Launched in summer of 2008, Diamante Residences had announced the cancellation of their launch by October of the same year. Still in its Charter Membership phase at the time and offering a discounted membership deposit, waived annual dues, and preferred access to the club's properties for the lifetime of the membership, Diamante was still unable to generate enough new member interest to remain active during one of the must turbulent economic times in recent history.
The club launched with but one property, an epic 7,700 square foot hoom in the Dominican Republic and plans to quickly bolster the club's inventory of properties with acquisitions in destination club staples Scottsdale, New York City, Naples, and Palm Springs. With several membership plans, ranging from $150,000 to $395,000 and annual dues from $8,000 to $29,000, the reletively high prices, eroding consumer interest, and lack of an established name and portfolio weighed heavily on the young club.
With the financial markets in crisis mode, the Canadian based destination club announced "The concept is still valid but right now the timing is not." The club officially "suspended launching" Diamante, but the club's website was soon pulled down and it appears all but certain that the club will not be moving forward for the foreseeable future.
To learn more about Diamante Residences, please visit any of the club's quick links found to the right or request a free copy of our Destination Club Guide.
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