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58 | OPP AWARDS FOR EXCELLENCE WORDS | Geoff Hadwick


WINNERS


www.opp.org.uk |MARCH 2012 Developing excellence


Each month OPP profi les the winners of the latest OPP Awards for Excellence and gives you the real reasons why the best in the business scooped up the prizes and impressed our judging panel of more than 40 industry leaders from all around the world. This month, we look at the winners of our best developer awards in Cape Verde and across the South-East Asia region.


BEST DEVELOPER CAPE VERDE


Gold:The Santa Mónica Beach Resort & Spa, Boa Vista, Cape Verde


What did Santa Mónica Beach Resort & Spa. Boa Vista, Cape Verde, say in its entry form? “Santa Mónica Beach Resort & Spa is the fi rst mixed-use development to be given planning permission on Boa Vista and it will provide a new benchmark for luxury, contemporary accommodation on the island. It brings together an elite team of globally recognised resort brands and raises the bar for investment and tourism projects in Cape Verde. It will also set high economic and environmental sustainability standards. 5* location: Scattered just 450km


off the coast of West Africa, the Cape Verde archipelago shares the same latitude as Barbados, making it sunny


throughout the year. Hot Saharan winds free the islands from the sort of seasonal weather-changes experienced by other tropical environments, and bless Boa Vista with mile upon mile of soft, silky sand. The six hours’ fl ight time from London to Boa Vista island allows visitors to explore an incredible natural environment with world-class water sports, desert adventures, humpback whale birthing grounds and turtle nesting sites. Cape Verde is becoming known as ‘the Caribbean for Europeans.’ The only downfall is the shortage of high-quality accommodation and local infrastructure to support the demand. Boa Vista is the second island to be developed for major tourism. A raft of ecological disasters and failed developments brought about by the unregulated development of Sal has allowed Boa Vista to be positioned as the upmarket sun and sea destination. 5* Team: Island Resorts is headed by Stuart Law (founder and CEO of the


What does Santa Mónica Beach Resort & Spa do?


Developer Island Resorts delivers holiday villages and resorts in Cape Verde, helping to raise the island’s profile and to provide a benchmark for future development. Their new project, the Santa Mónica Beach Resort & Spa on Boa Vista, will offer a reliable sun and sea destinations and give investors the opportunity to benefit from massive tourism growth and a huge property supply-demand imbalance. The brand has plenty of expertise in its team of well-known development, resort management and global property investment specialists. The company is led by Stuart Law, founder of Assetz plc, and Mark Connolly. Mark’s previous projects include the delivery of Beetham Tower in Manchester and buildings at London’s Canary Wharf. The largest and most prestigious development in Cape Verde to date, The Santa Mónica Beach Resort & Spa, has already sold 30% of its units prior to launch.


Assetz plc group of companies). Savvy investors who follow Assetz’s leading investment and selection advice quickly saw that the company had identifi ed a fantastic opportunity. With Assetz Development, headed by Mark Connolly delivering the project, clients can be assured of the developer’s established presence. Wyndham, the largest hotel group in the world, has been selected to operate the fi ve-star hotel. The Santa Mónica Beach Resort & Spa will fall under its fi ve-star Wyndham resort brand and allows owners to use the group’s resort exchange programme. The world’s leading spa designer and operator, ESPA, has signed contracts with Island Resorts to operate the resort’s 3,000 sqm luxury facility, which will be a global fl agship. 5* Resort: The resort is being built


First class | Santa Mónica Beach Resort & Spa impressed the OPP judging panel


as an open village and a full range of sports, restaurants, bars and shopping facilities will be provided, but not as an all-inclusive offer. This means that families, sports enthusiasts, wildlife enthusiasts, beach lovers, adventurers and honeymooners can feel free to explore the island as they wish. In a fusion of old and new, the resort merges contemporary residences with elements of local architecture, encapsulating


the island’s Afro-European heritage. Mosaic-style cobbled streets, hardwood decking and hand-carved stone features will be used and the resort will plant and nourish hundreds of tropical plant species, creating a Mediterranean garden oasis. The contemporary apartments, villas and hotel suites at Santa Mónica Beach Resort & Spa will exude a luxury personality and character whilst maintaining an inside-out functional living space. The resort aims to set a precedent for future building projects on Boa Vista.


5* Investment: Rapidly increasing tourism, growing demand for high- quality residences, exceptionally high occupancy levels (currently 90%), and a year-round summer climate set Boa Vista amongst the world’s hottest investments in overseas property today. Hotel suites for pure investors start at €85,000, 45% off the HVS valuation … therefore offering signifi cant capital growth. The suites are SIPP-compliant and offer a fi xed rental return of 7% over 10 years with a 60% profi t return thereafter. Private buyers receive a complimentary week’s use per year. List prices on luxury apartments start at just €119,000, with private villas ranging from


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