debzor
New Member
Chalk & cheese - being in the Brazil thread I meant Brazil...!Try developers in Dubai, Ajman, Rak and Abu Dhabi
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JMBroad
New Member
I know but couldn't resistChalk & cheese - being in the Brazil thread I meant Brazil...!
debzor
New Member
We could call this the Manchester City syndrome!I know but couldn't resist
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JMBroad
New Member
You lost me there.We could call this the Manchester City syndrome!
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Mineiro
Member
LOL, Dave .Another thing that could backfire on them (the developer) is their office space. I mean this is THE most high-tech building in Brazil. Fort Knox is easier to get into. And the building has a strict dress code!
Not only do you pay R$5 to park in their car park (to get into their offices),you have to have your photo taken and be given a special badge - if you remember to bring ID. No ID no entry. Then you have to indicate which office you want, on which floor. After you swipe your badge at one of several fancy electronic turnstiles, a display tells you which of several lifts has been designated for your personal use, and will only go to that floor. Repeat the process to get out.
Given that the groung floor foyer is about the size of a football pitch (well, a small one),and that there are only 2 receptionists and half a dozen security guards amongst all the plate glass, stainless steel, statues, floral displays, fancy A/C vents, etc, it is not surprising that each floor rents at R$50,000 per month.
The question is - are potential investors going to be happy that (at least) some of their money is going to pay for this... Does anyone know of similar displays of apparent unlimited wealth from developers?[/QUOTE]
Why would they build" the most high tech building in Brazil" in Recife?
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robh
Administrator
Staff member
Premium Member
LOL, Dave .Another thing that could backfire on them (the developer) is their office space. I mean this is THE most high-tech building in Brazil. Fort Knox is easier to get into. And the building has a strict dress code!
Not only do you pay R$5 to park in their car park (to get into their offices),you have to have your photo taken and be given a special badge - if you remember to bring ID. No ID no entry. Then you have to indicate which office you want, on which floor. After you swipe your badge at one of several fancy electronic turnstiles, a display tells you which of several lifts has been designated for your personal use, and will only go to that floor. Repeat the process to get out.
Given that the groung floor foyer is about the size of a football pitch (well, a small one),and that there are only 2 receptionists and half a dozen security guards amongst all the plate glass, stainless steel, statues, floral displays, fancy A/C vents, etc, it is not surprising that each floor rents at R$50,000 per month.
The question is - are potential investors going to be happy that (at least) some of their money is going to pay for this... Does anyone know of similar displays of apparent unlimited wealth from developers?[/QUOTE]
Debzor,
Didn't you say that they only rent a quarter of a floor? This would equal about 5k€ p.m. which isn't too hard to spend on an office in Spain so I doubt the developers think this is an exorbitant amount of money.
Regards,
Rob.
D
Dotty
Banned
Keeping Up Appearances...............
debzor
New Member
To try and answer all questions...
Manchester City has just been bought by an oil rich sheikh, who is simply throwing money at new players without any thought of financial returns, just trophies...
The guy owns that building I think sold Hiper to Wal-mart a few years ago, and he lives in Recife and obviously believes he can make it pay there. Whether he can or not is probably irrelevant given his wealth...
I only estimate the developer occupies a quarter of a floor, and I agree, while the rents in a global sense are not immense, for a Brazilian development in Brazil...
And yes, I am certain that image is the goal here.
Manchester City has just been bought by an oil rich sheikh, who is simply throwing money at new players without any thought of financial returns, just trophies...
The guy owns that building I think sold Hiper to Wal-mart a few years ago, and he lives in Recife and obviously believes he can make it pay there. Whether he can or not is probably irrelevant given his wealth...
I only estimate the developer occupies a quarter of a floor, and I agree, while the rents in a global sense are not immense, for a Brazilian development in Brazil...
And yes, I am certain that image is the goal here.
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Imd
New Member
Hi to all, I'm newbie om this forum.
question to Sharkboy and emanon.
Are you book your units? I was on the waiting list too and now reserved one apartment.
But I'm still not sure in this developer and did not receive the contracts yet.
Do you have new information about this development (not from dream resorts)?
Thanks
question to Sharkboy and emanon.
Are you book your units? I was on the waiting list too and now reserved one apartment.
But I'm still not sure in this developer and did not receive the contracts yet.
Do you have new information about this development (not from dream resorts)?
Thanks
E
emanon
New Member
Hi Imd,
I have decided NOT to proceed in this development. For me, it was pure investment and not lifestyle and therefore I decided not to proceed. I didn't see an easy exit strategy for when the apartments are completed. Given the size of the project (circa 4000 units) and the fact that there will probably be a large number of people wanting to exit at the end of year 4 when the 2nd year guaranteed rental income ends (after the initial 2 year build),it would be too much of a risk.
Also, I was not overjoyed at the location of Sector B that was being offered pre-release. They were not beach-front as I had believed when I put myself on the waiting list.
There have been a few posts on this forum regarding the possible dangers of such large developments and Spanish developers in the current economic climate. I'm sitting this one out - I might kick myself in a few years when they are worth double, who knows?
If you're in it for lifestyle and you get a good INDEPENDENT lawyer to check the contracts and permissions (i.e. not one recommended from the developer/agent) then that will help minimise the risk.
I have decided NOT to proceed in this development. For me, it was pure investment and not lifestyle and therefore I decided not to proceed. I didn't see an easy exit strategy for when the apartments are completed. Given the size of the project (circa 4000 units) and the fact that there will probably be a large number of people wanting to exit at the end of year 4 when the 2nd year guaranteed rental income ends (after the initial 2 year build),it would be too much of a risk.
Also, I was not overjoyed at the location of Sector B that was being offered pre-release. They were not beach-front as I had believed when I put myself on the waiting list.
There have been a few posts on this forum regarding the possible dangers of such large developments and Spanish developers in the current economic climate. I'm sitting this one out - I might kick myself in a few years when they are worth double, who knows?
If you're in it for lifestyle and you get a good INDEPENDENT lawyer to check the contracts and permissions (i.e. not one recommended from the developer/agent) then that will help minimise the risk.
S
sharkboy
New Member
Im OUT as above in point 2. Sector choice not beach front. (only investment making money year in year out)
This is lagging out too.
I hope im kicking myself.
I awaiting refund from dreamresorts for my holding fee etc.
This is lagging out too.
I hope im kicking myself.
I awaiting refund from dreamresorts for my holding fee etc.
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Imd
New Member
Hi emanon
Thank you very much for detailed answer.
You are not alone in your decision. At the moment only 42 units were reserved (sold - according informaion from qualta site). The waiting list got 130 persons long (according dreamresorts information). Also developer don’t get all licences yet.
I’m in this project for lifestile coupled with investment
At this time I have desided to proceed in it. But I don’t like the draft contracts from dreamresorts and don’t agree with some conditions of this contracts. Unfortunaly at present time I dont get a good lawyer in order to check contracts. I hope to find him shortly. Could you recommend such independent lawyer?
Thanks
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JMBroad
New Member
Could either of you give me a link to their website?
As for legal advice - Imd where are you based? I'd suggest getting one who speaks your own language if possible but who has experience in the market.
As for legal advice - Imd where are you based? I'd suggest getting one who speaks your own language if possible but who has experience in the market.
debzor
New Member
Hi emanon
Thank you very much for detailed answer.
You are not alone in your decision. At the moment only 42 units were reserved (sold - according informaion from qualta site). The waiting list got 130 persons long (according dreamresorts information). Also developer don’t get all licences yet.
I’m in this project for lifestile coupled with investment
At this time I have desided to proceed in it. But I don’t like the draft contracts from dreamresorts and don’t agree with some conditions of this contracts. Unfortunaly at present time I dont get a good lawyer in order to check contracts. I hope to find him shortly. Could you recommend such independent lawyer?
Thanks
If you want to make contact with a good independent lawyer who speaks perfect English, based in Recife where Qualta are, pm me.
debzor
New Member
Investment Property For Sale in Brazil | The Reef Club don't know about Dream Resorts
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JMBroad
New Member
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Imd
New Member
Thanks. I can not send private message and post email address here. Could you give me your email address and I'll answer you.
Thanks a lot. I sent the email to you address from the 1st page of this topic
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Joachim
New Member
Reef Club
Stunning location it seems, looking at the photos and on Google Earth, very spectacular but the masterplan and architecture is not to my taste at all for such a prime location.
They should have let the golf course have at least one hole on the beach like pebble beach (even trancoso has this) and architecture associated to real tropical resorts like Six Senses etc.
Just my humble opinion. It could be a good investment if the price is right and everything is secure. I know that Qualta Resorts have a small office in Natal as well, they are designing a resort near Pipa. Although its all very preliminary.
Stunning location it seems, looking at the photos and on Google Earth, very spectacular but the masterplan and architecture is not to my taste at all for such a prime location.
They should have let the golf course have at least one hole on the beach like pebble beach (even trancoso has this) and architecture associated to real tropical resorts like Six Senses etc.
Just my humble opinion. It could be a good investment if the price is right and everything is secure. I know that Qualta Resorts have a small office in Natal as well, they are designing a resort near Pipa. Although its all very preliminary.
E
emanon
New Member
Dream ResortsBrazil Property, Brazil Real Estate, Natal propertyThanks Deb,
I know Qalta, was wondering about DR, I should have been more specific
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Imd
New Member
Hi to all potential buyers of the Reef Club who were in Dream Resorts Waiting List and have signed the reservation agreement.
It will be good to discuss the Qualta's draft contracts together.
Please email me to imd02008 @ gmail . com (no blanks) if you are interesting in.
Thanks
It will be good to discuss the Qualta's draft contracts together.
Please email me to imd02008 @ gmail . com (no blanks) if you are interesting in.
Thanks
