Singing Pig

gr, it may well be a fantastic setting, but three years on, what do you actually have to show for your money ?. The developer must have raked in a tidy pile in deposits, so where is his incentive to actually build ?. Plus, the property world is a very different place from when this first started (or rather, didn't start !.)

Golden,

Have you given any thought to how you would go about "pulling your money out?"  I suspect if that option were available, a host of investors would have excercised it.

It is clear to all, we are at the business end of this project. We have been given exit options should we wish to exercise them. The dollar rate is around 1.86 and we all know where we stand. If your plan was long term, it`s running 3/4 years behind, if you want out, get out and don`t look back because it may be painful. There are choices and the developer can no longer continue selling this project without building it and I believe he is very aware of that.

Hi Alig, I'm interested to learn that you have been given an exit option. Was this from Punta Perla Sales UK? The only thing I've got from them since I invested in April 2006 is a beach towel! No updates, no communication whatsoever. Maybe I should ring them up to check they still have a record of the money I gave them...

Hi John, I`ll pm you next week with some info. Just off now for a few days.

me too please, alig.

I bought in on the 8% deal last year and, whilst I expected some delays- it is the DR after all!- I didnt expect it to be the developer who would appear to be the slow party.

 If i could get my deposit back now then I'd take it, consoling myself with the exchange rate gain.

1500 sales at 30% deposit would surely average out at $150 MILLION funds- its not like they cant afford to make a start is it?.

 Where is it and what's happening to it? 

The straw that broke the camel's back for me was the recent news 'update' where they told me about the forthcoming exciting news which would include insurance options they had sorted out.

 

Forgive me for being boring, but that just doesnt strike me as 'exciting'.

Exciting would be a picture or two of actual work being carried out and promises that contractual deadlines werent just going to be laughed at. 

As one of the first investors in Punta Perla, it has been very disappointing at the lack of progress. For now I am going to stick with it and hope we have some good news in September.

DR president elected about three months ago just last week announced his new cabinet. He also replaced the old DR Tourism Minister Felix Jiménez to a new Francisco Javier Garcia on Tuesday.

 

Maybe this can explain the latest Punta Perla delays?

 

Alex