We thought it was time to pass from the newsletter format to the blog format. In this way we feel that the communication with our clients can be slightly more informal. This is not to say that we want to degrade the quality of this communication. Quite the opposite! We aim to use these pages to keep you informed and as up to date as possible on what is happening to your investment and dream home on the resort of Vila Verde Santa Maria.
On our side, we commit to providing up to date information, comments and opinions and all we ask from you is that you give us your feedback, your questions and, above all, your interest!
Nice blog, thank you!
ReplyDeleteAre tecnicil going to help those who can't get a mortgage to complete or will they lose there deposit and property?
ReplyDeleteAre Tecnicil trying to say that the Newletter was more formal, formal mean in writing to an individual
ReplyDeleteWhat about the delays? Are Tecnicil going to compensate people for the late delivery of their properties?
ReplyDeleteOk my question regarding delays has been posted but when can I expect a reply? We are in one of the first phase 1 releases and have had notification from Tecnicil that first snagging fixes have been completed. Only problem now is that Tecnicil aren't responding to our questions sent via email. Even our snagging representatives haven't had their emails to Tecnicil responded to. Come on Tecnicil be upfront with us! The only communication seems to be requests for money!!!
ReplyDeleteIs Tecnicil fully aware of how many clients are not able now to get a suitable mortgage, the prices have dropped, the development is late,euro is strong, clients will be looking closely at intiating clause 6 1b in the contract, depending on the % this could be disaserous for Tecnicil and clients alike
ReplyDeleteWe are not fully aware, no, because many clients are using different brokers. We are dealing directly with around 150 clients. I do not understand the comment about the "prices have dropped". Regrettably there are some valuations beneath the original sales price, but there are also some that are above this. The majority are or just below the original price. We have pressed the banks for an explanation and they say that this is the "norm" now across banking in Europe.
ReplyDeleteI can tell you that we have more than 500 clients who have indicated that they are going ahead. Some have even said that they are happy that there have been delays because it has given them time to get the funds together.
If you are having difficulty in getting replies please write to itozer@tecnicil.com and explain that you are concerned about communication issues. You will get a reply very qickly.
ReplyDeleteThe compensation for delays will be dealt with on a case by case basis as different clients request different things. However, Tecnicil does intend to comply with the compensation aspects of the contract. Contact us directly and we will be happy to go through your situation with you.
ReplyDeleteNot sure what you mean by the newsletter being more formal or the blog being less formal. By their very nature I believe Blogs are less formal. They offer the possibility of entering into more relaxed communication with everybody. We still have to see if it's a valid format for a Q&A but we are determined to try and open and maintain quality communication with our clients, especially now that some of the agents are not offering their support.
ReplyDeleteWith regards to mortgages, we are helping everyone that we can with their applications and so on. If you have difficulties you can contact Rosemary on mortgages@tecnicil.com and she will be happy to help, try and track your application if necessary and advise on how to best place it if it isn't already.
ReplyDeleteProperty prices have dropped worldwide and Cape Verde is no exception, New builds are being offered at heavily discounted prices with incentives (free furniture, guaranteed exchange rates, air-con etc) This is a known fact. Will Tecnicil offer any of these incentives or will they say that the price is in the contract and that the contracted price is legally binding
ReplyDeleteWill Tecnicil allow 3 bed property owners, that are in the rental pool, to offset the furniture costs against rent received, as has been agreed with stidio, 1 bed and 2 bed some property owners.
ReplyDeletedoes Tecnicil have the funds to pay the deposit back to clients that wish to end their contract due to the lateness of the project?
ReplyDeleteare you aware MRI are contacting clients and telling them you will not complete because you do not have the funds?
ReplyDeleteHow can Tecnicil dictate which clause is on offer for late delivery. It clearly states ' the buyers choice '
ReplyDeleteThere doesnt appear to be many questions on here. Are they being censored? Or has the blog not been publicised to all of your clients. I havent been notified of this blog by Tecnicil.
ReplyDeleteWhen do you think the complex will be ready for rentals? No.... When do you guarantee the complex will be ready for rentals?
ReplyDeleteI do not like hiding under "anonymous". How do i post a question/comment using my name?
ReplyDeleteAt what stage are the 3 communities at that are ready for completion?
ReplyDeleteAre the pools ready?
Are there any amenities for them to use? ie bars/shops.
Can they get from their community to the road and beach?
The questions that are posted here are not censored per se, however, we will not publish questions that are simply abusive or totally non-constructive. As many people post anonymously we can either not allow any anonymous questions or, as we are currently doing, moderate them to ensure a fair level of decorum. I am sure you understand.
ReplyDeleteI would also like to make it clear that the objective of this blog is to provide information and help clients and visitors who are interested in the resort of Vila Verde Santa Maria.
We do not wish for this to become a legal forum for the discussion of compensation issues or contractual interpretations. We hope you understand that these discussions are already ongoing with some clients and are not best served by a public forum such as this.
If you do wish clarification of contractual issues you may write to itozer@tecnicil.com.
Andy,
ReplyDeleteThanks for your questions. We believe that some of the Phase I blocks will be ready for rental by the summer, best to aim towards July. I would not like to guarantee at this stage what exact dates, but I am happy to ask the construction company for a closer estimation.
We are aware that MRI are conducting some kind of sales campaign that involves suggesting that Tecnicil, and indeed other developers, are on the verge of bankrupcy or indeed already there! This could not be further from the truth.
ReplyDeleteThe main financial backer of the project, Banco Espirito Santo (BES) has signed off the final portions of the finance and there is now nothing that can stop the project from being finished off.
MRI's comments and campaign have been documented now for us by many clients and we are taking the appropriate legal measures.
With regards to Tecnicil's funds, the company is very solvent with assets in other parts of the islands and business interests that extend to the food and beverage market in Cape Verde as well as other thriving importation businesses. With regards to compensation payments and having necessary funds, clients can rest assured that where necessary all obligations will be met.
With regards to the contractual prices. It is normal practice to maintain the contractual price, both in high and low markets. The end price of a property is calculated based on many parameters. It would be impossible to start making adjustments at this stage in the purchase.
ReplyDeleteThe economic downturn has clearly affected many people and we helping clients in as many ways as possible but regrettably we are unable to modify the pricing structure.
The offset options were devised by Tecnicil Hotels and Resorts to enable certain types of apartments to join the rental scheme. This was because they needed to provide a solid balance for the resort's presence in the tourism market. As it stands we are now not taking more into the rental scheme, as is, and currently have enough T3 units for the spread we were seeking.
ReplyDeleteI am very interested in the Vila Verde resort.
ReplyDeleteHave you publicised this site to all of your VilaVerde clients?
I have so many questions that need answering, and I think others would ask the same questions and save me time, and it will get boring if ' andy chapman said.. ' VVRSM said... '
I have bought in Atriplex.
When can I expect my first snagging?
When can I expect contractual completion?
When will you expect the final payment?
When would I be able to use the apartment?
Have Tecnicil invoked Force Majeure? If so, what was the "event out of their control", and what were/are the start and end dates of that event? Our contract has paragraph 5 of clause 6.We have not been informed of any such dates.
ReplyDeleteIf FM has been invoked, what will be the effect on the delivery of phase 2?
You have not posted my question re FM. However it has been written somewhere else that this has been invoked because of delays at the port.
ReplyDeleteInteresting that, considering the post from yourselves above-"tecnicil are involved in other THRIVING IMPORTATION BUSINESSES" That implies you shoud have known about possible delays.
I LIKE THE COLOURS ON SITE, CARRY ON WITH THE GOOD WORK.
ReplyDeleteWith regards to the Force Majuere (FM) question. Tecnicil have invoked FM for a small number of reasons, the main one being an issue with the supply of sand to the development. This involved an agreement which the public authorities reneged on.
ReplyDeleteBeing involved in "thriving import businesses" does not, regrettably, provide us with a crytal ball and as business in Sal has grown, the port has sadly become less and less adequate. We hope that it will soon be enlarged and adapted as the whole of the island improves.
The revised dates for snagging in Atriplex are May 22nd. Contractual completion does not entirely depend upon us. Firstly, once the property is finished we apply for the habitation licence.
ReplyDeleteThis can take some time. In the case of the first three communities it was a couple of weeks. We would like to think that we could get the licences at the same time as completion of the works, but it could be a little bit after. Then we set a date for deeds!
The final payment is payable upon title deeds. From this point on you can use the apartments.
The actual properties that make up the three communities that have been completed are totally finished. The exterior work is being done now, as is normal with all resorts, and the pools and gardens will be ready in due course.
ReplyDeleteAs the other commuities move to completion there will be more and more done on site so that there will be less and less of the surrounding infrastructure to finish.
There is access to the road and to the beach. The area closest to the main roundabout will be the access for them.
The bars and the like will be along later. As many of these are third party businesses it is difficult to assess when they will be up and running.
Do you think its fair to hand-over a property within a community that is not finished, although I understand the apartment may be used, I feel the ongoing works within the community would make it very difficult.
ReplyDeleteI have to agree certain International Realty companies are pushing ' stabbing Tecnicil in the back ' to the limits.
ReplyDeleteThey have taken their money and run, from Tecnicil and investors alike, and have now decided this wasnt enough so have come back for more.
I have my problems with Tecnicil but in contrast hopefully they are like saints.
Can anybody who has gone through the snagging/cpmpletion process for a Phase 1 property tell me the appox costs for connecting service etc - everything that is need to get the property habitable?
ReplyDeleteI was with MRI who have taken my money for a aftersales service they have failed to deliver? Who is the best company for snagging, Overseas Solutions has been recommended by Tecnicil - anybody got any experience of their service? Thanks.
ReplyDeleteAndy, it is not a question of "fair". The reality is that we finish off the apartments and then they go to title deed. The surrounding areas, as can be seen by our photos, are then finished off in the same order. The "ongoing works" are then moved to other communities.
ReplyDeleteTecnicil most certainly do not recommend Overseas Solutions if by them you mean Solutions Overseas as we believe this company is an offshoot of MRI.
ReplyDeleteThere are a few companies that offer snagging on Vila Verde but only one that is actually a snagging company, if you get my meaning. That company is Snagging Overseas (www.snaggingoverseas.com) and while being impressed with their professionalism etc, we do not specifically recommend them.
It has not been made clear if Force Majeure is being invoked for Phase I and Phase II. Tecnicil does not have as they are implying to an automatic right to 180 days. The time taken under FM will have to be justified and accounted for by Tecnicil and correct procedures/notifications to their clients strictly adhered to
ReplyDeleteHi
ReplyDeleteThe information here is helpful and informative Have you any idea yet on completion date for Malaleuca?
Have the 3 completed communities got water and electricity connected yet?
ReplyDeleteHow long do tecnicil think it's reasonable for customers to wait after contract completion date for there property ?
ReplyDeleteHow can you call not ordering sand a case of force majeure?
Why has tecnicil told some customers they wont be adhearing to the contract they signed?
What is roman law?
Why are customers being asked to pay for there properties when they cant get to them without a hard hat and the water and electric arent even connected to that block yet?
Why have Tecnicil stopped answering peoples questions on this site. Ae MRI correct in saying that Tecnicil are going bust?
ReplyDeleteHas this blog finished?
ReplyDeleteIts the May 6th 22:29 and there as been no update since April 27th 11:20AM
Tecnicil's position on the Force majeure issue has been made clear. However, we are happy to try and explain again. The sand supplies had been agreed BY CONTRACT and the sand it self had been assembled and stored. Tecnicil had organised the collection and storage of enough sand to complete the works. The local authorities were in agreement and all was well.
ReplyDeleteThen the local authorities - as they do, they are politicians, remember! - decided to make a unilateral change in this agreement and also to place an embargo on the sand already collected.
Now many people say to us, "Pah, just go and get sand elsewhere!". Remember Sal Island does not have a B&Q or a Leroy Merlin up the road. Tecnicil had to go and find a new supplier of sand, negotiate the whole deal and then start the importation process. This is not something that is solved easily in these countries.
Those that scoff and say it should not have set us back more than 4 or 5 weeks do not understand the logistics of working on Sal.
So, if Phase I gets knocked back because of this, then this will have a knock-on effect on Phase II. It is regrettable but is the truth.
Force Majeure denotes anything outside of the control of the parties in the contract and does not necessarily mean an act of God as some people have implied.
Hopefully by answering I have countered the anonymous comment about MRI's statements. For the record, MRI have sent us a lawyer's letter accusing of defammation! Now the more right minded of us find this truly incredible. They say we have made comments that "have damaged their business".
ReplyDeleteI imagine that Tecnicil saying that we are NOT bankrupt and Tecnicil saying that any statement to that effect is a LIE, might be damaging their business if their business now relies on our alleged failure for their success.
So we know MRI say this but we refute it. As I have put in this Blog, "Rumours of (our) death are an exageration".
But literature lovers may like to know that this quote, by mark Twain, came about because someone ELSE, Twain's cousin James Ross Clemens, who had been ill and then died had been mistakenly reported as Mark Twain.
Perhaps if I put the whole quote here it would be much more apt, under the circumstances.
"The report of my illness grew out of his
illness, This report of my death was an exaggeration".
I think we will find this is the real case here. Tecnicil is alive and well and will be here for years to come, of that you can be certain. Vila Verde is a reality that is taking shape every day. We are late, it is true, but we are delivering.
Regarding completion and what is "reasonable" to wait after completion date. The question of what is reasonable lies in whether you fear the property would not be delivered.
ReplyDeleteThe idea of a promissory contract is that one party promises to buy and the other party promises to build and deliver. Clearly we are building and will deliver so there can be no fear of us not fulfilling our promise. We will also pay compensation for the delays - and it is important to note that we will do this WITHOUT you have having to go via your lawyers or incurring further costs - what we therefore do not view as reasonable is that someone who says they were truly interested in buying a finished property now say they don't want to because they "have lost faith" or because they just don't feel like it anymore. Is that reasonable?
There are few resorts in the world that finish on time and on Sal Island Tecnicil have met and overcome many challenges but we are now near the end of the journey. Stay with us, you won't be disappointed.
Why do we sometimes speak of Roman Law? This is to try and help the UK and Irish clients who are used to Anglo Saxon law.
The main reason for this is because interpreting a contract drawn up in Roman Law from the perspective of UK law makes little sense. Many people tell us they have consulted with a solicitor in the UK. This can be very misleading as contract law in Europe is based in specific laws and much of the content is implicitly linked to these laws. A UK solicitor would no little or nothing of these aspects.
The best people to aid in your interpretation of the law in Cape Verde are Cape Verdean lawyers or lawyers from Portugal. Cape Verde as an ex Portuguese colony still retains most if not all of the Portuguese law and legal structure. The Cape Verde Civil Code is almost an exact transliteration of the Portuguese Civil Code, for example.
We take your comments about wearing a hard hat to reach your property with a pinch of salt. However it is a good point that you make.
The resort is finishing off right now. There is always a small leap of faith at the beginning. Someone has to be the first to go to title deed. When this happens there may still be some ongoing works around him. Indeed, if you build your own home in the UK, when you move in you still might have workmen doing some finishing touches.
As we have mentioned before, these works will be finishing off as we move into the successive communities. Our aim is to have the whole resort open and in conditions to function by the end of the year.
In the meantime we will finish off Phase I and move into Phase II. This means that hopefully by the summer Phase I owners will be able to enjoy more and more aspects of the resort. Have a little patience because Tencicil is a company that really means to make the best resort on Sal but this does not happen overnight, clearly.
Now on to water and electricity. The water and electricity "board" on Sal is known as Electra. Tecnicil's obligation was always to install the systems and the wiring etc. in the resort and prepare it for connection to the main electricity "grid" on Sal.
ReplyDeleteOnce this is done then Electra will come and inspect and then do their part. Well, we are not talking of something that they do every day. Connecting the largest resort IN THE COUNTRY to what was up till then one of the smallest "branches" of the national electricity board was probably always going to be something that they would get wrong the first time.
In saying that, remember that in all countries, and the UK is no exception, when you buy a new house the electricity is not on. You have to sign up for it yourself. In Cape Verde you need to go to Electra with the deeds for the property and pay the connection fees.
It is also Electra that manages the water! So it's the same story. Once you go there and do all of the paperwork then in a few days the service will be put on.
Watch this space and will let you know when the first clients have got themselves hooked up!
Hi Patricia,
ReplyDeleteThank you for your message. Malaleuca is the last community to be finished and we aim for snagging in November. This is a way off still but Malaleuca will benefit from being the one community that really won't have any work of any kind going on around it!
To the Investment Property Rumous guys, thanks for you support. We have read your article. Those of you that would like to see their take on the MRI "games" have a look here:
ReplyDeletehttp://investmentpropertyrumours.blogspot.com/2009/05/vila-verde-great-bait-and-switch-part-1.html
Is the electricity on to the landlords lighting ( stairs ) and fire detection system?
ReplyDeleteIn the UK new homes come with the power on, you then swap your supplier if you want to.
The final payment is payable upon title deeds. From this point on you can use the apartments.
ReplyDeleteHow can people use their apartments with no water on?
From what you are saying it sounds like its the actual island infrastructure that is still not in place, is it not Tecnicil that are expanding this also?
The main reason for this is because interpreting a contract drawn up in Roman Law from the perspective of UK law makes little sense. Many people tell us they have consulted with a solicitor in the UK. This can be very misleading as contract law in Europe is based in specific laws and much of the content is implicitly linked to these laws. A UK solicitor would no little or nothing of these aspects.
ReplyDeleteThe best people to aid in your interpretation of the law in Cape Verde are Cape Verdean lawyers or lawyers from Portugal. Cape Verde as an ex Portuguese colony still retains most if not all of the Portuguese law and legal structure. The Cape Verde Civil Code is almost an exact transliteration of the Portuguese Civil Code, for example.
My cape verdean lawyer says you cant use force majeure so who is wrong everyone or just tecnicil?
The resort is finishing off right now. There is always a small leap of faith at the beginning. Someone has to be the first to go to title deed. When this happens there may still be some ongoing works around him. Indeed, if you build your own home in the UK, when you move in you still might have workmen doing some finishing touches.
ReplyDeleteAs we have mentioned before, these works will be finishing off as we move into the successive communities. Our aim is to have the whole resort open and in conditions to function by the end of the year.
Why is it always up to the customer to take a leap of faith we did that once already giving tecnicil 50% deposit with a contract and promise of time frame that we all see what happened there in our country you dont get paid till you finish the block at least given outside work may take a little longer not much but once you open front door to the block everything inside should be finished including water and electric hooked up.
With regards to Force majeure, and this is the last time we will publish or reply to this topic as we do risk going round in circles, your lawyer could be wrong, remember, and therefore by extension anyone who receives advice from this lawyer will also be wrong. This would give the impression that Tecnicil is disagreeing with many people when in fact we are just disgreeing with one - the lawyer.
ReplyDeleteThe facts at the moment are that we have reached an agreement with the different lawyers offices about the compensation payments and they have all accepted a kind of "middle ground" option. You can write to us to know how this affects you personally.
With regards to the water and electricity I think we are suffering from a bit of "Chinese Whispers" here. Andy has asked these questions several times, both via email to us, on forums and on this Blog. This gives the impression that many people are in the dark - no pun intended!- about what the situation is.
ReplyDeleteLet me clear it up. The way you hook a property up in the UK is clearly different to in Cape Verde. If we can all agree that this is a fact and not some trick by Tecnicil to sell you a property without power, then we can progress.
A new build property in the Cape Verde Islands, and in Spain, Portugal, Italy and many other foreign countries, does NOT have its power and water supply active when you take possession. It's a bit like BT in the UK. The system is installed and has been checked by Tecnicil's technicians and then by the electricity board's people. So it is FIT for use.
However, it is NOT connected because they do not connect the apartment up for use until the OWNER signs up with them. In a new home in the UK the telephone is not connected, I believe, until you have agreed a new contract in your name with BT?
So now this is no leap of faith, this is the way it is. The OWNER has the resposibility of activating the power and water, but the system is in place.
The common areas are being checked now, by the way, and the communal lighting on the first three communities has been tested and should be working in the next few days.
So this talk of Tecnicil trying to deliver apartments that are not finished is at the best so much Chinese Whispers, or at worst nonsense.
Just to reiterate something. We will NOT publish questions regarding points in the contract. We had stated this previously but still some questions come through. We have made our position clear publically and are happy to deal with all clients on this point, but the idea of the forum is not to get into an exchange with individual clients regarding their personal situations.
ReplyDeleteThanks for your understanding.
Tecnicil is not involved in expanding the island of Sal's infrastructure. This task is in the hands of the local government. Sal Island clearly has to develop as the different new resorts come on line but you surely knew this when you purchased. Have you been there, Andy? Part of its charm is the way it is.
ReplyDeleteIs there any chance government in cape verde dropping the tax on furniture to help builders to get things moving as 80% is a rip off
ReplyDeleteHas Tecnicil had any conversations with the government about reducing import tax on furniture to help buyers during this recession ?
ReplyDeleteHI,
ReplyDeleteTHE LINK TO THE PROPERTY INVESTMENT GUYS SAYS YOU ARE INVOLVED IN THE INFRASTRUCTURE AND INDEED HAVE LINKS WITH THE CV GOVERNMENT, IE DIRECTO5S OF TECNICIL ARE POLITICIANS.
IS THIS TRUE?
HAVE YOU SEEN THE STATE OF THE UK POLITICIANS ATM?
Any chance of some new pictures with names of blocks included?
ReplyDeleteIs anyone there has the blog ended nothing posted for over 10 days its a bit like my cape verde lawyer never answers lol what a joke
ReplyDelete10 days still no blog questions what went wrong has the writer went on holiday
ReplyDeleteDid you get bored with the blog?
ReplyDeleteMy apologies for the delay in getting back to you all. We have quite a lot on and so did take some time to get back!
ReplyDeleteCan I also add again that we will not publish questions about the contract. Please communicate with your lawyers or with us directly regarding this.
We will publish some photos next week and add the names of the blocks.
ReplyDeleteThe Cape Verde government has been contacted by Tecnicil many times wih regards to relaxing the different taxes imposed upon investors coming to the country. We have petitioned them several times. However, they have not, as yet, made any concessions.
ReplyDeleteTecnicil does not have any politicians as members of staff. We do have an ex minister on the board and also the ex-governor of the Bank of Cape Verde.
ReplyDeleteI think that we do not need to assume that just because the UK government may have issues that they are automatically extensible to other governents.
Given the size of the country and also the size of Tecnicil it is usual for us to have some influence. If only we had more!
On the blog you state Raphis will complete by the end of summer, on Picasa it states this will be the last block to complete!!, Can you give any definate dates for people who want to arrange a visit ?
ReplyDeleteRaphis being last does not belie it being at the end of the summer! We have said we will refine dates when we have them. Please understand that we are not concealing info from you, we are updating info as it comes in. This is not a market with massive experience nor a country with a track record of building large projects so we do get it wrong more than we get it right!
ReplyDeleteWe also had less support from the CV government with clearing materials from the port. Now the government has pitched in to help us and we are hoping we can start to meet our dates much more.
Has canna had water /electric connected yet to apartments
ReplyDelete