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 Post subject: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 11:18 am 
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Of Systemic Importance

Joined: Feb 8, 2007
Posts: 5141
http://www.irishtimes.com/newspaper/pro ... 21670.html
Quote:
Young property developer Ciarán Maguire isn't having any of this doom and gloom. We were sceptical, we have to be honest, when we read a press release about the launch of his Palm View resort on Boa Vista Island, Cape Verde.

It talks about 100 per cent mortgages as if there was no credit crunch, and says 30-year-old Maguire can "best be described as an international property magnate, an award winning entrepreneur with an insatiable appetite for forward thinking". It adds that the launch "has to be applauded for its sheer fortitude in this currently daunting economic climate". Indeed.

He's offering an unusual sale and leaseback deal to potential buyers of one of the 370 apartments and villas to be built in the first phase of the huge €2bn 3,000-unit resort he plans there. The homes range from €98,000 for a studio up to €827,000 for a five-bed villa.

A 10 per cent deposit will secure a unit and further staged payments are avoided if you sign a bond saying that you'll lease the property back to Palm View when it's built. In spring 2010, when it's completed, you get your 100 per cent mortgage through Portuguese bank Banif, but make no repayments yourself for 10 years. Palm View takes your 7 per cent guaranteed rents and pays the mortgage instead, for a 10-year period, renewable for another 10. Buyers get to use their property for four weeks a year.

And oh yes, next year Maguire will be setting up his own airline to fly to Boa Vista from Dublin, London and Manchester.

Did we say confident?

I wonder is this guy related to John McGuire of the I'm an Adult fame.


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:03 pm 
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Wow, he got the entrepreneurial hat-trick in there... Speculative property development, sub prime lending, and getting into the airline business all at once. Timing.

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:13 pm 
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Posts: 1925
He's funny.

Check out his website
http://www.ciaranmaguire.com/home.html

I think we may have found Ireland's Swiss Toni.
http://www.bbc.co.uk/comedy/swisstoni/


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:16 pm 
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Location: Stuck in Ahernistan
"Flash" Developments?!


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:21 pm 
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Posts: 1244
jcsmith wrote:
"Flash" Developments?!



I thought you were taking the piss :lol: :lol:

I love his grammar:

My two rules of investing are, the first rule is never lose money, the second rule is never forget the first rule.

Well at least if he fails he can go back to being in a Spandau Ballet tribute band.

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:40 pm 
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Joined: Jan 31, 2008
Posts: 262
"Having been involved in the Irish Construction industry since 1988, Flash Group Developments has grown significantly, and now plays a key role in the development of many of the most prestigious developments in Ireland."


Flash Developments limited - Registered in 20/08/07
Finger on the Pulse Ciaran.


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:45 pm 
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Of Systemic Importance

Joined: Jan 10, 2008
Posts: 5365
Location: BubbleBurst Ireland
Devilsbit quoted [quote]["Having been involved in the Irish Construction industry since 1988"
/quote]

Doing what I wonder and did you have to serve an apprenticeship or not?

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 12:47 pm 
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Joined: Aug 4, 2008
Posts: 31
Location: Spain
"To date, two Boeing 747´s have been acquired which will have direct flights from Dubln, Manchester and London City Airport to Boa Vista Cape Verde"

I definitely want to see this... maybe he can walk on water too..


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:04 pm 
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Single Home Owner

Joined: Oct 2, 2008
Posts: 135
Location: Clontarf, Co. Cork
Yeah Jetmagic had great fun getting authorization to fly their little turboprops into London City
But I’m sure Ciaran’s great negotiating skills will do the business again

Don’t you know the canary wharf traders will need weekend trips to CV direct from the office to escape from the credit crunch

Lads look at his website I thought I had seen it all Ciaran what a legend

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:12 pm 
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Location: Stuck in Ahernistan
Ahhh bless 'im - he even has a testimonial from his Daddy.


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:13 pm 
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Posts: 5365
Location: BubbleBurst Ireland
jcsmith wrote:
Ahhh bless 'im - he even has a testimonial from his Daddy.


I cant read stuff like that, because of a thing called bile reflux. :lol:

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The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is.
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A people that values its privileges above its principles soon loses both.
Dwight D. Eisenhower


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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:16 pm 
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Posts: 7059
He is only a director of one Irish company, Flash Developments, which has never filed any accounts.

Offers 104% return over 30 months?

This is all a joke right?

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:22 pm 
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jcsmith wrote:
"Flash" Developments?!


The website makes extensive use of Macromedia Flash.

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:26 pm 
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Joined: Oct 2, 2008
Posts: 135
Location: Clontarf, Co. Cork
grumpy wrote:
He is only a director of one Irish company, Flash Developments, which has never filed any accounts.

Offers 104% return over 30 months?

This is all a joke right?


104% return over 30 months guaranteed :lol:

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 Post subject: Re: Confident in Cape Verde
PostPosted: Fri Oct 24, 2008 1:29 pm 
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Joined: Feb 22, 2008
Posts: 2177
Location: The Lawn
Warning: there's no skip intro button on the site!


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