28
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PROPERTY PEOPLE
www.opp.org.uk
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JULY 2009
DEVELOPMENT FOCUS
WORDS
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Alex Evans
Y
INDUSTR
Green credentials
Passionate about sustainability and reducing the carbon footprint of residential resorts, Frank and Kimberly DeLape
hope to inspire other developers with a new approach to development in Panama
PEOPLE
“Live fully but tread lightly” is
the mantra of Frank and Frank & Kimberly DeLape
Kimberly DeLape, the Forbes Frank DeLape is the founder, chairman and CEO of Benchmark Equity Group, established in
500 listed owners of Island Living
1994, which facilitates equity and debt financing through investors and other designated funds.
Resorts (ILR) who have created the
For over 20 years, he has helped nearly 20 companies to grow or recapitalise. Seven of these
‘eco-luxe’ Emerald Monkey brand.
companies have become publicly traded NASDAQ-listed companies and three have been sold,
The first Emerald Monkey resort,
collectively generating a market value of over $3bn. Having held management and directorial
positions in multiple industries, such as investment and finance, pharmaceuticals, and real estate
which is being constructed on
development, Frank embarked on a personal project with wife Kimberly, the CEO and founder of
TION
Shepherd Island in the Bocas del Toro
Island Living Resorts, to build the Emerald Monkey Eco-Luxe Resort and Residences in Bocas del
region of Panama, is being promoted
Toro, Panama. Both Frank and Kimberly are active supporters of UNICEF, and were presented with a
as the first completely carbon
Humanitarian award for their commitment to health improvement in 2008.
neutral luxury resort. Frank DeLape,
DESTINA who oversees the construction and
operational elements of the project, are from renewable sources to water Caribbean side of the islands, it has financing package for the first 30 units
tells OPP that ‘zero carbon’ is an management. Part of this rigour is to a very similar geology and climate is already securing reservations.
unrealistic goal for any developer offset the shipment of villas from Bali, to Bali. “Europeans have access to a “The fractional units will be
– despite hydro-electricity for the where they have been designed, built, unique beachfront property in the managed by Preferred Hotel Group,
resort’s power and drinking water inspected and dismantled. “We looked Caribbean, and US buyers have a which has allowed us to build the
piped in from the Panamanian around the world to see which society Balinese paradise on their doorstep,” Emerald Monkey brand,” says Frank.
mountains. had invested the most in sustainable adds Kimberly. “We decided not to work with brands
“Our carbon control begins from communities, and Bali came top of the ILR is working with consultancy like Marriott, Ritz Carlton or Starwood
the completion of the development,” list,” adds CEO and founder Kimberly The Best Group to structure fractional because the experience tends to be
BUSINESS
he says. “We have gone through a DeLape. “They combine indoor and sales options, and Richmond Green the same wherever you are. We are
brutal Environmental Impact Analysis outdoor living in their architecture, Group is helping it to build an agent looking at vertical branded hotels like
to measure and manage the impact of and that is what we will deliver with network to sell in Europe and the Sixth Sense and Banyan who are more
this resort.” Emerald Monkey.” US – with dedicated distribution open to our eco-luxe concept. This is
Unique to ILR, as far as OPP is managers for each territory. With villas only the genesis of the brand concept
aware, is the recruitment of a Chief Balinese balance ranging from mid $500,000 to $2.5m, for us, but we have already been
Conscience Officer to rigorously This Balinese design and lifestyle has and full completion by the end of approached by several developers
explore every detail of the resort to growing appeal among the buyer 2010, it hopes to release 76 units in who want to build Emerald Monkey
OPER
ensure its carbon neutrality – from markets of the US, UK and Europe phase one (due in November) and 130 projects.”
VEL
whether the Balinese wood and stone that ILR is targeting. Located on the units in the second phase. A bespoke Explaining the concept of eco-
DE
TING
ARKE
M
Sense of balance
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Reflecting the Balinese indoor/outdoor living concept, each bedroom will have its own walled garden with a granite bath and shower, plus a plunge pool.
Resort amenities will include two main pools, one with submerged lounge chairs and both with a bar and grill plus restaurant, spa, diving centre and butterfly farm.
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