A business acquaintance called me yesterday from a tourist island province. She informed me that the botched land purchase we had (due to competition) is not proceeding smoothly. Apparently the same problem we had was encountered by the mogul buyer, a big name in the industry
We dont mind this though because we a have jv in a tourism city in the north and it could be jv.
So the business partner informed me that to avoid the competition in the island province, we would shift to an AB market say 3 to 4 hectare and probably jv.
A jv would be preferable because you save the cash flow for land acquisition and you can proceed right away with development and construction. The landowner is assured of continuous source of income and becomes part of price increases
We hope we can be successful in both
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