banana residential club

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byadav

New Member
Anybody thinking of pulling out of their reservation, could you put the villa numbers you reserved up on the forum (not if you´ve gone to contract). There are a few people sniffing around for the prime units - either East facing in Q1 & Q3 or end units on Q2.

With the jobs that the oil refinery is going to bring and the lack of adequate accommodation in Cumbuco, this project is going to turn into a good investment rather than just being a lifestyle purchase.

Also, just spoke with M4A and they are NOT washing their hands of the project. If you are an individual who has got fed up waiting for the development to spring to life and want to walk away from your €25.000 instant profit, please let us know which villa(s) you reserved and give somebody else a chance!

Thanks,

Andy
Andy,

You are indeed a brave man. I have gone to contract & stand to lose nearly GBP 25000!!!! The developer maybe proposing to have the plot put in my name (& refund the difference),the plot being Lot 11, Q2. If this is the case, you are more than welcome to buy the plot from me.
 
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June matthews

New Member
Washed our hands

MADE for Agents, do not wash our hands of problems, if we have them we are quite happy to address and try to solve any problems we have.

MADE for Agents, works directly with developers, and agents, and we therefore have the understanding and the knowledge of all the developments we offer. We are not lawyers and cannot offer legal advice. This is what we have told the client, but we have given him all the contacts he requires to persue this. We have not washed our hands, we simply cannot give legal advice. And I think that is a fair comment to make.

Unfortunately the original developer for Banana Club has not been able to fulfill their obligations and 4 clients who have purchased from them have been advised, and legal proceedings are in place.

Banana has now been purchased by a new developer who is happy to accept the sales at last years price, forfieting the profit he could now make on this. This development has increased in value by 60%, something the current purchasers will be able to enjoy. These clients will be contacted within the next 2 weeks, when the contract has been issued.

Since Banana was brought to the market, the Brazilian Government are constructing a new Oil refinery, Banana is 25kms away and is the closest executive estate to the refinery. This will undoubtedly increase the value once again, and be a very much sought after for rentals, demanding a high return. So good news for clients.

I appreciate that Banana has been fraught with problems, but I have seen it, and know without a doubt that this development is superb.

i am not yet an active member and cannot write in my email, but you can reach me through our com website.

I look forward to hearing from any clients who want an honest opinion and reply.
June Matthews
 
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June matthews

New Member
MADE for Agents, do not wash our hands of problems, if we have them we are quite happy to address and try to solve any problems we have.

MADE for Agents, works directly with developers, and agents, and we therefore have the understanding and the knowledge and understanding of all the developments we offer. We are not lawyers and cannot offer legal advice. This is what we have told the client, but we have given him all the contacts he requires to persue this. We have not washed our hands, we simply cannot give legal advice. And I think that is a fair comment to make.

Unfortunately the original developer for Banana Club has not been able to fulfill their obligations and 4 clients who have purchased from them have been advised, and legal proceedings are in place.

Banana has now been purchased by a new developer who is happy to accept the sales at last years price, forfieting the profit he could now make on this. This development has increased in value by 60%, something the current purchasers will be able to enjoy. These clients will be contacted within the next 2 weeks, when the contract has been is.sued

Since Banana was brought to the market, the Brazilian Government are constructing a new Oil refinery, Banana is 25kms away and is the closest executive estate to the refinery. This will undoubtedly increase the value once again, and be a very much sought after for rentals, demanding a high return. So good news for clients.

I appreciate that Banana has been fraught with problems, but I have seen it, and know without a doubt that this development is superb.

i am not yet an active member and cannot write in my email, but you can reach me through our com website.

I look forward to hearing from any clients who want an honest opinion and reply.
June Matthews
 
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Londonerinlove

New Member
Re:Banana Cub

MADE for Agents, do not wash our hands of problems, if we have them we are quite happy to address and try to solve any problems we have.

MADE for Agents, works directly with developers, and agents, and we therefore have the understanding and the knowledge and understanding of all the developments we offer. We are not lawyers and cannot offer legal advice. This is what we have told the client, but we have given him all the contacts he requires to persue this. We have not washed our hands, we simply cannot give legal advice. And I think that is a fair comment to make.

Unfortunately the original developer for Banana Club has not been able to fulfill their obligations and 4 clients who have purchased from them have been advised, and legal proceedings are in place.

Banana has now been purchased by a new developer who is happy to accept the sales at last years price, forfieting the profit he could now make on this. This development has increased in value by 60%, something the current purchasers will be able to enjoy. These clients will be contacted within the next 2 weeks, when the contract has been is.sued

Since Banana was brought to the market, the Brazilian Government are constructing a new Oil refinery, Banana is 25kms away and is the closest executive estate to the refinery. This will undoubtedly increase the value once again, and be a very much sought after for rentals, demanding a high return. So good news for clients.

I appreciate that Banana has been fraught with problems, but I have seen it, and know without a doubt that this development is superb.

i am not yet an active member and cannot write in my email, but you can reach me through our com website.

I look forward to hearing from any clients who want an honest opinion and reply.
June Matthews

Dear June,
Yes we have been having honest opinions from the Agents and the Lawyers so far . See what we are in for now.My only advise to new people who dosen't want to loose any money is to keep miles away from Banana Club and as for that matter any off plan projects in Brazil. Infact , couple of my Brazilian friends in Fortaleza were warning me to keep away from this project from day one. Being a foreigner , we trust everyone and hope everything would go smoothly . Well I dare say how right they were.
If anybody is interested in loosing their fortune, please contact June Matthews for advice.

From ,
Londonerinlove
 
B

byadav

New Member
Dear June,
Yes we have been having honest opinions from the Agents and the Lawyers so far . See what we are in for now.My only advise to new people who dosen't want to loose any money is to keep miles away from Banana Club and as for that matter any off plan projects in Brazil. Infact , couple of my Brazilian friends in Fortaleza were warning me to keep away from this project from day one. Being a foreigner , we trust everyone and hope everything would go smoothly . Well I dare say how right they were.
If anybody is interested in loosing their fortune, please contact June Matthews for advice.

From ,
Londonerinlove
Dear Londonerinlove,

Hear, hear!! I totally agree.

June - I really cannot believe that you are still trying to promote this development knowing full well there are 7 existing purchasers who have gone to contract and who stand to lose nearly GBP 25000!!!!!!!!!- totally irresponsible!!!!!!!!!
 
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June matthews

New Member
I do understand, and if you are in touch with us directly you will know that we have given you all the contact details of the people who can help you.

The original developer for Banana has run into difficulties and are not able to build, however lawyers and contacts are available to help clients pursue their claim. At this time, the developers are trying to solve the problem. Yes it does take time, but it doesn't mean that all is lost. In the UK when a company folds, you become a creditor, I assume the same thing happens in Brazil, but I do not know, and that is why you should follow the advice of the lawyer.

New established and reputable builders are to build out the project. This is normal practice to any business, when one company cannot continue, another takes over, it is the way the world works. They have agreed to honour the price clients paid last year. Which still makes this a superb investment for clients. This is NOT irresponsible practice. It is simply business, and is what it always was, a great investment.




Dear Londonerinlove,

Hear, hear!! I totally agree.

June - I really cannot believe that you are still trying to promote this development knowing full well there are 7 existing purchasers who have gone to contract and who stand to lose nearly GBP 25000!!!!!!!!!- totally irresponsible!!!!!!!!!
 
B

byadav

New Member
I do understand, and if you are in touch with us directly you will know that we have given you all the contact details of the people who can help you.

The original developer for Banana has run into difficulties and are not able to build, however lawyers and contacts are available to help clients pursue their claim. At this time, the developers are trying to solve the problem. Yes it does take time, but it doesn't mean that all is lost. In the UK when a company folds, you become a creditor, I assume the same thing happens in Brazil, but I do not know, and that is why you should follow the advice of the lawyer.

New established and reputable builders are to build out the project. This is normal practice to any business, when one company cannot continue, another takes over, it is the way the world works. They have agreed to honour the price clients paid last year. Which still makes this a superb investment for clients. This is NOT irresponsible practice. It is simply business, and is what it always was, a great investment.
June,

I am completely familiar with the ins & outs of insolvency.

The previous/existing developers/builders were supposed to be reputable & look where thats got me.

I am completely confused now - who are these new builders - why can't they build my unit??!!
 
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theadebo

New Member
So the Banana saga continues...

This project has had more twists turns and changes than I care to remember. Some one told me last week that the old problem of resolving exactly who owns the land is still.. well ongoing!? If a project or a location has one major problem, then you´re a brave man that´s not risk adverse to continue to believe in the project. If after almost 3 years, there are still rumours locally, about land ownership issues, the project has been re-purposed twice, sold on twice (or is it three times now?) there isn´t any schedule to begin, never mind finish the build and you are STILL believing in the project? You aren´t a brave man in my books, you´re a bloody idiot!

If you haven´t handed over any cash, don´t, if you have, do everything you can to get it back and then walk away. I always thought the ´Residency¨incarnation of this site was a donkey, so far I have been 100% right.

.....
Banana has now been purchased by a new developer who is happy to accept the sales at last years price, forfieting the profit he could now make on this. This development has increased in value by 60%, something the current purchasers will be able to enjoy. These clients will be contacted within the next 2 weeks, when the contract has been is.sued

Since Banana was brought to the market, the Brazilian Government are constructing a new Oil refinery, Banana is 25kms away and is the closest executive estate to the refinery. This will undoubtedly increase the value once again, and be a very much sought after for rentals, demanding a high return. So good news for clients....

June, I´d be very interested to know on what basis you are making a claim of a 60% rise in value? I live just down the road in Cumbuco, we are prime beach-front property, not some knatty bit of land in the middle of no where, with no resources near-by, and a less than pleasant lagoon to look at, and prices here have been almost stagnant for 18 months. Prime beachfront = stagnant prices, knatty nothing happening plots in the middle of nowhere = 60% increase. I don´t think so!

Secondly, whilst the refinery and other expansions at Pecem port will undoubtedly bring much needed jobs to the area, it´s affect on demand for local executive housing will be minimal, and if you really think that in an area with so much development going on, that there isn´t anything closer to the port than 25kms? Then you´re living not just on another continent but another planet all together!
 
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theadebo

New Member
I hope those of you that have put your money into this project are successful in recouping your cash and I strongly advise the rest of you to avoid stepping on this Banana skin of a project. There are lots of good products, in better locations, being built by reputable companies for you to chose from in this area. Please put your money into one of those, cos you´re going to feel like a right burke if you invest in Banana, knowing it´s myriad of issues, and you end up losing your shirt.
 
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petev

New Member
HI are you investor as me can you tell more

June,

I am completely familiar with the ins & outs of insolvency.

The previous/existing developers/builders were supposed to be reputable & look where thats got me.

I am completely confused now - who are these new builders - why can't they build my unit??!!
I read last week that someone had REPORT abo:confused:ut Banana Resort have you got it
 
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byadav

New Member
I read last week that someone had REPORT abo:confused:ut Banana Resort have you got it
Where did you read this? Are you a fellow investor who is owed money?

I had an email from the developers administrator who confirmed this report has now been prepared and sent to the developer (shareholders). I sent an email to the developer asking when the report would be issued but have heard nothing yet.

Everything has gone extremely silent which is worrying!!!!!!!!
 
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petev

New Member
Mr BYADAV I m very worried too

Where did you read this? Are you a fellow investor who is owed money?

I had an email from the developers administrator who confirmed this report has now been prepared and sent to the developer (shareholders). I sent an email to the developer asking when the report would be issued but have heard nothing yet.

Everything has gone extremely silent which is worrying!!!!!!!!
They have promissed a plot for me have you got any
 
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byadav

New Member
They have promissed a plot for me have you got any
I have paid Homes in Brazil for one but now they are no longer going ahead with the development & running off with my money!!!!!!!!!!!!!!! As such, I have no plot, no money - only high blood pressure!!!!!!!!!!!
 
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petev

New Member
So thats sure no plots ; no money back

I have paid Homes in Brazil for one but now they are no longer going ahead with the development & running off with my money!!!!!!!!!!!!!!! As such, I have no plot, no money - only high blood pressure!!!!!!!!!!!
So NO ONE HAVE GOT THEIR PLOTS AS PROMISSED ; AS I UNDERSTOD TREIR LOYAL mr. RUI FARIAS HAVE REPORTED that investors get their plots anyway ,have some one else heard about that.:confused:
 
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JPM6591

New Member
Banana Residential

Has anyone heard any more of this development.
There is over 15 agents actively marketing it still!
 
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JMBroad

New Member
Are those agents active though? I still see a ton of agencies promoting Lagoa do Coelho, Grupo Sanchez and others - Might be a case of the actual agencies no longer updating their sites
 
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PAUL-brasil

New Member
Still no activity at the Banana site, although there s always a grounds man still there.
 
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JPM6591

New Member
Development update

Had an e-mail from agent stating a new developer has been selected and units have changed in design albeit larger. Seems only 20 villas are being constructed though. This is not confirmed as yet!
Anyone still in this?
 
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JMBroad

New Member
Had an e-mail from agent stating a new developer has been selected and units have changed in design albeit larger. Seems only 20 villas are being constructed though. This is not confirmed as yet!
Anyone still in this?
I think that was stated a few months ago as well - not sure if they changed again or if it's still the new one?
 
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theadebo

New Member
I guess I´ll say it again.

This development has been a complete mess for 3 - 5 years. It has been repurposed, sold, repurposed sold again, jiggled about etc etc etc. People have paid money and received absolutely nothing. It beggars belief that people are still thinking about investing in this complete turkey. DO NOT DO IT! You will either lose money or patience waiting for something to happen.

There are several very good developments in Cumbuco and the rest of the West coast, that are worth investing in. Some are under construction right now, they are not vapourware. If you´re looking to invest this side of Fortaleza and want some hints PM me.

The Fools Residence Club just keeps on uncovering more fools.


ps. Drove past there on Friday... nothing happening as per usual.
 
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