The concept "FAM" Fastighets AB Andalucia del Mar came to be in the mid 1970s and consists of 28 Swedish limited companies each, on behalf of their shareholders, owning and managing a two bedroom condominium in the complex Andalucia del Mar, Marbella, financed through weekly fees charged to the shareholders based on their ownership. These condominiums were built between 1978 - 1984 and range in size from 113 to 143 sq. meters. Click on Our apartments to see floor plans pictures and related documents for each apartment.
Each apartment is a limited company with a set number of shares. Each week is represented by the assigned number of shares. To each share there is an assigned a right to utilization the same week(s) each year. The Annual General Meeting is held each year in Stockholm, and the voting rights are based on the number of weeks that the right to utilization determines. One week is one vote.
In addition to the cost paid for the share/s the owner pays an annual weekly fee corresponding to the number of weeks owned. This fee includes the use of a car.
In the period 2002 - 2009 all kitchens and bathrooms were renovated to maintain and improve on the already high standrad at the time of construction. In the future such renovations will be done as needed and according to the three year investment plan proposed by the Board. The owners vote on this plan by completing the annual investment questionnaire which is an integral part of the budget process and gives all owners influence over the investments made in their apartments.
Ours is also a "full service" concept where the apartments are fully furnished, comes with linen and towels, china, glasses, kitchenware and appliances such as a coffemachine, microwawe and electric kettle and the use of a car, The owners only have to bring their personal belongings. There is a service office on site where our personnel is available to help in any way they can. Click on Service office NAM for more information.
All 28 companies are Swedish registered corporations, have a the same Board of Directors and auditor who continuously review the BoD´s management and administration. Having the same BoD for all companies promotes administrative efficiency and sound financial managment. The Articles of Incorporation, the Conditions and Rules of Conduct, a few policy and principles documents provide the framework for our present and future operations. The companies do not have a Managing Director, as the Board Chairman acts in this role and is re-elected each year at the AGM taking place in May/June. The AGM elects the Board and also decides the weekly fees and if additional capital is needed for investment activities.