Gran Venetian


Since our initial review of the Gran Venetian project in early 2007, we have been recommending a "pass" on potential investments in the project.

Over the past 15 months, we have published updates to our initial review and advised that the risk to the project has increased since our initial review.

We have now been advised that the developer will have to financially restructure in order to complete the project. And that sub-contractors are not being paid.

We are downgrading our recommendation to "sell" for any existing purchasers. Our recommendation to potential purchasers remains to "pass". We continue to advise mortgage providers not to provide mortgages for investments in this project.