Singing Pig

Just joined SP- have been reading posts for almost 2 yrs. Invested in PP about 11/2 yrs ago. Just returned from a visit of PP site, 5-08. Like many of you I am concerned with lack of positive facts that are substanciated, this due in large part to the fact that I saw no building what-so-ever! No construction, no beach club house, no CM golf cource, and no reply from by Rep. Agent to my concerns. Frustrating to say the least, yet I am optimistically optimistic, that this will all work out in the end... it is my understanding that this is how things are done in the DR, that being, slowwwwly! However- some positive, factual, updates are warrented and long overdue. Patience is a virtue, patience with knowledge, priceless...Mr. Bonzo Bonds, appreciate your positive outlook and info that you somehow seem to find, this even after reading your old messages with info that is now way past due and yet to take place.. Keep up the positive outlook, I for one need to here some good old positive news...thanks for the info sir!    Golden Retreiver

essentially the 'finance options' made available to the early birds are :

1.) If you don't want to proceed, register for your money back and you'll get it PLUS 20%.

OR 

2.) On Completion the developer will buy your unit back for what you paid plus 50% of the difference between what you paid and the list price at the time of completion.

OR

3.) Keep the property and receive 15% rental from the contract.

1&2 are new options, 3 was always an option.

with current list prices, option 2 is showing me a paper profit of $200K  I suspect as it approached completion list prices will rise further. But all this clearly hinges on the projects success. At least anyone who is unhappy can get their money back. This really is a turn up for anyone losing sleep at night and if honoured by the developer will earn him much much respect.

Clearly Pablo Silver or Lead. & RogerD would exercise Option 1.) Thats if they'd put any money down in the first place,  anyone else?

Personally,  if there is no progress soon I'm bailing out altogether, I've had enough. Not even a $200K+ carrot will keep my interest in this project. I need to see some progress to keep me keen.

also what are the current list prices on the 2/3 bed villas?

 

A.N. Other

Do you have the option for a refund?

Im in a similar position.

Bought into this last year through IPIN.

On one hand there is no reason to doubt that slow or no progress is anything other than the way it happens over there; on the other hand, the 'news' letter that said absolutely NOTHING other than that there will be more news soon is an insult to the intelligence of investors.

Why are they only now appointing the construction companies? (I thought there was a multi-billion construction organisation behind this?)

Why the change of name?

What if the earlier investors do bail out causing a 'run' on the deposits in Northern Rock-esque style?

etc etc

Sorry, Paraiso- in this case, 'No news ISNT good news', and 'news that there will be some news' is even worse.

get your money back and move on.

Welcome O.I.

A lot of the points you make are valid.  I didn't spot a change of name though - where is that?

I do not understand your comments on "news" though.  None of us were happy with "no news" and now that there is some you moan about that.  The mere fact that the Developer has formally said anything is in itself newsworthy because of the extended silence that existed before.  Presumably it doesn't count because the only news you want to hear is "villa finished here are the keys"

Like PK said - move on

Bonzer

To those of you looking for some News about Punta Perla go to puntaperlaproperties.com and check the news heading. An article from the Developer and dare I say, a positive read. I found this info in my regular quest to try and find any new news on Punta Perla. I hope this can help your cutting back on the ulser meds...

golden Retriever,

all that have invested in PP have received that letter and have been discussing it for the past few days on here. There is info out there, for example, are you aware the CM golf course will consist of ten par 4`s, four par 3`s, and four par 5`s, it will extend to over 7200 yards and will feature 5 sets of tees to suit every type of golfer.