One of the most high profile condominium projects in Aruba must be Acqua condo, currently under construction in Palm Beach. I must admit that I haven’t seen any project in Aruba receive such bad press and negative comments as Acqua has. In fact, if you Google the name of the developer you will see little positive news surrounding this gentleman. On this website a commenter once suggested that the development went bankrupt. I couldn’t verify this independently.
During my 5-month hiatus I’ve receive numerous emails from concerned buyers/investors asking for independent news and updates about this project. What I can tell you is that as of today, the construction is still ongoing. Remember, I drive by this project almost every day. The second part of the main tower is finished and the foundation for the third is already poured.
According to their monthly newsletter they’ve received additional working permits for their mostly alien workforce and another special permit to extend working hours to 18 a day. Additionally Acqua announced that they have reached a deal with a bank that will finance buyers up to 50% of the purchase price at an interest rate of 8%. Again, all this according to Acqua’s own newsletter. I haven’t heard or read the name of the bank or financial institution that is going to finance this. To be continued, I’m sure.