A company, first believed to be involved with the development of the Neo Victoria apartment building in George that collapsed last week, now clarified that it did not participate in the project.

Last week, Caxon Local Media reported that Ice Projects Pty Ltd seemingly disappeared from Neo Victoria’s website and property board after the collapse. Neo Victoria is the landowner of the property.

Questions were sent to Neo Victoria, questioning why Ice Projects Pty Ltd’s logos were removed from promotional material, which went unanswered.

However, Ice Projects sent a legal letter to Group Editors on Friday in which it clarified its involvement with the project.

According to the letter, Ice Projects was a historic shareholder of the landowner, Neo Victoria, for a five-month period, between December 2022 until May 2, 2023.

Ice Projects sold its shares in Neo Victoria to Scarlett Ribbon Properties 56 Pty Ltd on May 2, 2023, which pre-dated the approval of building plans and the commencement of the building works.

“Ice Projects decided not to participate in the project, pursuant to the completion of a due diligence and feasibility study, upon the information available at that stage, which revealed that the project did not yield a sufficient return of investment.

“Ice Projects has no shareholding, interest, control or influence in respect of the project or the property, in any manner or form,” the letter reads.

According to the letter, the management of New Victoria failed to remove all references to Ice Projects from their marketing material.

“Their administrative neglect was addressed, and they have been contacted and requested to attend to the required removal, which they subsequently attended to. New Victoria Developments (Pty) Ltd has since confirmed Ice Projects’ non-participation by way of a press release statement.”

Caxton Local Media received a letter last week in which Neo Victoria stated that Ice Projects was not involved with the project. However, Neo Victoria failed to answer follow-up questions regarding Ice Projects’ involvement and why the company’s logos were removed from promotional material after the collapse.

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