthier path than what I was doing waiting around for years and occasionally trying to push my attorney into getting things moving.

Nobody said this has to be the most civil thread on Expat.com.

cccmedia, Centro Historico, Quito

sleepmaster wrote:

To cccmedia...

Until there is sufficient evidence of adequate infrastructure (WATER, power, roads, waste management,access, etc.) and completion of the golf course (the key feature), I will choose to wait to invest....

Avoid the "opportunity" to get in early at a lower price...

Sleepmaster,

I think this advice is prudent and your decision to wait is intelligent.

cccmedia, Quito