Singing Pig

So, the election is over, right!  Our guy won, right?  Now we should roll through Confotur, right?

 

Also, Dexter, I have been reading the DR news with great interest.  Where can I find the article on Punta Perla being shut down by the government?

Thanks!

There should be some kind of fanfare....perhaps a parade or fireworks.  Actually I gues I'll have to make do with a celebratory pint!   For those of you yet to hear the Developers have just issued a three-page letter describing the current situation, their plans and some interesting financial options.  This has been so long in coming it's almost like finding religion !!

For me the main headline is that they're not waiting for CONFOTOUR any longer and construction is starting.  I quote "Punta Perla has decided to wait no further and to initiate the next construction phase.  The approximate date for this construction (I paraphrase here) will be announced in the next 30 days".

Lots more to discuss here - so I will be posting again shortly but for now if I may....

Yaaaaaaaaaaaaaaay    !! 

 

 

I like what I read...

this is a real confidence boost

OK - here's a few more quotes from the letter - has anyone else received it yet?

"The works during this phase will be carried out by the Selman Group along with Kuki Silverio - link below:

http://www.kukysilverio.com/kuky/index.htm

The identity of the international construction group for PP will be revealed during the next public announcement ceremony for the project which will take place within 4 months and at which time we will have the pleasure of presenting a series of exciting updates benefitting the PP project and all involved"

"The date for the CONFOTUR meeting for PP has not yet been determined by the DR authorities.........waiting no longer and pushing ahead etc"

Regards 

What financial options are you on about, as i got an update letter as well, but no mention of finance. You always think due to the lack of past communication, that when they do communicate, it is for some other reason other than informing the investor's as to what is happening with the progress of the development, ie we got a letter before xmas saying they had started construction, but that was only prep work, to get them out of some contract issue to do do with paying over money if they did'nt start construction by a certain date.

 What i'd like to see are some audited account's showing us where all this deposit money is. You are probably talking about 100mil + of deposit money.

 

A.N. other

there maybe different letters depending on when your unit was purchased. For those such as myself that should have taken delivery of unit before Dec 31/08 there are some early exit options available should you wish not to continue with the purchase that will see your deposit paid back in full along with some appreciation paid by the developer.

This is of course speculation on my part, however, there are penalty`s to be paid for late delivery and it would appear in principle that those that invested early have the opportunity to make a few bob by selling out at this stage in the project and the developer then re-selling those units at the now higher purchase price which will of course be more profitable for himself.

So, another announcement will be made within '4 months'. A cynical view could be that they've just bought themselves another 4 months interest on everyone's money.