Palma Do Mar Construction

Discussion in 'Brazil Property' started by rkinvestor, Mar 13, 2009.

  1. rkinvestor

    rkinvestor New Member

    I was just wondering, does anybody know if the construction of Oasis Do Mar/Palma Do Mar in Jacume, Joao Pessoa has started?

  2. robh

    robh Administrator Staff Member Premium Member

    I heard no....
  3. debzor

    debzor New Member

    This is from a friend who lives in JP:

    not yet, the owners intend to build the sales office, wall and first infrastructure in the next 60 days, but they are struggling to find a constructor who doesn't want Gringo prices, greedy *******s!
  4. petev

    petev New Member

    Palma do Mar planning permission takes time

    Gringo prices or
    I think the same anyway as I said planning takes time and struggling some years more and building we will seee...:cool:
  5. Hi All

    Palma Do Mar is due to start short and will have all the infastructure in place for start of 2010 - eg roads, power etc. They have launched new deals on this project.
  6. petev

    petev New Member

    Have Steve Naish from Greenland securities promises that

  7. Yes he has, they are just sorting out the sub contractor to start work on the plots and Oasis Do Mar with completion for September 2010 for the whole site
  8. rkinvestor

    rkinvestor New Member

    Anyone with an update on Palma Do Mar construction? Did they start the building the infrastructure?
  9. mamanguapemamma

    mamanguapemamma New Member

    Drove through/past/round that area about 4 weeks ago - nothing happening as far as I can see - will try to go back out that way again next week and will report back - dont live too far away.
  10. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    We asked friends to check it out, and apparently still nothing moving there.
    They now have to compete with the Tabatinga Country Club.
    Can you imagine, 2000+ tiny plots of land, at least 20 minutes walking from the nearest beach?
    They'll be lucky when the promised Social Facilities are ready by 2014.

    Does anyone have any other info?
  11. debzor

    debzor New Member

    I went past the 'do Mar' developments the other week, and there appeared to be nothing at all happening. Rob's link may well explain why!

    Also visited Tambaba Country Club... even less going on! Impressive entrance gateway and walls facing the street, but absolutely nothing inside. I was very surprised as all websites I researched gave the impression that construction was well under way.

    I think they must all be computer generated graphics or artwork, as there is nothing but barren land - not a single building or road in sight anywhere.
    Last edited: Sep 13, 2011
  12. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    I agree, Rob - it is probably a lot MORE than those few 500 Million.
    Oh dear, all those online agents must be getting worried.
  13. debzor

    debzor New Member

    Rob, how did you find this story?

    Do you spend Saturday afternoons in Brazil scouring the English language press for the next day's headlines?!!

    However you came across it, this has to be the scoop of the year - assuming it is true - and will certainly create waves in JP. (Sorry, is already creating waves in JP...!!)
  14. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    Yep, they started SHORT :D :D :D
  15. rkinvestor

    rkinvestor New Member

    Talked to Steve Nash and he mentioned that Green Land Securities are no longer heading this project and they are finding a new company.

    Construction has started but will be delayed for few weeks to sort this out. He also mentioned, some investors have started building villas...

    Not sure how truth is this story...Any other update would help
  16. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    Well let's hope not. When they are owned by GreedLand, the Tax People might confiscate it. Assuming that at least some of this Sunday World - investigating and reporting on Irish Crime story is true ....

    With many thousands of small plots available, all quite a few miles away from the beach, it may take 10 years before any appreciation can be seen on these away-from-the-beach plots.
  17. voyager

    voyager New Member

    Hi, I have just joined this forum today, essentially to post my question. My partner is one of the many unfortunate investors who had invested in plots at Palma do mar – (currently all infrastructure work is on hold pending money laundering investigations re Greenland securities).
    He has recently been contacted by a law firm in Brazil – Peixoto. They have advised that he hire them to file a court action to receive a refund of the money invested, plus interest and monetary restatement (whatever that means!). They have advised that the case can take up to 2 years if not more.
    I am wondering what to do. The fee they are quoting is fairly high $4000 (to be paid upfront) and then a further 20% of the monetary benefits that he may receive as a result of the court action. We are inclined to do nothing as we can’t see how the Brazilian courts will be able to award any compensation from assets that are currently frozen. However as we both are very inexperienced in cases like these I was wondering if anyone has any advice or experience they can share.
    Many thanks
  18. growler

    growler New Member

    The Lawyers in Brazil are always happy to "get your money back" for a good amount of money, especially when dealing with foreigners.

    The legal system works very slowly and it could easily take 2 - 3 years but if there is an issue with money laundering, who knows?

    It doesn't sound as though there are any assets available so getting money back is going to be near on impossible.

    That is my opinion based on what I have read only so who knows?
  19. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    Both Manzanares and Peixoto were involved in the Palma Do Mar debacle, and therefore can never be objective. My advise is to find a lawyer that has no links with either Mr. Naish (who, according to the Due Diligence Report, bought Palma do Mar in 2008), Palma Do Mar or Greed Land.
    Last edited: Sep 7, 2011
  20. penelopy

    penelopy New Member

    I wonder why..happens quite a lot on this forum .You are supposed to just smile and say that`s ok!!

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