A developer found himself in a complicated situation: he had sold 90% of the development, but the progress of the work was less than 20% and the delivery dates were approaching quickly. This generated impatience among the buyers, who were concerned. In the initial analysis, a discrepancy of 30 million pesos was discovered between what was executed and what was paid to the contractor, as well as differences in quality and materials used compared to what had been quoted.
After a few weeks, it was determined that the contractor had to leave the project, return the missing money, and deliver the materials in his possession. Despite this, the client decided to give the contractor a second chance, allowing him to work for five more months without consequences. However, the progress continued to be minimal, the contractor repeatedly failed to comply, and the delivery deadlines had already passed. As a result, the clients demanded their money back, which generated a bad reputation and distrust in the national real estate market.
After studying this case, a series of wrong decisions were identified that contributed to the project's failure. The developer lacked experience in large-scale projects and was carried away by commercial success without considering the critical aspects of the business. According to AMPI, such situations generate significant losses in the real estate sector and abandoned projects.
The lack of research on the contractor, the absence of bonds, and mass pre-sales at reduced prices placed the developer in a vulnerable position. The lack of clear processes, poor quality in the construction, and questionable financial decisions also worked against him. In summary, the project suffered from inadequate planning, ignorance of regulations, and a lack of an experienced team for its execution.
In the world of real estate development, the viability and feasibility of a project, as well as detailed planning, are crucial to avoid situations like the one described. It is essential to have a trained team and to know the risks involved in such investments. Patience and strategy are key in a business marked by uncertainty and risk.
