EcoHouse, developer of social housing investments in Brazil which sold to more than 700 individual property investment to Singaporeans over the last two years, has started paying outstanding 20 percent cheques to those of its clients who signed ‘Deeds of Modification’ just prior to Christmas.
In its latest newsletter the company said: “This is a very positive milestone and EcoHouse is brimming with excitement and confidence.
“In addition, we can report that workers are actively on site catching up with delays. We can confidently confirm that the first phases of Bosque and Casanova are back on track for imminent completion. All construction materials have been bought and paid for using investor funds, as stipulated, and visible on the pictures on our website.”
The company also said that its further projects will be completed shortly as it has secured state-of-the-art construction materials and methods approved by Caixa Economica and Banco do Brazil which will considerably speed up construction on current and future phases.
“We have been working hard over the past few months to take EcoHouse national across Brazil and we are overjoyed that we will be launching our first national project in the near future. We will be able to implement our new construction method and materials on all future phases of EcoHouse projects within 60 days, and are already training our construction teams on how to utilise these new methods.”
Anthony Armstrong Emery, Chief Executive Officer of EcoHouse, addressing his investors, said: “Our construction teams on site are working hard to deliver units as quickly as possible. We are clearing all payments pledged with the Deeds of Modification and we have made enormous strides in terms of new and faster construction methods as well as our national expansion which will take EcoHouse to the next level and continue our growth.“
“Like in any business there are circumstances beyond our control which unduly influence even the best laid plans, but with courage and steadfast determination we have managed to find solutions to ensure our and your continued success.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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