Interesting points
Hi Tony
I appreciate your points of view; I am a new member to this site.
One of my concerns for the MABR project has been that the only comparative project to base an opinion on about IPIs diligence is Zafarana. I came to be interested in MABR out of an interest in Zafarana but finding I was too late to invest in that. That project is still not completed and looking at current estimates find it difficult believing it will be ready by the second half of 2009 let alone the first. Had it followed projections, perhaps with a month or two delays, I would feel more comfortable about the MABR project.
Have you complete faith that Zafarana will be ready for you in the time currently specified?
Adding to the above, I was told when I signed for MABR a few months ago that the build would begin, a bit later than originally specified, in June. I now find I have to complete contractual arrangments and it is still not begun, the earliest I am told is end of August/early September; so I need to sign on faith that the latest information given by IPI is correct, when it was not before, will it change again (as Zafarana) - not confidence building.
I believe about 60% of MABR Part 1 is 'sold' so wonder if that may affect build - are monies collected sufficient to progress the build according to an existing plan or not and will sales influence future dates and committments to purchasers - the impression I had been given by brokers when I first registered and paid deposit was that MABR part 1 was almost sold out.
Although IPI may be highly trustworthy, and I have no reason to think otherwise, the lack of solid information and certain safeguards is disconcerting; had the build started, had it almost sold out, was the escrow account guaranteed by a major independent institution, were all contracts that same (if as some say they are not), was due diligence able to provide greater advice on IPI financial circumstances (especially with Zafarana under way and possibly taking a heavy committment from IPI), were there other successfully completed IPI projects to base success on - theses things would assist us all to move forward, they seem to drive the current discussion here; not that people are dissenting, as I am sure that like me they wish to see a successful MABR (and like Zafarana it would be a credit to IPI as they are large exciting projects in a most beautiful part of the world) but there are genuine concerns due to issues such as those above especially for people like me who are starting on the purchase road.
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