Ciaran Maguire Group invests in Cape Verde

The most of important question Ciaran Maguire has been asked by the investors of Palm View Resort Cape Verde was “What were the main factors of purchasing the land in this relatively unknown part of the world. Ciaran Maguire had successfully made a number of land acquisitions in other parts of Europe but had decided not to make these sites home for his first developments, as he was concerned with the lack of restrictions in building over 4 storey’s properties. Ciaran Maguire knew that this would mean a beach fronted property that he would be building for his investors may well have a further building in front or to the side of the property therefore leaving the unsuspecting investor with a capital depreciating property instead of one which they would capitalize on with both income and growth.

On receiving a comprehensive Feasibility Report investing into Boa Vista Cape Verde their land purchase was made in 2007. It became apparent that Boa Vista would be an ideal location for the Palm View Resort. The Boa Vista Island has a low cost of living benefits from being accessible from all major cities, has its’ own airport and is at an early stage of property investment market with huge potential growth.

The glorious all round sun and fine weather seasons also make this an attractive place to invest, as purchasing overseas means that the investors can be vulnerable to low season dips throughout the year. Flights have increased by 400% to the island over the past few years and ferry’s link to the Archipelago of the other islands of Cape Verde allowing for those looking for thrill seeking adventures to try their mountain biking in Fogo or competing in the yearly kite surfing championships held in Sal.

The climate is likened to the Caribbean with very little rain, and has perfect conditions for water sports such as windsurfing and kite surfing. Its’ home to the Boa Vista Wind Club operated by champion former winder surfer Francois Guy.

The Palm View Resorts Development in Boa Vista is a ten minute walk from the main town of Sal Rei, a picturesque bay with restaurants and local bars full of friendly atmposphere and delicious Seafoods freshly caught and prepared in sumptuous Creole style. This style of dining can be found in the 5 star restaurants at the Palm View Resort Boa Vista where the elaborate furnishes match the outstanding cuisine. The resort will be the first AA rated 5 star complex on Boa Vista and a long awaited place to stay for those that already know and love the islands so well.

The feasibility report mentioned previously gave figures on the growing tourism, lodging capacity of the neighbouring hotel, occupancy rates and room rates. Full details of the report is available by contacting the group of www.ciaranmaguiregroup.co.uk

Why Invest in the Palm View Resorts and Cape Verde

Reason in Invest in the Palm View Resorts and Cape Verde:

• According to an IMF report in December 2009 GDP growth in Cape Verde held at 4% despite the economic downturn with this figure set to increase to 7.4% in 2013
• Growth is expected to pick up, with inflation remaining low(IMF review 2009)

Continued research into the growing GDP per capita found that Cape Verde had reached a higher GDP than South Africa (2011) which is a sure indication that the island is profiting from the private investment and the government’s efforts to driving their tourism industry.

The indicators from the reports show Palm View Resort investors can expect high levels of lucrative growth.  Ciaran Maguire Group feasibility reports shows the growing tourism on the island has risen from 45,000 since 1997    to 382,831 in 2010 and is expected to exceed 500,00 by 2012.

The contribution of travel and tourism to Cape Verdean GDP is expected to rise from 21.9% in 2010 to 30.1% in 2020 (World Travel & tourism Council). The figures for the tourism will be provide confidence in those investors purchasing their beach suite apartments with Most of the apartments have been purchased with retirement in mind and those investing at present have many years to enjoy and many opportunities to see their initial deposit of €6k grow and provide them with a Free Hold apartment at the end of the term and also enjoy rental income which will be produced from their Pension Fund In the Sun. Palm View Lifestyle is provided also to those investors and holiday makers on the Resort, where they can sip cocktails at sundown, dine under the star lit canopy or enjoy the colorful varieties that Sal Rei the town of Boa Vista, offers a short ten minute walk from the apart hotel complex.

Ciaran Maguire Group: Economy of Cape Verde in 2007

Ciaran Maguire Group made extensive enquiries into the economy of Cape Verde in 2007 before the purchase of the land took place in Boa Vista, one of the beautiful unspoilt islands of the Archipelago of Cape Verde just off the West Coast of Africa.  The islands, some which are uninhabited, provided the inspiration for the Irish entrepreneur Ciaran Maguire to purchase the land in Boa Vista which has over 55km of soft sandy beaches and crystal clear waters.  Ciaran Maguire, who came from a family background of developers created the brand Palm View to become amongst the world most renown Resorts in 2007 and has continued to grow the brand with the for sight of land acquisitions in the early 2000.

Ciaran Maguire Group

Feasibility Reports for the company were carried out by professional consultants and the findings were based on economic figures, political stability and the growing tourism and development of the country.  The government of Cape Verde has continued to invest in tourism and infrastructure with new shopping areas, hospitals and health centers with Ciaran Maguire Group.

Between 2000 and 2009, real GDP increased by over 7% per year, well above the average for small islands countries. The economy is service orientated, with a small part of GDP contributing from agriculture and fishing.  (IMF report)