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Cracks in the Real Estate Sector

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Cracks in the Real Estate Sector Empty Cracks in the Real Estate Sector

Post by puliyanam on Tue Sep 24, 2019 8:52 am

The real estate sector is struggling...Some of the customers feel cheated (no apartment and no money) and some others feel short changed i.e. poor quality apartments given.

This sector also seem to be working with authorities/ politicians in unofficial ways
http://www.sundaytimes.lk/180722/business-times/uda-chairman-denies-ties-with-blue-ocean-group-303105.html
Recall RaviK (apartment story)

Some of them were once stars,
http://www.dailymirror.lk/112939/Achilleion-World-s-tallest-show-apartment-receives-massive-response-during-first-two-weeks-
http://bluemountain.lk/news-and-events/international-awards/blue-mountain-wins-5-distinguished-accolades-south-asian-business-excellence-awards-2016/

became scams
https://www.newsfirst.lk/2019/07/13/blue-mountain-scam-what-happens-to-the-victims-why-is-there-no-action/
http://www.sundaytimes.lk/180408/business-times/kollupitiya-resident-complains-against-high-rise-builder-288561.html

Im sure none of you are buying appartments now (?). But play safe. Although I have only quoted two groups struggling (Blue Ocean & Bule Mountain) there are others having trouble. Since the sector may have been used or at least allegedly (as in Blue ocean case above) as an avenue to launder money, for some its cathching the tiger by the tail story.

Some directors are hiding
https://www.newsfirst.lk/2019/07/15/director-of-blue-mountain-produced-in-courts/

I cannot say entire sector is broke but cracks are appearing fast... Some not reported perhaps. Be vigilant Surprised





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Cracks in the Real Estate Sector Empty Re: Cracks in the Real Estate Sector

Post by yellow knife on Tue Sep 24, 2019 9:29 am

Thanks Puli

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Cracks in the Real Estate Sector Empty Re: Cracks in the Real Estate Sector

Post by chutiputha on Thu Sep 26, 2019 2:44 pm

In addition to that Just to recall what has happened to USA so far , what is going to happen in Sweden also about real estate
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