The international enterprise Oxford Sustainable Group, which pledged to invest 200 million euros to build an innovative residential community in Juuru municipality in Rapla County, says it is still planning to go through with the project despite delays.
Oxford Sustainable Group, which pledged to invest 200 million euros into a sustainable residential and business community between Tallinn and Rapla, says it is still planning to go through with the project despite delays.
Uus Maa, the realty that should have been lining up the sale of Oxford Park, announced yesterday that they have broken off their relationship with Oxford Sustainable Group (OSG).
Head of Uus Maa, Mika Sucksdorff, said that they had a different vision of the working process. "The speed at which they are carrying out the projects and making decisions does not fit into the local market context," he said.
OSG's CEO Hadley Barrett replied on December 9 that they are still committed and the project should be completed in ten years.
"We didn't think there would be a W-shaped recession," he said. "We believed in spring 2011 that the economic crisis would start to pass and thus we had the confidence to come out with the new innovative big project."
He blamed Uus Maa for not being able to close a single deal on apartments on Adamsoni street in central Tallinn or in Oxford Park.