Hi Peko - not sure if you were a buyer on this development or not but probably not because we are in touch with every buyer. We recently hired a customer services representative who is sending out monthly reports to every owner even though the development was delivered a long time ago already.
The vast majority of the houses and plots were delivered within the contractual obligations and therefore on those houses and plots no fines were paid however some houses were delayed quite a bit more than expected in my last update on here. All the houses which were sold have now been delivered (snagging currently being done on the final house).
Although contractually the developer was obliged to pay R$ 1.100,00 per month of delay, we offered clients whose houses were delivered late R$ 1.500,00 per month as a token of appreciation for their patience and understanding. I just got back from the development about 10 minutes ago and some of the residents (who are a local Brazilian family who work in the local schools giving puppet shows with a strong moral to each story) were in the gym training their puppet show techniques for a presentation they are giving this week to a local school.
Upon delivery the developer placed the money required to furnish the leisure areas with the administration company (which is a part of the same group of companies as the developer). The administration company had some issues finding all the finishings which needed to be placed on site (for example, they have now bought three sets of gym equipment from three different suppliers and the gym still isn't fitted out and the first two suppliers are being taken to court). Numerous internet providers were contacted and consistently failed to show up, failed to deliver quotes and failed to deliver once the quotes were approved however the development does finally have wireless internet in every house as well as throughout the leisure area as part of the condominium charges.
The Ofuro (Japanese hot tub) was going to be supplied by a company who in the meantime closed down but I have been told another Ofuro has been found and ordered but has not yet delivered to the spa.
The children and adults swimming pool, the padel court, the tennis court, the football pitch, the volleyball pitch, children's playground and spa (apart from the Ofuro) have been delivered. The games room with pool table, table tennis table and table football have all been delivered and are installed. The restaurant and bar (structure, not manned) has been delivered, as have the two jacuzzi's (one indoor and one outdoor by the pool). The turkish bath and sauna are working and ready to use however to be honest due to the heat I'm not sure anyone has actually got around to using them. The massage tables are in place, curtains around each table and we've sourced a massage and beauty salon who visit the development upon request.
Resales have already been done to Brazilian families on behalf of investors so several people have already made a profit on their investment, not just a paper profit. I personally own three plots on the development - one which is 100% mine and two with an investment partner of mine. Several luxury developments are going up in the immediate surroundings (see "In Mare" by developer Cyrela and "Bosque do Coqueiral" by developer Ecomax). Of course the prices on these developments are far more expensive than on Sonhos do Mar which is not a luxury development. In Mare for example, a 55 m2 apartment is priced at almost three times the price of the Sonhos do Mar 100 m2 houses when comparing R$/m2. Plots at Bosque do Coqueiral are more than double the price of the plots at Sonhos (R$ / m2) and of course the prices at Sonhos have already increased a lot since they were first bought by investors.
The one issue we really are still battling with is that the town hall has not yet paved the road leading to the development and because of some internal political battle going on they won't let us pave it either.
All of the houses which are available to rent (some of the people who bought gave them to us to rent out, some took the rental guarantee and some live on site) are currently rented out. We were initially concerned that the road may affect rental possibility but as mentioned, all the houses we currently have available are rented out. We are still trying to be very creative and find a solution for the road which works for everyone including the local and federal authorities.
As well as the above facilities which were initially planned, we also added in mobile barbecue which wasn't planned, have built a pagoda which will be fitted out with curtains and cushions and mattresses to lounge around on and we are also fitting hammocks to several spots around the leisure area.
We had several investors from overseas who due to the financial crisis pulled out of the development which made things harder than normal with the delivery of this development compared to the developments we have delivered in Natal before however as mentioned:
a) We not only paid our fines for late delivery, we are paying 36% more than contractually obliged to pay, of our own initiative to every client who was delayed every month of the delay.
b) Every investor who ended up not being able to complete due to their own financial problems has applied for a rescission contract and these contracts are being processed so that the clients will receive 70% of their investment back in accordance with our contractual obligations. Some have already been paid, some are in process.
c) The development is delivered, people are getting rental income, rental guarantee income as promised and we are constantly and consistently striving to improve things as best we can on the development for the residents.
Hope that helps satisfy your curiosity however if not feel free to contact us (contact details on our website)
You can see photos of the delivered development here:
IMG - Natal/RN, imobiliária, imóveis, empreendimentos, investimentos, negócios, compra, venda, construção civil, projetos, locação, Ponta Negra
