Condado de Alhama Community of owners agree to take legal action against SAREB Bank

In June the Condado de Alhama Board of Presidents agreed to act against SAREB Bank, the owners of the Al-Kazar Commercial Centre

Concerns raised at the latest Board of Presidents meeting in Condado de Alhama were that there have been no lights in Al-Kazar Commercial Centre for 4 weeks, the tiled areas have not been cleaned for months and there are numerous health and safety hazards in the complex.

It was also pointed out at the meeting that the maintenance of the Al Kazar is the responsibility of the owners, SAREB, and not of the community of owners, but as the presidents felt it was the community who use and benefit from Al-Kazar action should be taken on their behalf.

SAREB, Spain's "bad bank", was set up by the Spanish State through the Banco de España in 2012 to acquire and manage the failing banks, toxic debts and assets amassed by the construction and banking sector after the 2008 property crisis. The bank operates by restructuring loans and balances and selling off assets in an orderly manner to reduce the risk to Spanish tax payers and stabilise the construction and banking industry, but it seems that the portfolio of properties the Bank holds is only financially, not in terms of the day-to-day running of properties.

SAREB acquired the Al-Kazar Commercial Centre as part of the Polaris World property portfolio after the construction group collapsed and went into bankruptcy in 2016 with huge debts.

In June Condado de Alhama board of presidents met with Al-Kazar commercial tenants to see what could be done to help them, encouraging them to install as much outdoor lighting as possible from their businesses and to clean up their own areas. To date, two businesses have provided lighting until 3.00 am, allowing light to shine on the lower part of Al-Kazar, but the entrance and the car park are still dark. For this reason, and taking into account that the summer season had already started, it was decided that the community of owners would install solar lighting in that entrance as a temporary measure, and use those lights for the common areas once this problem has been solved.

The community of owners have also arranged for the cleaners of La Isla, Naranjos and Penthouses properties to clean the tiled areas with the floor cleaning machines already used in the community areas.

The community presidents have contacted local businesses to see if there is any help they can provide and to date STV the gardening and cleaning contractors have donated 50 flowers that can be planted around Al-Kazar: a good start but more help will be required!

To this end the community presidents have asked if any local owner or resident or business could put in a few hours to help clean up the Al Kazar along with many presidents, who will also help.

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