Land banking

Hello Mr Tan

See this report from the UK on the site at Cherry Tree grove.


While it may have seemed that they were actively chasing this the reality is that the planning and appeals process is just filling in a few forms and paying small fees. So they have kept this site alive for three years with a very small investment while telling investors they are actively getting planning permission. Anyway this is the last round of appeal so now they have to tell investors it has failed. If you look on their website they are still talking about getting planning approval for this site.


http://www.chelmsfordweeklynews.co.uk/news/colchester/8189096.Green_gateway_hotel_plan_turned_down
http://www.profitablegroup.com/plots-ctg.aspx

Here is a report on the commotion at the office of a land banking company:http://www.todayonline.com/Singapore/EDC100529-0000082/Profitable-Group-slams-irate-investors


SF