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