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Ponta Bicuda, SantiagoPeninsula development near PraiaPonta Bicuda is a peninsula close to Praia airport at the south of the island of Santiago. Editur a Cape Verdean developer is collaborating with the Portuguese company Design Resorts a resort operator to build over 65 hectares of an entire peninsula. There is the promise of a hotel to be run by Tiara resorts from Portugal. There will eventually be three Phases, each with different architectural treatment. The first features Portuguese Colonial styles. The resort is aimed particularly at the British and Irish, as the Cape Verdeans have appreciated that they are the only high-rollers in town. To this end, they propose a cricket pitch and a church. Some apartments will be sold under an hotel management contract and available to owners for just 4 weeks a year. Others will be sold freehold, without management. Prices are from £50.000 up to an incredible £1.1m. S from London is optimistic about flights to Santiago"I have bought on Ponta Bicuda. The deposit is only 40% before completion, which is a lot less than most developments, although this may change. The rental guarantee is handy if you do not want the hassle of being a landlord. Its not due to be completed until late 2009/early 2010 so by that time its likely that direct flights from the UK to Santiago will be available."J from Surrey has found a serious flaw. "I've just heard that the 5 year rental guarantee is tied to a 10-year lease-back contract. So after the first 5 years you must still leave the property with the hotel for letting. But they have no obligation for occupancy or income. This is a negative for as occupancy falls, the hotel will want their 5-year guarantee customers satisfied first. Those in the second 5 year term just get what's left. The owner will be disadvantaged both for income and for resale. "He hesitated and assessed the options"I'm considering buying although still assessing the pros and cons - looks OK on paper - but then I have witnessed some sorry tales in Spain where large developments never completed so buyers ended up with a 20+ year building site - not so exciting. Doubtless the developers will only build against sales so would be interested to learn of %age take up so far if anyone knows... I owned a place on a similar scale in Spain for 15 years - on the Costa Brava - all canals and villas with moorings - first five years of build in the place was a sea of cranes and cement mixers. We bought there ten years in when it had attained a good size of operation offering commercial alongside residential in enough quantity and quality - 15 years later it was time to go as the resort had overgrown and deteriorated considerably - overcrowded and poor quality alongside. The general feel and potential of this place looks good but it's a bit like painting a dream which is a long way off from the reality - maybe 2009 completion will go Amanha-spiral into 2010 or even 2011... take that rental option up front perhaps... I hear constant rumours that direct flights already have started from London to Santiago but have yet to find details on the web - even the apparent Birmingham to Praia flight is elusive...but I am sure they will come - just a case of how soon. Certainly, as soon as the tour operators get in on the act they will make things happen - I remember in central Florida that they more or less built their own airport in order to guarantee access. Lots to consider... but then there's that old saying ' he who hesitates....' Decision time sooner than later therefore."But eventually he postponed "I never invested in the end - although the short-term market looked buoyant, I felt unsure about the forward position so have held off buying anything for the time being. I suspect that there may a few developments that may slow down as investment dries up - buyer`s market now with so many to choose from and still. - I did, think, however, that it would go ahead as it was advertised as being fully funded. "W from Essex feels that some are selling better than others"The status in mid-2007 was that all 2& 3 bedroom villas facing the bay to the west were sold but the cliff edge 1 to 3 bedroom apartments were not selling well. Only a few of the villas facing the sea to the south have been sold, but there are still plenty left. It seems the view toward Praia is more desirable and less likely to be screened from the sea by later building"L from Sussex is debating two rival sites on Santiago"I have just returned from a tour of Sal, Santiago and Sao. Vicente. The developers of Samabala are at least two years ahead of competition and this will give them a significant advantage. This is still a very poor but fascinating island where building a resort will not be easy. Everything needs to be shipped in and there is a very small skilled workforce. Do not understimate the difficulties involved. Sambala is in a great position with a fabulous beach. It can be quite windy but acceptably so. The quality is good and the finished product will be of a high standard. Ponta Bicuda is close by and whilst I didn't actually visit the site it looks reasonable from a distance with a relatively small beach. The plans look good. They are both close to the airport and Praia. Anybody buying on this island should visit it before buying. It is very interesting with very friendly people. It is however very poor and windy with a lot of litter. The sun shone for 14 days out of 14. Over a 5 -10 year period it will develop into something special. I am delighted to be purchasing here. Sal, I grew to love. It may be flat and boring but it does have great beaches. Morabessa was by far the best hotel. Sao. Vincente was very windy but will be the party island."J from Hants has not even been there "I have been looking at both Ponta Bicuda and Sambala. Of the two, I would plump for Ponta Bicuda which looks, from the brochures and plans at least, more exclusive, more modern and altogether more stylish. I like the location, too, within a few miles of Praia. I feel that at Sambala it is totally enclosed within a compound with little chance of interaction with local people and amenities...which there will be one day, I would hope. My big question, though, is if CV really is going to develop in the way everyone seems to think. Is the climate really that good? I hear a lot of complaints about high winds."J from London got a shock when he went there"Before deciding to invest in the Ponta Bicuda project, I suggest that you visit the location. I was very surprised to discover that contrary to all of the promotional material (brochures, website, advertising) the development is on a very flat terrain totally surrounded by 90 metre cliffs. The terrain does not slope down towards the sea. The small beach is only about 100 metres in width and down at the bottom of the 90 metre high cliff and very inaccessible. Only properties on the edge of the development will have a sea view from the cliff edge(90m below)and the properties behind will only have the view of the property in front due to the flatness of the terrain. Properties looking out south west and west (about 50% of the project) will look towards the busy industrial Port of Praia only 1km away (which is due to expand eastwards towards Ponta Bicuda) and also the growing new industrial zone, the huge petroleum storage tanks and al very poor and ugly slum district of Praia. I believe, like others, that it is very important to visit all sites before investing."Vicente is an engineer at Ponta Bicuda. The initial number of apartments at Cor Di Mar was 260 and we've reduced it to 240 for aesthetic reasons. We’ve removed a floor from the right wing of the hotel in order to lower the overall volume. As for the show house, an initial plan was to build three show houses in different styles, but then our agent suggested a portacabin. We've installed one with a garden and we changed the overall plan of Coladera. This changes the existing heights and we can’t just build a villa in a place that is going to be several metres higher or lower. We will build it after the earth works are completed." |