Cape Verde looking to boost Real Estate

On August 3rd we created a post to inform you of Cape Verde's first International Construction and Homes Fair which at the time was due to take place during the first fifteen days of August. We have just learned that the dates have altered and that the first real estate event of this kind in Cape Verde will be held on the weekend of the 23rd through to the 25th of October.
You can obtain more inforamtion at http://www.portugalcaboverde.com/.

Cape Verde Taking Care of Real Estate Growth Demands

Cape Verde plans on remaining the shining example of a developing economy that uses aid wisely to invest in its own sustainable growth. Due to its climate, Cape Verde has always been short on water supply, now with the investment property market and hotel industry growing – Cape Verde has chosen to tackle this issues sooner rather than later. Japan, who has taken an interest is Cape Verde since it’s independence in 1975, will be giving Cape Verde approximately 10M€ specifically to fund the creation of new drinking water production systems in the Islands. In addition, the capital city of Praia is also increasing its water resources by doubling the desalination capacity by year end and by installing a 5.000 cubic water facility in order to bring the total available supply per person per day to 82 litres, which is just above the World Health Organization recommended amount. Legally all real estate developers in Cape Verde are required to provide properties with their own water desalination systems.

Construction Update 14

As reported in our last Construction Update, the first stage of construction at Tiara Tedju, Coladera and Tiara Cor di Mar– ground works and land modulating – is now finished. However, due to the complexity of the next stage, a new construction company will be contracted, and this process is temporarily postponing launch of the second phase of construction at Ponta Bicuda. We will, of course, let you know which company will be attributed with phase II of construction, the new launch date and all updates pertaining to Ponta Bicuda so remember to keep checking back with us right here.

Looking Ahead and Holding Steady

Cape Verde’s politicians have to this point been very smart in their dealings with the international community, and from the overseas property market perspective, the archipelago is firmly on the map.
- Tourist numbers are still climbing
- Overseas investment is too
- Cape Verde has embraced as many international organizations as it can
- Infrastructures are tangibly developing (roads, transport, services, education, health...)
- And the government is now in the process of approving tax cuts and maximizing fiscal benefits for home owners, in an effort not only to shield from the crises, but indeed to take any advantage that can be gained from it.
CV 's Prime Minister José Maria Neves now urges business owners and investors in Cape Verde to do their part; innovate, provide quality goods and services and invest in an ever promising future!

Construction Update 13

We’ve completed the levelling and the platforms for both Tiara Tedju and Coladera! Cor di Mar is still being modulated and should be complete by the first week of January. The next steps are happening on the ocean front, where we have to build protections against the, sometimes sheer strength, of the sea. The tender for the concrete stage for all properties is due at the end of the current month and a decision is expected for December.

Yes. These have been a long time coming, but we think they are well worth it! If seeing is believing, you now know that Ponta Bicuda has already changed the landscape of Cidade da Praia for ever!

Construction Update 11

Somme great construction update pictures just in from Helder Riberio, our Design Resorts College who has just returned to Cape Verde. The first picture is Cor di Mar in July and the second is Cor di Mar in August.

Green Real Estate!

Keep your eyes peeled for the following terminology "green real estate", "eco brokerage" "sustainable real estate investment". With REITs (real estate investment trusts) announcing 7.5% increase in property value and 3% increase in rent values after having bought up half empty office buildings to give them fresh green starts, this has become the industry buzz . Insiders confirm that with demand growing, sustainable construction prices are noticebly falling and the world's leading top quality projects, both in the residential and office sectors are almost exclusively environmentally friendly.

Construction Update (10)

Are nt pictures worth a thousand words!? The first picture (before) was taken in January of this year, and the second picture (after), was sent to us earlier this month from Ponta Bicuda, Cape Verde.

Construction Update (9)

As you can see from the image, last week was an exciting one for Cor di Mar. With a great BIG BANG down went the cliff. By now all of the machinery we have so painstakingly described is making its way down to begin ground works, now much closer to sea.
Is this grass not the single most resistant natural fibre you have ever seen!?

Construction Update (8)

So its true! The grass is greener at Ponta Bicuda! As you can see ground work continues steadily and with a closer look, the terrain is really beginnning to take form.

In an attempt to really communicate construction progress we have asked our double-duty on- site Project Manager and photographer extraordinaire to take pictures from precisely the same spot everytime so that we can monitor progress more specifically.

Construction Update (7) and other Updates

Yes this is still the place to find construction updates on Ponta Bicuda!

Many of our readers have expressed concern regarding the frequency of construction updates, and it seems as though we have responded by changing the name of our blog!

We would like to assure our readers that construction is progressing at a desirable pace – but at this stage we are having difficulty conveying this progress via pictures. Tractors, trucks, bulldozers and compactors remain on site and continue ground works at Cor di Mar, Coladera and Tedju.

Construction Update (6)

As construction keeps on as expected and according to the announced schedule, the truth is that we have found there to be little earth-shattering news to report – but there has been plenty of earth shattering going on!

Just for your information, since day 1 of construction 180 000 m3 of earth have been moved! So that practically each house gets a breathtaking view, 140 000 m3 have been used for levelling the terrain, and the remaining 40 000 m3 will in due time get placed. In real terms this represents just over 1/3 of the land mass that will get moved around at Ponta Bicuda in this phase of construction.

Construction update (5)

The slopes and platforms that will house the villas for Coladera and Tedju are now shaped, giving the visitors a clear perspective of the real views of the villas.
Cor di Mar still requires a long excavation. No one ever said that moving half a million square meters of dirt and rock would be an easy task! I am really proud to be part of it....

Construction update (4)

Health and safety at work

Each construction work is different from the other and it's always impossible to anticipate all the issues we're up to. In Ponta Bicuda, Cape Verde we're facing a problem we were not anticipating.... the dust!
We're exceeding the local legislation in terms of health and safety at work. All workers are required to wear hard hats, protective footwear, and high visibility vests. But when it comes to dust protection, besides the masks we've got two 8000 lt. tank trailers irrigating the site on a permanent basis and that is what makes the real difference. What about that?

Construction update (3)

In Ponta Bicuda – Cape Verde the excavation works are now proceeding at a deeper level, where the predominant element is the hard basaltic rock. The builders are using high power explosives to crush it and the resulting debris is then removed using the hydraulic power of the excavators.

Construction update (2)

We’re currently working in four fronts of excavation in all the Ponta Bicuda peninsula using the following equipment:

Heavy Excavators
Heavy Excavator Fiat-Hitachi FH450 with hoe ram
Excavator Hitachi Zaxis 280
Heavy Excavator Hyundai R450LC-7
Excavator Case 9046

Other Heavy Equipment
1 Track Dozer Caterpillar D8L
2 Track Dozers Caterpillar D6R
1 Track Dozer Komatsu D65
1 Motor Grader Volvo 780A-VHP
1 Motor Grader Caterpillar 14H
1 Compactor Hamm 3616
1 Compactor Hamm 3516
1 Tractor MF with cistern
1 Tractor Case with cistern
1 Front wheel loader Caterpillar 966G-II
1 Articulated Hauler Bel B25
2 Trucks Volvo N10
4 Trucks 6x4 - 20 Ton

For up to date information regarding the construction process, please visit regularly this blog.

Construction update (1)

We're now excavating and moving rock and dirt in the Ponta Bicuda site. The construction started according to the project, at the end of November it was then interrupted for Christmas, and it's now at full steam - MSF the contractor who's in charge of the excavation, is now working 7 days a week with more than a dozen heavy machines in order to finish on time.

Check for update next week