Wednesday, April 1, 2009

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.

No comments: