aa3 rated bank backs first cape verdean property development
on unesco world heritage site
Vila Jardins do Oceano, a front line coastal development on the island of Santiago, has just become the first in Cape Verde to be fully bank bonded by an AA3 rated bank, underlining the investment potential of the project.
£150 million in foreign direct investment was poured into Cape Verde in 2006 and tourism is now slated by the government as the primary engine for growth. Therefore, the availability of a secure property investment, which is financially backed by a large bank, will offer more appeal to investors.
Villas Jardins do Oceano is also unique in other respects. The project is built on Cape Verde's only UNESCO World Heritage site and uses its own desalination plant to create 200m3 water per day, more than twice its usual requirement; the remainder being stored in a reservoir. The development has also organised a cooperative alliance with local authorities to maintain and improve the quality of the beaches, which are a nesting area for breeds of turtles.
For further information on Vilas do Ocean please visit the project page or get in contact with a Future Properties representative.