   
|
Cotton Bay resort with private golf courseAlgodoeiro Bay, Sal West Coast, Cape VerdeCotton Bay formerly known as Algodoeiro BayGianni Mariani, the lead developer of the Porto Antigo syndicate of Italian businessmen, has taken on a very large plot at Algodoeiro Bay which he has translated into English as Cotton Bay. Originally he wanted to buy only half the Cotton Bay area. But the Government in Praia said that it was all or nothing. Spencer Lima, who has influence in the PAICV then took away the best cornerof Cotton Bay to make Paradise Beach. But there is still much more land here stretching from the Espargos-Santa Maria highway right down to 50m from the sea.. The Cotton Bay plots are much bigger than usual - up to 542sqm. Bungalows and villas will be established with their own terrace or garden area and a small individual swimming pool. Cotton Bay villa prices reflect this and range from £366,000 to a mere half million pounds. Studios and apartments start at £100,000- £140,000, the price of villas elsewhere. Building materials will be mostly timber and plate glass. This will mean that air conditioning or heavy blinds will be essential to keep them cool. Unlik other resorts, they do not feature the overhanging balconies and verandahs that help to keep buildings cool. So far nothing at all has been built at Cotton Bay except for a wire fence and a few billboards but there is an established nusery along the Highway producing plants and even signs of some trial grass being grown. It is of a very coarse type possibly related to couch with very thick roots, so let us hope that it flourishes in the sandy, salty soil. Cotton Bay Golf course usage will be restricted to residentsCotton Bay has the obligatory Golf Course project which seems to be de rigueur for all new developments in Sal. What must be a concern is that usage of all 36 holes will be restricted to owners. So presumably these will have to stand the costs of maintenance, including daily watering, which could be extremely expensive. There is also a proposed marina with 300 berths which will be completed before the golf course. Cotton Bay berth prices are higher than at Antibes. There is also mention of a Casino and a football pitch. There is ample space for several on the Cotton Bay estate, which is now semi-sdesert scrubland. Obviously all of this will be dependent upon whether enough investors buy at these prices. Also whether the newly elected Mayor of Sal, Jorge Figuereido who defeated the Italian developers` candidate will approve.. He has already rejected a marina in Murdeira Bay. Mariani and his business associates, part of the Brescia group of businessmen who came to Cape Verde a decade ago has managed to sell Porto Antigo flats at very high prices. So maybe he will do it again at Cotton Bay. The company promises to run a letting scheme but will rents ever compensate for the prices? M from Tyneside is optimistic. "We have bought two apartments in Cotton Bay, a one-bedder for £92,000 and a two-bedroom flat for £140,000, both of which we want to rent out. We were drawn by the fact that it is an emerging market and it has year-round sunshine. Cape Verde is at the right stage of development to make the most of off-plan opportunities and Cotton Bay looks like being the best resort on the island." |