Description

 

This is without doubt one of the best developments we have had to market. This development will offer something for everyone. With Beach frontage, new marina and at a highly competitive price structure, this is your chance to potentially own your own bit of paradise. This development is structured to enable you to maximise your investment. You will initially purchase your plot and then will make a second further payment for the infrastructure and final payment structured over twelve months for the construction of your luxury villa. Constructors finance will be available for your villa up to 100%

 

Key Facts

• Individual Freehold Plots

• Planning for 4 bedroom villas & Townhouses

• Beachfront location

• Payment in stages

• Low initial investment

• Finance for 100% of build cost

• Excellent potential returns

Location

The Cape Verde Islands are part of the Macaronesia, a grouping of four Atlantic archipelagos, which also include Portugal ’s Azores, Madeira Islands and Spain’s Canary Islands. The Islands are located off the West coast of Africa in the same line and latitude as Barbados, allowing summer weather all year round boasting an average temperature of around 25 degrees along with 10 - 12 hours of sunshine daily.

 

Turtle Bay Resort- Maio

Cape Verde

 

A beach front development in Praia Goncalo, Miao, Cape Verde totalling 103 hectares has been purchased for development. This project is guaranteed to be superior by the Government directive that a maximum of only 15.5% of total land coverage can be used for development and will include the construction of a new Marina and all necessary facilities for a self contained holiday complex.

 

COMMERCIAL: Marina development, Clubhouse, Bars, Kinder Garten & Community Centre, Fitness Centre, Restaurants, Hotel, Shops, and Supermarket and Public Amenities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RESIDENTIAL: circa 444 plots for luxury Villas, 115 town houses approximately 1,000 square metres each (circa a quarter of an acre). Each Villa is around 250 square metres each (circa 2,700 square foot) & each town house is approximately 180 square metres (circa 1,937 square foot).

 

Sales distribution will be in the UK, Eire, Spain and the Canary Islands

Plot prices will range from €60,000 upwards.

Plots of circa 1000 square metres are sold freehold with title deed and full planning permission for a 250 square metre Villa.

Town houses will be sold off plan.

 

Phase 1 is available for sale from 1st October 2006

 

The Buying Process

 

Example based on 60,000 euro plot:

2006 Plot cost without infrastructure 60,000 euro

2009 Infrastructure - up to 35,000 euro

2010 Build Cost at 875 euro sqm 175,000 euro
(note – current build cost 650 euro sqm

Total cost of Villa (excl. pool) 270,000 euro

2011 Estimated value 650,000 euro

Estimated Profit 380,000 euro

 

The Payment Structure

 

Pre launch refundable holding fee £1,000

Reservation fee due on launch 5,000 euro (less £1,000 holding fee)
(due Oct 2006 & non-refundable)

45 days following reservation 55,000 euro

2009 Infrastructure cost 35,000 euro

2010 – 24 equal payments of 9,114 euro

 

Buying In Cape Verde

 

Cape Verde's doors are open to private foreign investment; legislation to entice foreign investment into the country was introduced in 1989. The 'Lei de Investimento Externo' ('External Investment Law') introduced in 1993 broadened and enhanced the existing legislation to attract private foreign investment by non-Cape Verdean nationals and includes a 5-year initial tax holiday and a subsequent tax reduction by 50% on corporate tax (currently 30%) for the following 10 years.
All net revenues are guaranteed transference out of Cape Verde in full and foreign currency bank accounts are available. Any dispute between the Government and foreign investors can be decided upon by a sole-arbitrator appointed by the 'Centre for the Settlement of Investment Disputes' in Washington DC. Regarding tourism investment, an exemption is granted on import duties for materials and equipment necessary for construction, installation, refurbishment or expansion of sizeable hotel projects that have been approved for the 'Estatuto de Utilidade Turistica' ('Tourism Utility Status'). These incentives can be extended indefinitely, so long as adequate reinvestment is made.

Private foreign investors are, generally, able to obtain residency status in Cape Verde if they employ more than around 13 nationals or invest more than approximately 50,000 Euros in starting up a new business.

 

Reasons for buying in Cape Verde

Capital appreciation – the tourism and infrastructure developments mean the Cape Verde islands will become increasingly popular with holiday makers and investors

Tourist Development - the government has earmarked 4 islands for tourist development - Sal, Boa Vista, Santiago and Maio.

 

Rental income - the perfect all year climate of 25C with virtually no rainfall will allow for year long holiday rentals.

Direct 5.5 hour flights soon to take off from England in 2006 and no jet lag due to only 1 hour time difference.

Featured on Channel 4’s “20 Best Places to buy in the Sun”

Inexpensive place to buy – large growth expected

Political Stability – A functioning parliamentary political system. Absence of any ethnic, religious or political conflict.

Picturesque environment - beautiful white sandy beaches, clear turquoise warm water, breathtaking mountains,

It’s Safe - social and political stability and negligible crime

Activities – Swimming, surfing, sailing, bird-watching, diving, fishing for marlin and tuna, hiking, mountain biking and golfing

Cape Verde - Maio Island Overview

 

Introduction

 

Maio is located in the south of the Cape Verde archipelago and was discovered in 1460 and named after the month it was founded – Maio means May. The longest point in the North-South direction of 24km and the widest in the East-West direction of 16km.

Maio is a virgin Island to developers. On the Island there is very little infrastructure other than cobbled roads, a port that can take up to 9 meter keel boats and an airport that takes local Island flights only (three flights per week).

Fact

 

All this is about to change rapidly. A new Government body has being formed called (SDTIBM) SOCIEDADE DE DESENVOLVIMENTO TURISTICO DAS ILHAS DA BOAVISTA E MAIO which means (Company for the tourism development of the islands of Boavista and Maio.) This company owns land on the west side of the island called the ZDTI zone and is a huge area. All this land is development land. This land is being sold off to Developers and the money received for this land is to go into the development of infrastructure on the island. They are developing a new master plan for the island now. On the new master plan it will show the new international airport, the new deep sea port in its new position in the north west of the island call Porto Cais and a new Asphalt road from the airport to Cascabulho in the north of the island. In the mean time the Government is proceeding with its own infrastructure such as completing the ring road around the island in cobble.

 

For the island of Maio the Government are aiming for what they call (a segment of the market of high net worth individuals). They will only give permission for high quality construction with very low density of between 12% and 15% max. They do not want to make the mistakes they made in certain areas of Sal giving high density of build and getting mostly a poor product.

Conclusion

 

Maio like Sal and Boavista is fairly flat, has excellent beaches and tourism will be the island’s main form of income. It has the added advantage of being close to the Capital City of Praia on the island of Santiago. There are talks now in progress regarding a daily boat service between the islands because of their close proximity. The flying time between the two islands is only ten minutes and a daily service is planned. There are two 18 whole golf courses planned for the island as well as many 5 star hotels within new resorts. Construction is due to commence within a 12 month time period. Maio in five years from now will become an unrecognisable upmarket holiday resort and will be a fabulous place to own a villa for your own use, rental income and capital appreciation.

Cape Verde Facts and Figures

Cape Verde location: Western Africa, group of islands in the North Atlantic Ocean, west of Senegal.

Cape Verde Area: 4033 km²

Coastline: 963 km

Currency: Cape Verdean escudo (CVE)

Climate: temperate; warm, dry summer; precipitation very erratic.

Terrain: The group of islands are steep, rugged, rocky, and volcanic although Maio is essentially flat.

Natural Resources: salt, basalt rock, limestone, kaolin, fish, clay, gypsum

Population: 418,224 (July 2005 est.)

Age Structure: 0-14 years: 39% (male 82,249/female 80,752)
15-64 years: 54.3% (male 110,119/female 116,816)
65 years and over: 6.8% (male 10,599/female 17,689)
(2005 est.)

Population Growth Rate: 0.67% (2005 est.)

Ethnic Groups: Creole (mulatto) 71%, African 28%, European 1%

Religions: Roman Catholic (infused with indigenous beliefs)
Protestant (mostly Church of the Nazarene)

Languages: Portuguese, Crioulo (a blend of Portuguese and West African words), English

 

Government

Government Type: Republic

Capital: Praia

Independence: 5th July 1975 (from Portugal)

 

Communication

Telephone Main Lines
In use: 71,700 (2003)

Cellular Telephones: 53,300 (2003)

Internet Users: 20.400 (2003)

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