I’ve received numerous emails voicing their concerns about the consistent lack of progress in the construction at Acqua Condominium at Palm Beach. Acqua has struggled to comply with the self imposed schedule thus far.
Recently Acqua sent out newsletter with updates about the development. Of the four paragraphs one was dedicated to explaining the current status. The status update was confusing, I had to read between the lines. The newsletter states that the sun is shining again on the construction work because the building material is on the premises. The first week of November they expect to go full ahead with the construction. I’ve already marked it in my agenda, I’m going to be on top of it. I’m really rooting for Acqua, we don’t need anymore unfinished developments in the area.
Acqua Condo, with a mall on the left
There was another thing line that caught my attention in the newsletter: “Everybody is ready to continue since the release of the money exchange in Venezuela”. I’m sure most clients, if not everybody, from North America don’t understand this. For the ones who don’t now, Venezuela has put limitations for the exchange of foreign currency to its citizens and businesses. No Venezuelan company is allowed to sent money or invest outside the country through legal channels.
My question is though, what does this have to do with anything? Is the construction money coming from Venezuela? Or the materials? The construction workers? Relying on Venezuela for building materials, funds or otherwise seems to be a poor business decision, no matter how good it seemed during the planning. The partners of this development are Venezuelans indeed but that shouldn’t be problem. Did you know that behind most recent successful condo constructions at Eagle Beach Venezuelan developers are behind them as well? FYI.
Close up or recent status of Acqua Condo