Brazil Development Disappeared- Help Please!

[PAUL-brasil]

Does anyone know what happened to the huge development which started 20 months ago in Sao Miguel Do Gostoso which is in very north in Rio Grande do Norte about 10mins drive further north of Toures and about 1hr 45 from the current airport?? It was a large beach side development and very upper class layout and onsite facilities and was been developed by a company called Pedra D' Lua, when i viewed it, work had started with the foundations being built on the first view villas at the front, but a long while ago the website had disappeared with the website never advancing the development being built more, before hand. When i was with talks with the developer they showed that about 40% had been bought/reserved but were offering me good discounts if i payed a good deposit there and then. So does anyone know what happened to the development and the investors????

[deedee1]

Hi Paul,

Not sure?

But I decided to move the post and create its own thread for you to see if we can get any responses??

Take care-D

[JMBroad]

If you are talking about the Pedra d'Santo Cristo Resort, in Monte Alegre, Touros, they weren't complying with their ecological obligations and therefore the development was embargoed by the Justice Dept. Basically sounds like they started by chopping down centenary trees and got caught doing it.

Allegedly involved/responsible were Portuguese group Pedra D'Lua and consultants Fernandes & Nogueira, or at least according to the records of the SIL 2004 where they were promoting it.

No idea what happened to the investors or the group developing it, I'll see if I can find out.

[PAUL-brasil]

Originally Posted by JMBroad

If you are talking about the Pedra d'Santo Cristo Resort, in Monte Alegre, Touros, they weren't complying with their ecological obligations and therefore the development was embargoed by the Justice Dept. Basically sounds like they started by chopping down centenary trees and got caught doing it.

Allegedly involved/responsible were Portuguese group Pedra D'Lua and consultants Fernandes & Nogueira, or at least according to the records of the SIL 2004 where they were promoting it.

No idea what happened to the investors or the group developing it, I'll see if I can find out.

Thank for feeding my curiousity, i thought as much and sounds correct what you say. I also know of a few more developments like this what had actually started work then strangley disappeared. So was using Pedra D'Lua even more as a example for warning. Like ive said before since ive been monitoring Brazil myself (not through the eyes of a sales man) now for over 2 years or so I can see better how the true market is and even more the risks with off plans.
Regards
Paul

[PAUL-brasil]

Originally Posted by deedee1

Hi Paul,

Not sure?

But I decided to move the post and create its own thread for you to see if we can get any responses??

Take care-D

Hi DD
Thanks for that, but it was meant it in the correct Thread Resales vs Offplans as another example of risk against Offplans!
Regards
Paul