Palm View Resort Boa Vista now on Chaves beach again

Palm View Resort surrounded by controversy

This Palm View Resort development has caused some controversy in Ireland because of some unlikely claims made by the young developer Ciaran Maguire.

Palm View Resort has twice moved its proposed location. . A Dublin company Flash Group, without previous experiences in the Cape Verdes or abroad, has plans. It is run by Ciaran Maguire, a young man, the son of a metalwork supplier. The long line of terraced flats which face onto each other rather than the ocean feature metal framed plate glass windows and plate glass balcony walls. This could be hot. Plans for Palm View include a restaurant and hotel with bar, beach bar, snack bar, disco, boutique shops, gymnasium and beauty parlour. Several swimming pools and 4 tennis courts are proposed - one with astroturf. An open air theatre and kid`s club are also listed. The Palm View Resort is proposed to have water pools and fountains, presumably with sea water as there is no fresh water supply. It is intended to be guarded night and day. But it is unclear where it is going to be.

Prices start from £55,000 for a studio and. 2 bedroom apartments from £135,000 and 5 bedroom villas from a whopping £600,000. (Prices seem to be rising already) A rental income of 5% for three years allowing 4 weeks’ personal use is on offer, depending upon whether the Palm View Resort is completed.

Flash Developments is in Receivership

Exchange Insurance which provides bonds to developers so that investors do not have to pay any money until the property is ready went into Receivership in 2009. Among its clients was Flash Group of Dublin for the Palm View resort.

Overseas Cafe, an Irish property blog comments on Ciaran Maguire, the developer of Palm View Resort.

"We would have to add a proviso here though. Not everyone is all that wonderfully excited about Ciaran Maguire's assuming the throne as the crown prince of overseas property in Ireland. In fact, some have gone as far as to say that his proposed Palm View Resort on Boa Vista Island in Cape Verde is not all that it may seem. Questions have been asked about such items as the quality of the development, the price it is being sold at, whether the development has planning permission, Suffice to say that the whole topic of Palm View Resort is getting a good and proper airing."

A from Cambs comments

"Palm View resort is being developed somewhere on Boa Vista ( the place keeps changing). I understand thePalm View resort villas in the best locations are over £500.000. This brings Boa Vista into a different league. These Palm View resort villa prices are obviously aimed at people with money. The Palm View Resort development is planned with restaurant, beach bar, disco, boutique, gym and spa, swimming pool, kids club, creche, tennis courts on astro turf, and outdoor theatre. All this on a desert island where the locals still queue for water! If they pull it off it will be absolutely amazing. I personally believe such a "leap" in "luxury" is a bit premature for Boa Vista. I believe locations develop a reputation, it is not instant. Boa Vista is a great place, however it has not earned that reputation yet. In the Caribbean a villa could cost over £1.5m, However Boa Vista is not the Caribbean ! I personally would rather buy 4/5 apartments elsewhere on the island rather than invest half a million."

F from Ireland checked the plan approvals

"I have looked at this Palm View resort development with one of the agents that I buy investments from but after looking at it I have found out it has no planning permission which concerns me. Does any one know about this? "

Ciaran Maguire the developer of Palm View resort replies

"On July 5 2007, Flash Developments agreed to purchase 98,000 sqm plot at Praia De Chaves, under number 5438 from Mr. Martiano Oliveriato, for Palm View Resort. It became apparent that it would take a long time to get a licence for construction. It was relocated to Curral Velho on a larger plot. But is now going back again, We have added a golf course and marina to our plan. Documentation has been submitted to the authorities. We chartered a 737 to take over 100 investors and journalists on an inspection. Money deposited is placed in an Escrow account . We have backing from Exchange Bond. an FSA regulated lender. This enables Flash Developments to receive a bank bond from Exchange Insurance ( now in liquidation) in return for a client deposit at Allied Irish Bank.

We have commissioned Loids Engineers a Cape Verde company to start works with construction as well as a new road set to begin in 2009, We will wet lease two 737s for two years with the option to renew. We intend to fly from Dublin, Manchester and Gatwick. Ciaran’s father`s company Flexi Fit managed developments in Ireland."

The Irish Independent reports that Ciaran Maguire is threatening websites

"The Palm View Resort in Cape Verde, off the western coast of North Africa (sic), is comprised of hotels, a golf course, villas and apartments (sic). As part of the high end scheme, the group has also announced plans to lease two Boeing 737 aircraft for four years to operate from Dublin, Manchester and Gatwick airports. Investors are invited to use exchange bonds as an alternative to cash deposits on the Palm View Resort properties whose reservation fees run from €10,000 for a studio to €50,000 for a villa.

However, question marks began to appear around details of the Palm View Resort development on a number of property related websites, blogs and forums. The Irish website Overseas cafe. com asked to clarify many of the questions being raised, Flash Developments and the workings of the Ciaran Maguire Group have been openly discussed on several popular forums. Contact between the site and the Palm View Resort developers led to the tabling of over 50 questions, based on those same concerns that had fuelled internet debate. Amongst the questions, the group was asked to clarify where it had come from, whether it owned land in Cape Verde, why the development was moved from its original location and whether there was any surfaced road access to the site."

W from Cornwall has pulled out

"Well we can sleep at last. We finally received our refund after some confusion over timings for Palm View Resort. I am glad to put this behind us. Great development if it comes off but too much uncertainty with land ownership and general world economic gloom. Still we did book a holiday so looking forward to finally seeing the place. Yep we bought without ever going there. Times change and I wouldn`t do that nowadays. Good luck to those who are still in Palm View Resort."

So Has M from Ireland

"I`ve now myself pulled out of buying a studio on Palm View Resort. I couldn`t wait any longer for some concrete evidence of them owning the land to build Palm View Resort."

S from Wilts has walked away

"Sorry but Palm View Resort's a big mess from a so say multi million pounds corporation.. It's put me off that's for sure."

D from Dublin asks

"1. Why does the Flash Development website have an incorrect address and phone no?

2. What has his father's company "Flexi Developments" actually developed since 1988? Apparently its apartments in the K-club and some part of the Dundrum shopping centre?

We need to know exact details." Ciaran's Father's company is a metalwork contractor ie metal cladding, metal railings. It certainly would not give me confidence . This whole thing is getting ridiculous and it's hard to believe that in this climate anybody would be foolish enough to put money into this Palm View Resort scheme. I got an e-mail recently from Palm View Resort launching their new Palm View brochure. just a storyboard of pictures and general Palm View resort blurb."

Ciaran Maguire from Flash Developments has replied

"While we recognise and acknowledge the frustrations in relation to the current delays, we would like to point out that these delays are out of our control and unfortunately are common in Cape Verde. However we have the best people on the ground working on our behalf to speed up the process and we have been given the assurances that by the end of March 2009 we will have all the relevant documentation in place allowing us to commence construction by the end ofJune 2009. "

capeverdeinfo.org.uk