I Have friends over there and they assure me that they are working flat out to finish block D for xmas.
i dont for one miute think you are standing up for turnvest
and always appreciate your comments when you come back
we get nothing from turinvest
i for one for swap d to c tomorrow but dont envisage it happening
Interesting comment about the Management Company. I raised this about 2 years ago that even when we have the apartments, we’ll have to deal with this thing called the ‘management company’.
Might be worth getting some contact details for Robert as if he’s in a business closely associated with this type of thing (plus on site a lot of the time) and he’s having a few questions, then I ask what challenges and (problems) will be presented to the rest of us?
Mike & Louise
Hello Mike, Robert and i am sure many others have been instrumental in getting rid of Saldo who were part of Turinvest. The VP attended the meeting where they finally succeeded and his face was a picture when he realised they were out. His advice to me was attend as many management meetings as possible. He is now i think in semi retirement.
As always solid inputs – many thanks – let’s hope when those of us in Block D get to that stage we can also have a postal vote option. I do not want a small local group forming a ‘gang’ with the management company and voting things in or cash out of my pocket unless I get a vote on the subject.
Keep on enjoying the apartment, we think about what may one day become ours most of the time .
Mike & Louise
Thanks Mike, have you another visit planned ? We are looking at either Jan or Feb, then March , then June. After that probably Nov again. Would be nice to meet up again for a few drinks. The other Jon leaves on Wednesday for a week. Must be 2 years since he was last out there. He is taking the family with him.
Originally posted by one john
Hello Typical, i am not suggesting that the method of funding for D is from sales of C apartments and so on but had not realised just how much money was still outstanding from Block C investers. There will be some people whose circumstances have changed dramatically since they bought on C and may not be now in a position to complete. Some owners are just not responding to Turinvests requests for completion.This position will have to be brought to a head before too long and i can forsee apartments being ” snatched back ” by Turinvest and resold if possible. This might give D or E investers a chance to transfer. This is of course only my personal opinion. I am glad you are going out yourself as you can get a better feeling for the situation if there.Chez , i dont think you will lose you money unless the crisis in the Euro Zone forces Steffania Group under. I hate to think that when i post on here that people may think i am standing up for Turinvest after the way we all have been treated over the years but i am just giving a personal opinion.Lets face it if monies from sales in earlier blocks had not been sent, allegedly,back to Italy instead of ploughing it into further construction they would not be in the mess they are in now ! Cannot tell you much about Robert , i had seen him on previous visits but had not been introduced to him till this time. He is on B and takes an active part in lobbying the Management Company.All i can say is he is well travelled , conversant with the situation on Djadsal and a pleasure to talk to.
hi john i am so happy to find this forum I telephoned my solicitor yesterday who is dealing with our purchase of an apartment in Block D she was unable to reassure me she confirmed that work has stopped and turnivest are not responding to them she agreed with me that things are not looking good and should turnivest go under (this could be a distinct possibility bearing in mind the state of italian economy and the euro) the bank would repossess the land and we would lose our money, i am quite a positive person but this situation is truly testing me, i wish there was some way of communicating with all the other purchasers and for a change we could maybe be proactive rather than sitting here feeling helpless, any ideas of ways forward gladly received
Hello t deighton, yes it is reassuring when you find this website and realise you are not alone. If you go back through the posts on this forum you will see a pattern emerge. Turinvest do a bit then run out of money, this is nothing new.The crisis in the Eurozone is a new and worrying factor but at the end of the day there is nothing that the man in the street can do about it.Even if by some means you managed to get a large action group together the fact is they are skint again, they cannot even fix a broken door lock in block B. During my meeting with them Antonio said that at last they could see light at the end of the tunnel. What he meant by that i do not know. We have been through many tunnels on this journey. All of us who post on here have been over the last few years through the whole spectrum of emotions from anger and rage to apathy. Now and again they seem to go deaf , i dont know why but it wont last forever. A couple of questions if you feel able to reply, where are you based and have you been out to visit Djadsal ? Wish i could say to you that everything will be alright in the long run and we can have a beer on your balcony when its finished and laugh about all this hassle and worry that we had but i cant. Will be out again soon and will post any developments on my return. Others will be out before me and i am sure they will report on here as well. Lastly beware of rumours as they are rife, just deal in facts regarding Djadsal.
Not sure when we’ll be out again. I had asked (several times) Christina about the second week in the Crioula. She never got back to me.
We’d like (and previously had asked) to fit the week around the completion date, such that we could snag and hand-over.
We are holding-off until we get a reliable date…..we may be some time, along with the rest of Block D.
Mike & Louise
Thanks for the reply Mike, let us know if you change your mind and go out before completion.typicalMember
Hi and welcome to the forum. I am grateful to john for replying to you and i think we all need a few more John,jeans and snedds on this forum to stop us all going frantic with worry. I am sure your up to speed on the problems with D and I and no doubt many others on this forum are getting it in the neck-big time over our choice of the Djadsal. I do honestly believe it may all end up happily but absolutely agree it will go to the wire and I wish this experience on no one. My reasons for my optimism are not pharmaceutical but one of practicability and I am only guessing here and I have no inside track or tip into what may be going on with Turinvest.
I believe Turinvest own more land on sal than the government. I understand (through old e-mails and promo DVDs) they have acres of land behind the Djadsal enough to build a water park and 8 more blocks and a entire village. They own land in the north and on the beach. They own the criuola and have interests in boa vista and Santiago. They have a brewery and a ongoing obligation towards devolopement in cape verde supported I believe by the government. They also have interest in air and sea transport on the island. In short they have a few quid. Quite how and what they own the banks is a mystery-remember Turinvest is only an arm of the stephania group and I believe an asset rich one. If Stephania goes it does not follow Turinvest falls. Indeed, we have seen how the courts and banks work in cape verde. I have no doubt the process of winding up could take years. (not good but helpful for a recovery)
Our lawyer and I assume you have the same one is hopeless. I don’t believ they have a clue and what was a good earner for them has turned into a legal nitemare but they cannot walkway they have a professional duty to protect our interest and have largely ignored us. This also is an avenue for us.
I suggest constant chasing with Turinvest and getting our lawyers to insist on writing us an advice and for them to organise regular monthly meeting with Turinvest and produce minutes of those meetings to let us know what the hell is going on. If we all write to our lawyers they have a duty to respond. We just need to push much harder in 2012. I do not think Turinvest will go under they are simply going to sleep. Let’s wake them up.
Glad to see you Chez, i was getting a bit lonely.imported_anonymousMember
thank you one john for replying and sorry i didn’t get back sooner the last time we were in cape verde is 4 years ago when we purchased the property but my parents were out last year and updated us with some photos i think the truth is we have been hiding our head in the sand and hoping things were going to work out ok sadly this experience has left me loath to visit cape verde until i know we are going to receive the keys and i think our annual holiday would be ruined by lookin at an unfinished buildinig
ihave read through previous posts and we were also offered a new contract whereby we would receive a paltry sum of compensation we also decided not to sign even in our limited exprience this was not in our best interest NNR had already had an extra £200 when we signed a contract moving us from E to D and again they seemed to be the only ones benefiting
but thank you all for the positive feedback and we will attempt to optimistic (glass half full) or should i say apartment (half built)
Thanks for your reply. Will as usual be keeping my fingers crossed for all Block D people .
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