New Resort Development Investment Opportunity, Cape Verde
Location: Boa Vista, Cape Verde
Name: The Resort Group – Hotel Managed by Melia Hotels
No. of Keys: 851 Suites – 70% pre-sold – opening 2020
The Property: The White Sands will be the fourth project developed by The Resort Group, a Gibraltar based development company. The other three resorts are also supported by Melia Hotels and the likes of Tui and Thomas Cook, are on the island of Sal, in Cape Verde.
The Resort Group acquired the land in 2016 for White Sands and look to be fully operational by end 2020.
Cape Verde, situated in the Atlantic Ocean, off the coast of Africa, just an hour south of the Canaries, is a tropical archipelago consisting of ten islands and five islets. It’s an idyllic location with endless sunshine cooled by gentle sea breezes and year-round temperatures of around 25°C to 30°C, famed for its pure white sand and crystal-clear waters.
Cape Verde is an ideal location for property investment, with excellent long-term rental yields and the sort of capital growth than most other emerging markets can only dream about.
• Direct flights are available from European and other cities around the world
• Direct flights from the UK take just 5 ½ hours
• A renowned sunshine destination with some of the best beaches in the world
• Politically very stable with a growing economy since the late 1990’s
• Strict environmental controls and regulations for touristic development
Boa Vista is an island in Cape Verde and the airport is 25 mins from White Sands. It’s known for the sand dunes and moon-like volcanic landscapes of the Viana Desert, white-sand beaches including Tortuga and the sprawling Santa Monica. Sea turtles are known to nest on the shore, while the coastal waters are a route for migrating humpback whales. The remains of a 19th-century fort sit on an islet across from the town of Sal Rei.
The Resort Group is looking for portfolio investors in the project to the tune of £1m upwards, as well offering individual Suites to UHNW investors starting at £185,000.
The Resort Group are currently offering 5 day inspection trips, subsidised at just £300
Main Photo: From the Tui Sensimar/Melia Llana (one of the existing projects), towards the Bikini Beach Club and the ocean.
Brand/Management: Melia Hotels with a HMA for 15 years from opening, with two five-year extensions. Tui have a guaranteed business provision rolling contract for around 60% of the rooms, on a three year basis, and the owners are seeking the same from Thomas Cook.
Current Owner: The Resort Group
Suites: Start at £185,000
Date Posted: August 2019
THPT Comment: Cape Verde really has a lot going for itself…and the Resort Group has established itself with three projects up and running, with White Sands being their fourth.
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