From what I understood when the 1 year mark passes (22 of May) then the investors get their money back if the licenses haven't been granted.

Actually, Paulo de Paula, the owner of the land on which GS was promoting Elegance Grand Natal Golf had always planned to sell off other the other plots to various developers so it shouldn't come as a big surprise. The whole area is far too large to be developed by one developer only.

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Yes, I work for a Real Estate company doing market research and analysis but I'm not involved in sales.

Have a nice day