São Paulo Property Buyers Fall Victim to Scam: Video News Report
The video below was recently extracted from the Jornal da Gazeta news programme, reporting on problems faced by São Paulo apartment buyers as a result of being falsely led to believe they would have access to financing via the Caixa Econômica Federal as part of the Minha Casa, Minha Vida (“My House, My Life”) housing programme:
The news report reflects some of the ongoing reputational issues being faced by the PDG development company – widely believed to be prompted by the R$ 2.43 billion acquisition of Agre in May 2010. Whilst increasing the company net valuation to an estimated R$ 8.8 billion, with three major delays on projects in São Paulo and a noticeable increase in the number of legal actions the company’s stock prices have recently plunged on the Bolsa de Valores.
