Hi Everyone,
I have been informed last night that the May 2014 date that was communicated in August is now not going to be met. I have asked IMG for a full explanation as I am very unhappy about this.
We all expected another delay, though, did we not? Both you and Mahogany seemed quite certain of this when we spoke in the past. I have gotten in touch with some people who live in Natal, and they have visited the construction site and told me that construction work is carried out. In the past, I was not fully aware of how the 2014 FIFA World Cup and 2016 Summer Olympics have impacted the construction sector in Brazil, both when it comes to government-sanctioned construction projects, such as the new airport in Natal and all the arenas being constructed, but also private sector construction projects. Many of the big government construction projects have also been delayed.
For this reason, I think the best thing to do now is to wait. The new statistics for the Brazilian housing market is coming soon, and there is every indication that prices will continue to increase as they have done to this point. Major events like the World Cup and Summer Olympics have a tendency to disrupt things, but there is also the possibility that they will contribute to rising prices in the long-term. If I'm not mistaken, this is what happened in South Africa after the Olympics there, even though it took some time for the price rise to happen. Once again, this latest turn of events is unfortunate, but it is not uncommon in Brazil.