Tortuga Beach Resort Property

West Coast , Sal Algodoeiro Bay near Vila Verde

Just south along the West Coast from Paradise Beach, this will be on a narrow strip leading back from the coast in the middle of Algodoeiro Bay as far as the boundary of the Vila Verde resort, which occupies a triangular plot from there to the Espargos-Santa Maria Highway.

It is being built by The Resort Group a company based in Gibraltar. Sales are handled through a British subsidiary based in Derby. The company was established by Robert Jarrett a financial adviser who has moved from Derby to Monaco. The land is owned by Sociedad Onnipessoal of Praia, a Cape Verdean Company.

The name is Spanish for turtle beach. It is a relatively small oblong plot with a short frontage onto Algodoeiro Beach. Apartments, a small hotel and villas are planned. Prices for the villas from £180,000 for 120sqm three bedroom unit on a garden plot of 500sqm. It will eventually have 12 4 bedroom bungalows on the beach line, with 40 two bedroom villas behind. There will also be 306 two bed apartments.

It will have two swimming pools and shared garden areas. It proposes an hotel with the option to let private properties for owners but without stating any rent guarantee. Plans include a restaurant and bar as well as a spa and gym.The land purchase was delayed an only completed in 2008 but approval has been given by Cabo Verde Investimentos and contracts to commence building were let in June 2008.

"I visited Sal and I still have a deposit on a 2 bed apartment on Paradise Beach at €120,000 (of which I am still undecided in pursuing). The same size apartment on Tortuga Beach (86 sqm) is €183,000 virtually next door to Paradise Beach. I would like to understand what is so great about this development and where future gains lie with such uncertainty regarding growth, resale and rentals."

T from London has other worries

"As far as I am aware Tortuga does not have planning, although I suspect this has been applied for but not yet approved, as is the case with Dunas. Both are 'planned' by the same developer - Worldwide Property Portfolio. This brings me back to my original concern. This developer is trying to lure people into paying deposits by offering discounts if they pay their hefty deposit within 12 weeks. When you sign the reservation form they don't tell you (and neither does the Agent) that they don't have planning permision and don't even own the land....and then when you find this out, you can't back out without losing your £4000 (or £6000 in the case of a villa)!

They also try to lure you in by offering free legal fees, which is pretty useless if the same solicitor also acts for the developer because this obviously creates a conflict of interests. In addition they offer 'incentives' like free air conditioning and free furniture but all this really means is that you need to 'risk' paying more money up front to get these 'freebies'......and guess what if you change your mind and decide that you want to do without the freebies and pay less up front....well, tough they'll tell you that you can't change your mind and that you have to stick with the decision that you made on your reservation form!! Vila Verde looks like a good decision....and even better for you if Tortuga doesn't get planning permission but very sad for all the people that will have paid deposits on Tortuga Beach. To be honest it isn't all bleak. There's a clause in the contract that says that if they don't own the land or having planning permssion within 3 years then I can have a refund.....BUT, how much interest will I have lost on £38,000 in 3 years?!! "

Worldwide Property Portfolio was dissolved on July 4 2006