Wednesday 18 January 2012

Ciaran Maguire Group Disassociates Itself from PCI

Ciaran Maguire Group Disassociates Itself from PCI

Ciaran Maguire claims to have sent this email to us back in October when we first queried him about the company's connection with PCI (see previous stories), but we certainly didn't receive it then, nor did we receive it after a further email to the company in November. In fact we received no response of any description from him. We remain sceptical that it was sent, but will have to take his word for it. 

It is particularly strange that the email says that "Ciaran Maguire Group are very much looking forward to delivering the first sets of keys in the second quarter of 2012 to our Palm View clients." when at that time on his Blog the PV Construction Schedule (which was still there at time of writing this post) states that completion would be in mid-December 2011, there's never been an update to this on the site - at least not yet. In fact there haven't been any updates at all since last September. Also, a sales agent for the Boa Vista Palm View Resort development claimed to have sold €5m of Palm View apartments at the Property and Investor Show in the UK in early November, stating on November 10th in its blog that the development was set for 'completion in December of this year'. This seems totally at odds with what Ciaran claims he sent us in an email early in October. Surely he would have informed all agents selling Palm View of such a large change in completion date. He would certainly have been far more likely to tell them than he would be to tell us. 

The moving of this completion in Cape Verde to May 2012, while deposits are being collected for a new project in Fond Bay, St. Lucia, and while previous clients in Cape Verde who have asked for their deposits back remain unpaid, may draw criticism in some sectors. 

In order to offer balance here is the email from Ciaran Maguire (which he claims was sent last October) exactly as it was received by us today, January 18th 2012.

"In response to your email, I can confirm that Ciaran Maguire Group had terminated all agreements with Provident Capital Indemnity over 14 months ago. We originally entered into an agreement with Provident Capital Indemnity over 2 years ago however when we realized the seriousness of the allegations against Provident capital Indemnity we quickly moved to dissolve all agreements. It has to be noted that PCI was introduced to Ciaran Maguire Group by the most reputable broker in the market, the London based broker have also ceased relations with PCI.                       

At the start of 2011 the Company set up conferences in London and Manchester and met with all of the Palm View clients to give them an exact status report as it is Ciaran Maguire Groups main objective to protect the interest of our clients. At the meetings, Palm View clients were made aware of the new 100% finance option in place of the PCI bond and also the news that we had taken over of a previous scheme in Boa Vista, this scheme has been re designed and re branded to the Palm View Resort. The takeover has proven to be very successful. We are on target to complete phase 1, (block A and F and the Palm View Hotel) in the second quarter of 2012. All of our Palm View clients have signed up to the new scheme as well as a considerable amount of new sales with phase 1 being sold out and is currently 85% built. There is no doubting that the Palm View project endured frustrating delays as indeed all developments were affected during the difficult global recession but Ciaran Maguire Group are very much looking forward to delivering the first sets of keys in the second quarter of 2012 to our Palm View clients.

As previously mentioned, I would be happy to make myself available to meet with you and furnish you with all relevant documentation such as Palm View land title, Palm View building permits, details on the 100% finance and indeed funding in place for Palm View Cape Verde and further projects, it would certainly clear up any queries you may have on Palm View. I leave for the UAE on Thursday the 20th and then on to Cape Verde till the 7th of November but am available prior to my departure and indeed on my return."  


CiarĂ¡n Maguire
Chairman & President

CastleBaggot House,
Dublin 22.

Ph: +353 1 6251542
Ph: +353 1 6251544


buyer beware said...

He's at it again, check out
this site basically features travel brochure shots of a tropical island, could be anywhere. Also pics of swimming pools etc: etc: if you saw the Boa Vista website you know the drill, nothing built yet, just impressions and big promises. I love the 'Testimonials' page, glowing reports from people like Thomas Healy who apparently also bought in Palm View Cape Verde! A resort that has had 3 different locations and is still unfinished after nearly 4 years! This guy must have loads of money to waste, I would love to ask him about it but of course there are no contact details for any of the people who allegedly sent in these comments so you can't verify them. The site makes great play about been 'featured' on this however is just an ad placed there by CMG, If you scroll down to the bottom of the page you will find the following disclaimer:

The information displayed about the property comprises a property advertisement. makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, has no control over the content. This property advertisement does not constitute property particulars. Please contact the agent directly for any information that is required under any laws of that country or jurisdiction.

Buyer beware! It's all smoke.

lwlussier said...

I would like to see from anyone, Ciaran Maguire Group especially, photos of Palm View progress to assure project investors as so many other developments do today.

Investor Glen said...

I cannot believe this criminal Ciaran Maguire is selling property in KL. Now that he cannot do business in the Europe and even Middle-East because of his fraudulent projects he is now defrauding clients in Malaysia. Very sad!

Palm View Cape Verde is delayed by 4 years and this guy has never built a single apartment in his entire history as a developer. As of the post above I would like to highlight on the website most of the imagery is generic there are no real renderings of the project and also a wide range of images have been used from Palm View Cape Verde. Ciaran Maguire know how to put together pretty brochures and sell the dream but unfortunately the dream seems to remain a dream forever while Ciaran Maguire collects reservation fee's world wide.