Full Description

SalinaSea and SalinaSand form a fantasic new FRONTLINE aparthotel complex WITH GUARANTEED RENTAL in the BEST LOCATION IN SAL and in our opinion will offer the best rental potential of any development in Cape Verde. This is an opportunity not to be missed.

The Oasis Atlantico Group, the largest hotel owners in Cape Verde, are developing a frontline aparthotel complex on Santa Maria beach next to the Morabeza Hotel and Belorizonte Hotel. This superb project will consist of studios, 1 bed and 2 bed apartments, in a TOP QUALITY development with panoramic bars and restaurants, massive pools, open air jacuzzis, games room, lounges, reading areas, commercial areas, artificial beach, shallow pool lounging areas and spa.

Together SalinaSea and SalinaSand will comprise of a total of 596 apartments, 228 one beds, 302 studios and 32 two beds with 36 shops. Prices from 80,000 euros. Two major Tour Operators have already agreed to rent the development. The SALINASEA Aparthotel, on the frontline will consist of 1 bed and studio apartments with frontline pool, restaurant and bar, with the SALINASAND Aparthotel on the second line comprising of 2 bed, 1 bed and studio apartments with spa, stage area, shops, massive pool with beach, panoramic restaurant and bars. We believe this is a great chance to invest in a top quality development which is unique in Cape Verde, in the last major beachfront location on Santa Maria Beach. There will be no plots left in Sal which will be able to have developments of this type directly on the south beach. Add to that the experience of the developers in the Cape Verde rental market, and this seems an opportunity not to be missed. 3 YEARS GUARANTEED RENTAL AT 5%.

Detailed information SALINASEA is ground and first floor in an E shape, with the centre fork containing a restaurant and bar with a large swimming pool overlooking the sea. There are leisure areas with fountains and waterways and sunbathing terraces. Clients who purchase at SalinaSea will have to sign a management agreement allowing rental of the apartment all year, except for 4 weeks, where the owner can use it. These 4 weeks cannot be taken during High Season, which is a maximum of 4 weeks a year. All apartments are freehold and can be sold at any time, but the new owner has to take on the management contract, which will last 10 years. Owners earn a share of the profits of the development after the 3 years guaranteed rental is over.

The first year guaranteed rental pays for the furnishings of the apartment. The owner is able to get out of the rental agreement when the 10 years are up if they want to, giving 18 months notice. SALINASAND is over the road from SALINASEA and has ground, first floor and second floors. The block is separated into 2 areas, with the front area having public access, and a large central stage area for performances, and commercial units on the ground floor. There will be lounging areas and water features. The rear area of SALINASEA will be private and have a massive pool, kids pool, artificial beach, low lying water for lounging, a wet bar, a panoramic restaurant and a rooftop bar with outdoor jaccuzis and also a spa area with pool.

Prices range from 68500 euros for the cheapest studio in SalinaSand to 249,000 euros for the most expensive 1 bed on the front of SalinaSea. SalinaSea and SalinaSand will be treated as seperate comdominiums as far as the management contract is concerned. The spa will be run by a seperate international company and the purchasers should have preferential rates. When purchasers use their apartments they will have full hotel services. Food will have to be paid for.

Standard Payment Schedule. 2.5% to reserve 20% on contract 20% on start of build expected June 2007 20% on roof 20% on interior completion 20% on deeds appox June 2009.