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Matt21,

 I find your post totally worthless. If you have facts to report then report them, but just posting a load of negative nonsense helps nobody on this forum.

Sorry, just the way I feel. 

Mark

Mark,

I actually find your post worthless. Exactly what part of matt21's post is factually incorrect? No work has been started despite numerous 'start dates'.

True there's a lot of negativity in his post but then that's all you can report on with this project and, beleive me, I have no vested intrerest in running it down. Like everyone else on this forum I have money invested here (although not sure 'invested' is the right adjective!).

There are many questions to be answered on this project and I note that NO ONE has answered any of mine regarding refunds. SO I ask again, anyone received a refund yet??? I won't hold my breath. Also do you actually think that the 70% guaranteed mortgage on the balance of your purchase will materialise...........I think not, so how would you fund this yourself?

I am beginning to think this entire project is a scam.

Judge

Have you actually had the balls to speak with anyone from Emerging Earth or is all you are good for is to post annonymous bo**oks to give us all the heebie jeebies? If you want an answer then do what the rest of us do, get up off your fat a**e and do something. If it was a scam, would the DR government back it as well as Prince Albert of Monaco? There's only one set up here designed to decieve people and that's the tosh which comes from your boring monologue. You are focussed on talking this project into the floor. If you really were an investor, rather than spread malicious BS on a public forum you would investigate the situation for the real facts and deal with them as any other normal investor would. You've got nothing less than a big mouth and a small brain and are either a competitive developer/agent or just an old woman with nothing better to do.

Do us all a favour and stop posting on this thread.

What courage you must have knight to make a phone call....how brave you are! Of course I've called them peanut brain.

Let's stick to some facts shall we.

1. No bulding work has commenced.

2. Numerous start dates have been missed.

3. No one has received their 30% deposit back (unless anyone knows otherwise?)

4. We don't know where our money is being held.

So rather than slag off those of us who wants some answers get your head out of the sand and do some investigating yourself WK. you seem to beleive anything the sales people tell you. I, on the other hand, believe facts and hard cash rather than cheap talk.

I'm not sure the term 'investors' is apporpriate. The individuals who signed one sided risky contracts (to buy off-plan property in a duristinction not covered by English' law) and handed over cash into the 'free cash' flow of the developer , to do with as they reasonably please (this is not unlawfull just very unwise), via sales agent front companies, arn't what I would term investors, just retail buyers not doing appropriate due dilligence, befor committing.

The comments below are intended to be general and not aimed at this developer/scheme as the only contact I had was to talk to a sales agent and look at the contract a couple of years ago.

"DR government back it as well as Prince Albert of Monaco?" much smarter people than these get taken in (look at some of the brightest and best caught by Madoff).

The worrying thing is many similar projects (Big off plan property developments in a sunny destination abroad, UK investors) have been abandoned some due to commecial/business reasons (even pre credit crunch), others because they were set up as up-front deposit accumulation scams. On the basis this is a bona-fid project (and I have no evidence to suggest it is anything other), it is now much less likely to gain funding as we are just at the begining of the global credit crunch, massive global deleveraging and a recession.

I think rather than petty name calling, anyone concerned and wanting their deposit back should take appropriate legal advice on the contract. However trying to litigate against a sales agent in the UK with limited assets will probably be about as usefull as trying navigate the legal system of a bananna republic.

I have been contacted by a company recently called European Mediation Services. If you go on their website they have a list of projects and companies that they claim are fraudulent.  They will offer to get 100% of your deposit back in return for a 10% upfront payment.  They claim that there is a European Union Fund that protects EU residents if they have been a victim to fraud or "mis-selling".  

I have done a bit of research into this so called fund and no such EU fund exists.  Also, this company was just incorporated in Aug 2008 and the registered address is in Spain.  They will never contact you by email other than to send you a "contract" that binds "them to you" (as they put it).

It seems to me that this company preys on investors who either have been victim of fraud or are involved in projects that are rumoured to be fraudulent.  Punta Perla has had accusations of being a fraudulent project and that is probably why it is on their list.  They probably go online and compile a list of projects with disgruntled investors and contacts them.  They will then claim to get your depost back on a "no win no fee" basis but will ask you for an upfront payment to start the process.  They will offer to refund your money if their "claim" to the EU courts are unsuccessful. 

I am an investor (or shall I say have gambled) in Punta Perla and I have had my doubts about this project due to lack of progress.  The offer from this dubious company might, therefore, be tempting to some, but if you do decide to do business with this company, please do your due diligence and be careful.  There are many scams popping up everywhere on the internet and elsewhere as it is a very testing economic environment for most people.  Disgruntled investors are prime prey for them.

On a brighter note, I spoke to Eva at the investor relations department and she say she is working on a newsletter, is working towards signing construction companies and will diffuse rumours surrounding the project in the coming weeks.  At the same time, I have instructed a law firm in the DR to do due diligence on Paraiso Tropical's financial position and where investor's deposits are being kept.  If the land is wholly owned by Paraiso Tropical and it has no other creditors, and if the project doesnt go forward, investors should be compensated via the sale of the land.  I recommend that buyers in the UK have their contracts legalised through their UK solicitors at the Embassy of the Dominican Republic.

To be honest I did at one point think that the project was a scam and had written my deposit off, but my impression after the brief conversation with Eva was that- that is actually not the case and that although they are running into massive delays, they are working hard to get things rolling.   

Its anyone's guess what will happen with this project going forward, but I will try to share the legal opinion I get from my solicitors in the DR after they finish their (very expensive) due diligence on the project and its developers.

In the meantime, as I have suggested before, if anybody has anything constructive to add please do so and lets leave the speculation to ourselves as it really does give the project a terrible name.  Even if the project is genuine, negative sentiment alone can bring it down and as is with any investment, confidence is key. 

Thanks for the post Saburo, smells like rotten stinking *** to me.......and to you by the sound of it.

I called Emerging earth today who basically didn't want to know, completely not interested in any of my questions and simply referred me to the Spanish office. This development is beginning to stink. Eva can tell you all she wants but talk is cheap. Personally I have lost all faith in the developer and will only regain it when i have my money back.........the chances of that happening are 50/50 at best.

I just hope I am proved completely wrong on this and, if so, will be very happy to admit it.

I note that no one has had their money back so has anyone even been promised a refund of the 30% deposit?