Planorama developer tries to reach understanding with angry buyers

“The plan drafted by BSR can be successful only if all parties involved reach an agreement in maximum two weeks. If discussions with buyers reach a favorable outcome, the Planorama compound will be delivered in May 2010, for the T3 building, and in December next year, for the T4 building,” said BSR Europe officials. The developer is close to receiving a new loan from Piraeus Bank, pending a positive cash-flow, the buyers’ agreement for the new deadlines and the hiring of a project manager, according to the statement. Buyers into the Planorama project have been waiting for two years for the delivery of their apartments. The project was launched in 2005 and was planned to include 1,000 flats. It has had previous difficulties when the construction company Yapitek went bankrupt in 2007. The developer replaced the construction company with Denya Cebus.
 Corina Saceanu