Ocean Blue Condo Project - Land has been sold

I received confirmed information today that the land on which the Ocean Blue Condos was to be built has been sold and a deposit was paid yesterday. My source tells me the buyer is a land speculator, not a builder, and is only buying the land, but not the ongoing project. It is my understanding that the Ocean Blue project will not go ahead. That means those who have paid deposits for condos will need go to the estate agents to confirm this and get their money back, if possible, if there will be no condo construction after all.