Singing Pig

Hello, this is my first post here but I am following this thread for a while now.

I was originally interested to invest in Punta Perla but was warned by many people do so.

One of my realtor friends in Canada sent me the following link:

Paraiso Tropical S.A. and Miranda, Ricardo - Cease Marketing Order

 

 

Thanks for that John. But this in no way impacts the development.

These people do not have licences to market in BC and should not have been selling with a licence in that province. They were individuals working on their own, like many do,

So we have CONFOTUR, and there is nothing else standing in our way?

I`m fairly certain there would have been an announcement. No announcement would suggest no Confitour.

Hi.  Its my first post here.  I purchased a property on star island last year and another golf apartment in the beginning of this year.  (I own a business that invests in off-plan properties in countries such as Morocco and Turkey)  I share the frustration with lack of progress of other buyers.  I have some information regarding the Confotur so I thought I'd share.  Apparently the developer met the president last Friday and the official presentation of the Confotur took place.  Following this, the Government will conduct a "legal wrap" around the issue of the document which takes a few weeks.  I am not quite sure what this exactly means but sounds like a rubber stamp by the bureaucracy.  I don't expect it to be done in a few weeks but seems like its at least a step in the right direction.  The announcement apparently will be made only when the developer has the completed document in their hand.  As there have been many empty announcement and promises, this is probably the right move at this juncture.  I would also like to add that although the lack of progress and unkept timelines by the developer has been very frustrating, my experience with punta perla sales (who are merely the sales agent and probably are keenly awaiting announcements from the developers as much as we are) has been relatively painless and they have been keeping me posted as much as they can.  I have privately contacted a law firm in the DR to carry out due diligence on the developer and to investigate their financial position as this is currently my biggest concern.  As long as the developer is not highly leveraged, I can sleep soundly at night.  The investigation might take a while, but if I will share my findings when I find out more.  The pessimism by fellow investors that is shared through this post has a negative impact on would-be buyers and on the general sentiment towards this project.  I think pressure should definitely be applied to the developer through local solicitors in the DR and our solicitors in the UK (which I am trying to do) regarding honest updates and progress, but speculation and negative sentiment by existing investors certainly does not help this project in any way.   

Pessimism and negative sentiment goes away when construction begins.  If we have been waiting all this time for Confotur, and now we really have it, then the past is the past, and the project will stand on its own.  Furthermore, once construction begins and it moves from "off plan" to "actual property," it will compete very nicely with Cap Cana thereby boosting property values for everyone.  I don't presume that Punta Perla will ever equal Cap Cana, as I don't see how it can compete with the three-dimentional feel of Cap Cana, but will still be boosted by Cap Cana's success nevertheless.

Ok, so how is that "done deal" CONFOTUR doing?

It figures this would happen.  I was able to wait out the Confotour; however, I can't hold on any longer...I now need to sell my apartment in Punta Perla.  If I do not quickly, I am going to lose my primary house due to this economy.   If anyone has an interest, please PM me.  

 Have a good one!