Dear All

 

Following on from another successful visit to the developers’ office last week I am pleased to report the following:-

 

Because of sensitive nature of some of what I have seen and witnessed there are some details which the developers office does not wish to get into the wrong hands. There are still enemies of the project out there who are still trying to damage our project but we continue to move forward silently, making progress day by day. Please believe me when I say that I have seen what I consider to be substantial enough documented evidence to support that the developer is working very hard to achieve our dream in respect of Punta Perla. I remain convinced that we may all enjoy delivery of our properties next year and the developer insists that we will get them by June of 2011.

 

The developer acknowledges and accepts that there have been a number of delays and we (the clients) have been let down on construction deadlines as a result. The developer apologises for these delays but assures us all of being very happy with the final product next June.

 

Investors/Partners

 

I can confirm that the developer has signed an agreement with a huge international organisation that will secure funding for the building out of the whole project. The partner in question is now finalising the last few snippets of due diligence which are a formality and are expected to be completed by the end of May this year.

 

A second partner is also looking to invest heavily in the project which is expected to be signed and sealed by the end of April.

 

Construction - Phases 0, I & II

 

Full scales construction is expected to be underway by the end of May. The developer still maintains that by deploying either two or three 8-hour shifts and the necessary heavy duty plant that he will hit his deadline of June next year.

 

Land Valuation & Security

 

I can confirm having seen legal documentation from the national bank of the Dominican Republic that the parcels of land which make up Punta Perla amount to a valuation of about $1.639 Billion. As the national bank, they have provided what they believe to be a very conservative valuation whereas I was witness to two other valuations made by commercial banks which were $2.4 billion and $2.6 billion.

 

I would remind you that the land has no borrowings, liens, charges or mortgages of any type at all upon it and is owned outright by the developer. All deposits made by UK, Irish and American buyers amount to less than $70 million which represents just over 4% of the land value; meaning that we (clients) are in an extremely strong situation with regard to the security of our invested cash. The developer owns the land we are contracted with the developer. Some people have suggested that he could sell the land and walk off with our money. That idea is both preposterous and illegal and something which the developer would not and could not get away with. If the land were sold then so would the buyers obligation to build out our properties and project as documented in our contracts.

 

Mortgages

 

There are currently at least three commercial banks who are prepared to offer mortgages for properties on Punta Perla., they are:-

 

   1. Banco Popular- 60% LTV (loan to value)- 20 year term - 7.5% interest rate
   2. Scotia Bank - 80% LTV - 30 year term - 7% interest rate
   3. BHD - 80% LTV - 20 year term - 6% interest rate

 

Please note that the above mortgages may well be discounted to even lower interest rates because of the high volume of business which this project will bring to them. There are also a number of other financial institutions who are also keen to offer financing.

 

Law Suits

 

A number of clients on various internet blog sites have suggested forming an action group to look into pursuing the developer through the courts. I would urge these people to consider their actions for these reasons:-

 

   1. I am not convinced that the developer has broken any laws or is in breach of contract
   2. You would be fighting against the force which is trying to make the project which you have invested in progress and succeed.
   3. There are individuals and factions who are intent on trying to unsettle investors by posting complete nonsense upon various  blog sites. These people will be dealt with in the right and legal way and their lies will be brought to justice.

 

As I have previously stated I am not a lawyer and the information contained within this communication is just my opinion.  I do believe that my experience in having worked so closely with Punta Perla since its conception does make my opinion informed and therefore as good as anyone else’s. People who choose to hide behind a false names on blog sites who do not have the balls to stand behind their own names when proffering their opinion  should step aside and stop there mindless peddling of rubbish. On a number of occasions there have been various postings on the Singing Pig among others where people posting have indicated they are investors when they are clearly not. They know who they are and are typically the ones hiding behind false names.

 

Anyway folks, all  that aside, it appears that we are now very close to construction getting underway which will settle the minds of many. As soon as I am able to share anything else with you of any substance I will happily be in touch. Once again, thank you for your patience and I look forward to communicating with you all very soon.

 

Kindest regards

Mark Andrew
Emerging Earth Ltd
12 Eaton Court Road,
Colmworth Business Park,
Eaton Socon,
Cambs
PE19 8ER

 

 

Thank you for your interest in visiting Nicaragua and Gran Pacifica, our 2500 acre resort open and ready for you to enjoy right now. You are receiving this e-mail because you’ve either asked for information about our Chill Weekends, signed up for one of our many newsletters, inquired about golf memberships, or have ordered one of our free Nicaraguan Handbooks on line.

 

Please note that our April Chill Weekend is close at hand, so I’m also sending you the schedule below. If you cannot make it in April, please plan to come in May or June.

 

Attending a Chill Weekend is the best way to experience Gran Pacifica. This experience will help you decide if you’d like to invest or live here. Our Chill Weekends are a great value, so come and have a great time while we show you a slice of life on the Gold Coast of the Pacifica!!

 

Keep reading to learn more about Nicaragua, Gran Pacifica, and our Chill Weekend dates, pricing and agenda...

 

You are among thousands of investors and vacationers interested in the deep-blue water, sandy beaches, and continually warm weather in this delightful Central American country. Whether you are looking for a great investment, or a year round home, Gran Pacifica has much to offer. And, this is a great time to invest.

 

Gran Pacifica started construction only four years ago, and now boasts over 50 residences, including the Las Perlas Condotel, homes, casitas, and more completing each month. This resort, with 3.5 miles of beach, is located one hour west of Managua. You’ll drive through the quaint countryside, with oxen-drawn carts moving slowing at the side of the road. It is not unusual to slow down and let a large herd of local Brahma cattle move across from one pasture to another, driven only by an 8 year old boy with a stick as tall as he is.

 

Once on the property, you’ll find swimming pools, restaurant, horses for rent, a completed golf course (next nine are under construction), and homes and condos going skyward. Bring your own clubs, or rent a set from the golf professional. Enjoy two world-acclaimed surf points on our property, or find yourself on a two mile wide swimming beach, with a more gently rolling wave. Pressurized potable water, high speed internet through fiber optic lines, cobblestone streets, hand-laid Old Chicago style brick sidewalks, streetlights, and storm drains are just a few of the many amenities and services that have been installed for your "creature comforts".

 

If you are seeking somewhere to spend 2 weeks per year, place a property into the rental pool, or come down to live full time (own or rent), Gran Pacifica has it all. Selections of different sizes of homes and condos start in the low $100’s, and luxury penthouse floors or larger custom homes are available up to $500k. All homes are built to North American standards, and include lots of high quality ceramic tile, air conditioned bedrooms, seismic construction standards, hot water to all faucets, and dramatic color selections.

 

For you, our newest clients, Gran Pacifica Resort has developed the Chill Weekends. For only $349/ first person and $166/second person, you can stay in a rustic hotel in Managua the first night, two days and a night at Gran Pacifica Resort, a day trip to Granada and Masaya, then back to Managua for the flight out the next morning This discounted price covers ground transportation, most meals, along with a cocktail party at the sunset bar on Saturday night. Gran Pacifica adds, at no additional charge to you, a local tour of the historic city of Granada, with old world architecture, and a visit to the artisans’ booths in Masaya. There is limited space for the first 12 responses, so act now to reserve you space at one of the upcoming weekends.

 

We are holding Chill Weekends on the following weekends:

 

•    April 16th-19th, 2010
•    May 21st-25th, 2010
•    June 25th-28th, 2010

 

These weekends will begin on a Friday afternoon and end on Monday morning. The Chill Weekend itinerary will include:

 

* Friday: All you need to enter Nicaragua is a valid passport with at least 6 months remaining and a $5 bill, USD. Because most flights come in late in the evening, you’ll be met at the airport by our driver, who’ll take you to a local rustic hotel.

 

* Saturday: After we provide breakfast you take an hour’s drive to the Gran Pacifica Beach and Golf Resort. You’ll learn about the ownership of the property, title work, and have any questions answered about enjoying the lifestyle at Gran Pacifica There will be ample time for questions you might have. After the morning presentation and site tour, lunch will be served. You’ll enjoy playing golf, riding horses, swimming in the ocean or at the pool, and take a look around the Gran Pacifica resort itself. Later in the evening there’ll be a private beach BBQ or other dinner option. No need to make dinner or entertainment reservations that night.. We’ll organize and provide for everything, including a cocktail party and dinner.

 

* Sunday: After breakfast, if interested, you’ll have a chance to learn more about mortgages, financing, and closing processes during an informative session at the resort. Or possibly you may decide to extend your trip and stay for a couple more days (please make these arrangements in advance in order to take advantage of a discount from rack rates).

 

*Alternate Schedules: The above schedules may be adjusted to accommodate either a very small or unusually large group.

 

The best way to reach Nicaragua is to fly to the Augusto Sandino (Managua- MGA) International Airport via Continental, American Airlines, Delta and TACA or Copa Airlines.. The main connecting airport hubs include Houston, Miami, Atlanta and Los Angeles. It takes between 2.5 to 3.5 hours to fly from these hubs to Managua.

 

Although $349/first person and $166/second person is a very low price for your three days in Nicaragua, you certainly have the option to spend more time here at our discounted rates. Just let us know the exact weekend and dates you prefer to stay and we’ll start the process to lock in your reservation at the resort. Also, be sure to let me know if you would like to reserve more nights at the resort. )

 

I look forward to meeting you and sharing my experiences transitioning to Gran Pacifica. I hope to see you here soon!

 

Sincerely,

Kent Payne

 

 

Believe it or not, Karaoke is alive and well at Gran Pacifica.

 

Who would of thought in Nicaragua? The first Karaoke Night was shared by many home owners, residents and guests. Everyone had a blast with with singing "The Oldies but Goodies." Below is Phyllis Haugen and Mel Pyatt singing a duet of "Suspicious Minds" by Elvis.

 

While at PriceSmart last month, I was doing my weekly shopping and low and behold, Karaoke Machines were displayed in the electronics department. I immediately saw the long term fun and entertainment that all the home owners, residents, guests and renters could enjoy.

 

The investment already has paid for itself in fun, happiness and a rock 'n good times enjoyed by all. It was really funny in inviting folks, over.

 

Phyllis and Mel stole the show with their duets

 

They were really good, and the audience wanted encores

 

Tommy and Alyce waiting to take the stage

 

Oh man, how much more of this can I take. My ears hurt

 

Most of them said, "I will come but I sure won?t sing." By the end of the evening, they were all fighting for the microphones.

 

 

Yes, it's been a long road to this point but we are playing golf at PGC.

 

 

Vic Gennari checked into the clubhouse and he played the first round and shot rather well despite a few adventures.

 

The course is maturing nicely although we are still fighting a water problem/pump problem. We'll work through this as we have many other obstacles.

 

Our first tournament was just completed; a charity event for Hope and Development and close to $3000 was raised and donated at the tourney. Two teams tied for low scramble score at 4 under par 70 with all 8 teams within 4 shots. The group of Roger Keeling, Connie Orlandini, Chris Yuko and Evan Dyer won the scorecard play-off with Greg Faust, Ron Bruce, Jack Griffin, and Denise Buckner, and both of the closest to the pins were captured by Jack Griffin.

 

Irrigation

 

New Club House

 

#5

 

#4

 

Congratulations to all and thanks to everyone for the help and participation. Let's make next year even better! Some of our pro shop merchandise has arrived so come in and checkout sporty clothing lines for women and men.

 

Unfortunately, the range balls have not appeared, there's a 1000 dozen out there somewhere waiting to be shipped and the nice new range ball picker is here for just such an occasion. Due to the slight delay in opening the calendar of events at PGC has changed so the following is the latest:

Schedule

 

Jan. 31 Sunday - couples golf 2:00PM 9 holes
Feb. 4 Thursday - Men's Day noon -
Feb. 9 Tuesday - Women's Day time to be anounced
Feb. 11 Thursday - Central American Drinking Cup Tournament
Feb. 14 Sunday - Valentines Day Couples Golf 2:00PM
Feb. 18 Thursday - Men's Day noon- Cigar & Scotch Night
Feb. 23 Tuesday - Women's Day
Feb. 28 Sunday - Couples Night Golf meet at clubhouse 5:30PM
March 4 Thursday - Men's Day noon -
March 9 Tuesday - Women's Day
March 17 Wednesday - St. Patty's Day Couples Event
March 25 Thursday - Men's Day noon -
March 30 Tuesday - Women's Day
April 8 Thursday - Men;s Day noon -
April 11 Sunday - Couples Golf

Watch your email for details on these events and other happenings

 

 

The Tasca on the Ocean restaurant opened in November to rave reviews.

 

 

After an extensive renovation to the restaurant in October, we have been pleased to receive an incredible amount of positive feedback related to the new operations.

 

 

 

 

We hope you will join us in welcoming Tasca General Manager Christian Messarra to the team. As well, be sure you meet the remainder of the Tasca staff, including Chef Johnny, on your next visit to Gran Pacifica.

 

 

In late December we added twelve new residents to the Gran Pacifica property!

 

Please help me in welcoming Sultan, Vanidosa, Paulina, Bella, Espiritu, Coco, Cadet, Copper, Chocolate and Sandy to Gran Pacifica. They are the residents of the new La Vida Nica Stables, located near the maintenance area. Currently, they are in temporary quarters, but plans are being discussed to establish a full.

 

 

 

  

Equestrian Facility on the property. We will keep you posted on the progress of the discussions and let you know if the facilities will move forward.

 

In the meantime, please stop by and visit the horses (they need attention and love). And, if you are really up for a thrill, talk to the La Vida Nica office about scheduling guided horseback tours of the property and sunset beach rides. The rates are low and the fun is large!

 

Finally, please stop by and meet the other two new residents; Martin, our Stable Manager and Trainer, and his trusty sidekick "Winnie", the little white dog who is almost always at his side. Martin also gives riding lessons, which can be scheduled through the La Vida Nica office. So, no excuses! Start riding!

 

 

In life, there is always bad news, but we all strive to make lemonade out of lemons. The bad news is that Dane and Julie Thorwaldson resigned and moved back to the US in December. They will be missed, but we wish them well.

 

Now, we move on to making lemonade. We are pleased to announce that Angie Martin has agreed to become the General Manager of La Vida Nica. Angie will be responsible for all Rental and Property Management at the Las Perlas condominiums, plus the single-family homes that are contracted into the rental pool. Angie brings to La Vida Nica a long history of successful management positions and her incredible knack for simply getting things done and done well. We are thrilled to have Angie, along with her trusty side-kick Gloria Salinas, on the La Vida Nica team.

 

 

 

 

We hope that you will join us soon and personally experience all the fabulous changes that Angie has already instituted.

 

 

In the last couple of months, we have seen significant activity at Milagro del Mar Beach Club. Sales inquiries have actually increased fairly dramatically, and there were two units sold with another unit reserved.

 

Construction of the Main Building has reached the second level and will continue to move forward. The plans have been finalized for the redesign of the site plan, and we are all thrilled with the results.

 

In January, the re-grading of the water way began. Based on the new plans, the new Master Plan for MdM is shown below.

 

 

 

Dear All

 

I am pleased to announce that I had a meeting with the developer this week where I witnessed the letter from their lawyers in the DR confirming ownership of all plots within the boundary of the Punta Perla project. This letter should allay any fears of the security of our money that we have all invested, as the land is now valued at over $2 billion and has no borrowings, mortgage or lien upon it. Not having to pay interest puts our project in an incredibly strong position and makes it very attractive to would be institutional investors. Incidentally at significant cost to the developer, the same letter was stamped by a notary confirming that the document is legitimate and had been checked by an independent body. A copy of this letter will be sent to all investors within the next week.

 

At the same meeting I was privy to seeing the construction schedule of the main works for the building of phases zero and one referred to in a previous news letter from the developer. The project is enormous and the organisation behind the scenes to get us this far is just fantastic. I hope to be able to share much of this with you all very soon.

 

The developers paranoia of not wishing to release information prior to events actually starting is wholly understandable given the delays they have had to endure thus far. There is much envy of a non-Dominican company leading and building out the number one project (as quoted by the new DR Minister for tourism) in the Dominican Republic. We have to avoid any further delays by shielding critical information until it cannot be miss-used in any way.

 

Like everybody else who has invested in Punta Perla, I too have been tearing my hair out with the frustration and the lack of progress, but please rest assured that what has been going on in the background to protect and progress Punta Perla is incredible. I do appreciate that no matter how many superlatives I use to describe my meetings mean very little to you all until there is evidence of our properties and the project being built. With the labour and resources I am told that are at hand that when full scale construction does get underway that things will move very quickly.

 

The plan is for the developer (when I say developer, I mean the development company) to arrange a small number of meetings for existing investors to explain the progress of the project so far and to present what we can all look forward to. It is true that communication from the developer has been far from satisfactory from a public perspective, but believe me there have been reasons for much of what has not been communicated. I am sure that in the next month or so that things will improve dramatically in that area.

 

Once again, on behalf of the developer, thank you all for your patience and I look forward to sharing some more good news with you very soon.

 

Kindest regards
 
Mark Andrew
Emerging Earth Ltd
12 Eaton Court Road,
Colmworth Business Park,
Eaton Socon,
Cambs
PE19 8ER

 

 

Dear Clients

 

Following on from a very successful meeting with the developer and his team two weeks ago, I am pleased to bring you up to speed with progress on the project and expected timelines. The purpose of the meeting was to discuss some rumours that have been circulating on various anonymous blog sites as well as provide you with an update on the project. I was accompanied by an agent and fellow purchaser, Nick Kier who would also testify to being satisfied with the information placed before us at the meeting.

 

I must confirm that neither Nick nor I are lawyers and therefore the information I am about to share is simply my opinion though I can confirm that the developer has advised us that he is prepared to provide signed letters supporting our findings from his lawyers. The law firm which the developer uses in the DR is considered to be one of the best and is in fact headed up by Marco Herrera, the Dominican Minister for Investment.  The letters from the lawyers will be available for inspection only and may not be copied or distributed. Should anyone wish to explore any supporting documentation any further then they may go to the relevant public offices in the DR as the documents are a matter of Public Record.

 

Background

 

Since getting Punta Perla off the ground there have been a number of factions and individuals who have tried to stall, damage and destroy the project for a variety of reasons. These people have and will continue to fail because the developer has refused to go about his business outside of the law and has stuck by doing things legally and the correct way from the start and will continue to do so until conclusion of the whole project.  It is evident right now that these individuals are trying their level best to cast a shadow over the developer and his good name. Any notion of whether the project is a scam or will happen or not should be completely discarded.

 

Let’s face it, if the developer were to run off with our money, surely he would have done it by now and not still be around fighting for and driving the project forward in a manner which will make it the best resort project on the planet. If there was any doubt whatsoever that there was anything of any legal question about the project then surely the authorities would have identified it by now and have put a halt to matters. The President of the country has publicly stated that he considers Punta Perla to be the best project in the DR and has complemented Ricardo Miranda for having stuck by his the project when many would have walked away with all of the challenges he has faced and overcome.

 

Prince Albert II of Monaco is one of the world’s highest profile environmentalists and he continues to support the project because of the significant benefit it will bring to the beautiful Punta Cana coastline as well as the minimal impact the project will have upon the environment. The processes, technologies and building methods employed by Punta Perla will stand as a bench mark moving forward for large construction projects creating a minimal carbon footprint. It is unthinkable that a project as large and important as Punta Perla, with the public backing of its country’s President and that of Prince Albert of Monaco, could be anything but legitimate and in complete compliance with all aspects of design, development and operation.

 

Let me start off by trying to allay some people’s fears or concerns regarding the ownership of the land. We were witness to what we believe to be all of the relevant and correct documentation which supports that the developer owns all of the plots contained within Punta Perla and that there is NO mortgage or lien of any type upon the land.  Should anyone wish to come and see the letter I am expecting to support this from the lawyers, please let me know and I will arrange an appointment.

 

Because of the existence of these people wishing to harm the project, the developers team has had to adopt a very cautious attitude towards management and distribution of information, which is why to date that we have been starved of much meaningful news about the project. This is expected to improve in the very near future, so watch this space as there is some very exciting news coming up.

 

Like everybody, I too have been frustrated with the delays with Punta Perla however remain convinced that we have all invested wisely and can look forward to the benefits of our properties in the course of next year. In some respects, with the current economic climate globally, you could take a view that its delay has actually worked to our benefit. When many tourism based economies have taken a significant tumble in the last two years, the DR continues to grow, which I believe to be down to the beautiful beaches, tropical climate and welcoming people at a fraction of the cost of other “blue chip” islands. It is no secret that the high end tourists who year in, year out have visited the likes of Bermuda, the Bahamas and Barbados are now finding equal standards of accommodation and facilities in the DR for half of the price. The DR continues to attract more tourists every year than any other Caribbean destination.

 

Progress

 

So far we have seen the start of the building of the Beach Club and boutique hotel which is expected to be complete in July of this year. Full construction of phases zero and one is expected to start from March onwards and the developer has assured me that he has the manpower and resource to have completed all of our properties and supporting facilities during the summer of next year. The facilities include the first golf course, marina, retail outlets and many other facilities to be advised shortly. I was assured that all finance is in place to build out the whole project and that there are no borrowings upon the land. There are currently three major international banks that will be offering mortgages upon completion. They are: Santander, BHD and one more to be announced later this month.

 

Once construction is underway I will look forward to sharing a detailed schedule of construction with you all as well as various other snippets to whet you appetites.

 

The developer was also adamant that our properties would all be delivered with supporting facilities next year and that our project will serve as a benchmark for high end resorts the world over. I am also pleased to report that one of our co-investors has just returned from the DR on his honeymoon. The client is Ben Potter and he has set up his own blog site which reports the good, the bad and the ugly by genuine Punta Perla investors and not protagonists pretending to be investors who do nothing but try to damage PP. As well as discussion, there are recent photos of the project. Ben is a technologist who understands websites and blog sites and has put this one  together so that fellow investors may speak frankly and candidly about the project and try to assist its progress rather than hinder. To register with Bens site,  either scan the front page of your purchase contract with your details on or refer Ben to me and I can confirm that you are a fellow purchaser.

 

The web link is:- http://puntaperlaforum.proboards.com/

 

Once again, I would like to take this opportunity on behalf of the developer to thank you for your patience and understanding. I personally am beginning to feel that we can now see the light at the end of what has been a long and dark tunnel. Try to remain positive and in about 18 months or so I am sure that we will all have plenty to celebrate.

 
Mark Andrew
Emerging Earth Ltd
12 Eaton Court Road,
Colmworth Business Park,
Eaton Socon,
Cambs
PE19 8ER