Residential Tourist Town in Villa El Carme
El Nuevo Diario, January 15th, 2007.

- Investors see that in Nicaragua tourism development can evolve in the same way it did in Costa Rica.
- “ Two families of investors will be the pioneers in living here”
- “Ideal to escape from the frosts of North America and begin enjoying the landscape and tropical climate.

Looks like a manifestation, but these are the investors from Gran Pacifica while visiting the Project and where they were able to see all the project progress.

Mr. Michael Cobb and Mr. Joel Nagel, Directors of Gran Pacifica

“You can see the houses of the town already”, said Mr. Michael Cobb, Executive President of Gran Pacifica, to summarize the progress occurred in the project. The master plan will be finalized with the construction of a commercial plaza, a five star hotel, a condo-hotel of 88 units, a golf course of 27 holes and 300 lots with their respective houses.

“Up to now, 12 million Dollars have been invested on studies, design, urban planning, permissions and infrastructure construction. All the buildings to be constructed will have a Nicaraguan Colonial style, based on the constructions of Leon and Granada with all basic services” said Mr. Cobb.

The Gran Pacifica project is precursory of the resident tourism that brings double income to the country. It stimulates the development of different sectors by generating employments not only in the construction area, but also external services and taxes.

“Two families of investors will be the pioneers in living here. We don’t doubt that many other families will do the same, because these investors see that Nicaragua will be the next Costa Rica. Also they want to have a site where to spend vacations, an extra income for property rentals when they are not using their properties”, explained Adiak Barahona in charge of Marketing.

Mr. Barahona also mentioned that the Gran Pacifica has acquired property in Costa Rica and plan to acquire more in Belize and South America to offer diversity, the idea is to become a regional developer of the residential tourism industry, having Nicaragua as the center of operations.

Las Perlas

Fifteen percent of the Gran Pacifica was made by Nicaraguan citizens, while the other 85% is formed by Canadian and North American investors. During the Gran Pacifica Annual Event and visit to the project, - which began its dirty movement in year 2000 - , the investors could observe the completion of the sewage systems, potable water, optical fiber, underground electricity streets, sidewalks and traffic circles, as well as the advances of Las Perlas Condo-Hotel.

Las Perlas is a complex with 4 different buildings with 88 apartments in total. The first building is almost concluded, and out of 22 apartments, 19 have already been sold. Two of the buildings will have ocean view, while the third building will have a complete view to the golf course. The total investment of this Condo – Hotel is U$20 millions Dollars.

With or without

Executive President, Michael Cobb, emphasized that this year will began the groundbreaking where an international hotel will be located. This international hotel will be constructed with the Bond Law of Tourism Incentives or without it. “Our Architect is working on a re-design for the colonial plaza and the 250 room hotel, which will have 5 star services”.

He also mentioned that to see the entire Gran Pacifica project finished in all his dimensions, 20 years will be necessary. In spite of this, he was optimist by the advancements of all the constructions. It is necessary to emphasized that after buying a lot, which prices oscillates between $60,000 Dollars and $300,000 Dollars, the owners must begin to build within the next 24 months after the purchase of the property.