|
05.12.06 1430 MT
|
EXECUTIVE SUMMARY Introduction: A "destination designer resort complex" will be built the North Pacific side of Costa Rica. It will fill the need for hotel/condo units. Designed to be a retirement and vacation destination complex. Included in the complex will be a cutting edge, 80 bed, medical center that includes alternative modalities. Marketed to the USA and elsewhere, the life extension program will create a place to revitalize, regenerate and live on the sunny coast. Affluent people are looking for quality of life and good medical support. Approved plans and permits for a five-hotel/condo complex are in place with a full town center with shops. The Hotel/condo complex generates income from many sources including a 24-hour casino in the first hotel/condo building. This will be the only 24-hour casino in Costa Rica. There are also individual home sites with green areas. The 470 acre ocean front property is fully deeded. Plans, with permits are in place to start construction immediately. The new International Libera airport is a 45 minute drive to the property. There are plans to promote a "World Global Leadership Conference" and a "World Economic Forum" to be held annually on the grounds. Security issues are to be built into the construction, to accommodate the needs of world leaders and individuals. Purpose: The vision of the entire project is to create a "designer resort complex", where one will enjoy a quality lifestyle that includes choice of housing, excellent food, outstanding health care and entertainment. All of this is in a beautiful setting on the Pacific Ocean, providing harmonious living with spectacular surroundings in Costa Rica. Mission: The mission is to create a forum where new ideas can merge with old concepts in a "designer resort complex" setting that has many focus points. This complex will be a world center of Peace and Conferencing, designed to be both a retirement and vacation destination in beautiful Costa Rica. Important aspects of this "designer complex" are the many attractions it will offer. Health, education, entertainment, recreation and conferencing opportunities are all to be found in one great location. There are five hotel/condo planned. Each has been carefully selected to offer different recreational themes, providing the various amenities that will bring the visitor back again and again. All the amenities, such as restaurants, banquet rooms, swimming pools, shops, lounges and convention facilities will be of a high quality resort standard. A highend audio/video recording studio is planned for one of the hotel/condo units. A healthy and conscious lifestyle program will be available to all participants. Opportunity: Costa Rica is like Hawaii was 25 years ago. There is great interest worldwide in the "Gold Coast" area of Costa Rica. It is the fastest growing area of country. This 470-acre ocean front property, surrounded by a Nature Preserve Park, is a prime location in the "Gold Coast". The elevation is such that most of the property has ocean views, with the rest having park views. The master planned complex has been twelve years in the planning stage and now has all of the requisite permits from all branches of the government of Costa Rica to start construction. The site encompasses seven different hotel sites, (The project includes one hotel site, which has been issued with a 24 hour casino licence), an 80 bed hospital and medical facility, two commercial areas, a transient marina facility, many condominium and single family estate lots, recreational areas and support facilities. The approvals have been passed at the highest permissible density for the sites and only await architectural and engineering approvals to start construction. The President of Costa Rica has said that he has a personal interest in seeing this project completed because of the jobs created and quality of life improvements that the project brings to the area. Libera is now an International Airport with over 50 daily flights, with many direct flights. United, American, Air Canada, Air Mexico, Continental and Delta now fly to Libera, which is the port to the "Gold Coast". The area is expected to explode over the next 2-5 years. A highly respected Engineering and Construction Firm in Costa Rica has confirmed in writing, that they are ready and willing to start work on the project. A 66 unit, 4-story condo project is permitted and ready to start immediately. Another beachfront 7-story hotel/condo is 3-6 months from completion of the architectural drawings and design. Costa Rican law offers the opportunity to presale the condos prior to construction and allows for the direct use of the funds for the construction. No escrow hold means cash flow immediately. There are 2 beaches on property. Dolphins and whales can be seen from the sites. A marina plan is in place for boating and sport fishing. Michael Jordan, the basketball star has just purchased a four million dollar villa. The word is out in the sports world about the "Gold Coast" in Costa Rica. A Resort, has raised the cost of their condos to $440,000 and they are selling very fast. Our financials were based on sales of condos priced from $180,000-$250,000 with some higher. Therefore the net profit is greater than shown. Appraised Value: A comparison of established values within a 35 kilometer radious shows average land prices in developments ranging from $200 square meter to in excess of $400 square meter. Taking a very conservative value of $75 square meter, the property is valued at $136,500,000. The appraisal is done by the top appraiser in the country with a 2nd independant appraisal done to back up the first appraisal. Additional Points: The global interest in Costa Rica's natural pharmacy and the bio medical wealth in the area will bring the very best expertise in this field to explore new benefits, benefiting visitors and residence. The property offers the vast cultural riches of the area and is in the most fertile province of Costa Rica and offers a variety of the very best food in the world. Description: DESCRIPTION OF THE PROPERTY DEVELOPMENT STATUS AS OF FEBRUARY 19, 2004 The property has 188 hectares and is located in the heart of the Gold Coast of Costa Rica where some of the best known beaches are located. The property has two access roads, one in the south and another one in the north. The main road is the one in the south, which starts in the NW corner of the central plaza of the town. The distance is approximately 3 kilometers. There are approximately 11 kilometers of internal roads built in gravel and terraces for the construction of sites H2, H3, H4, A2, The medical center and several residential lots. It has single phase electricity along the main road. Also, there are two water wells drilled and equipped that supply 5 liters per second of drinking water. More wells could be drilled as development progresses. All of the lots have a spectacular ocean or valley view, thanks to the varied topography of the property, which goes from sea level to 250 meters high atop the Hill. A Master Plan has been approved by all institutions (INVU housing and building authority,). An environmental impact study for the whole project is approved by SETENA (environmental department), and is kept current through an environmental manager. According to the Master Plan, the total area to be sold is 120.94 hectares (of which only 40% can be covered with buildings), distributed in 99 lots, while 20.2 hectares will be preserved as green runoff protection areas, 10.2 are roads and 36.7 hectares will remain as public areas. The smallest size of lot is 1,898 squared meters. A continuous maintenance program on the property makes it safe, helps to avoid fires and keeps it clean for a good presentation. PERMITS & EXISTING PLANS 1. Master Plan and Environmental Impact Study As indicated, there is a Master Plan and an Environmental Impact Study, are properly approved and up to date. 2. Survey The entire property has been surveyed. There are thousands of GPS total station points recorded. 3. Urbanization Construction Drawings The construction drawings for the entire infrastructure of the urbanization indicated in the Master Plan are also properly approved by INVU. 4. E27-34 Site This site is planned for 66 condominiums and a small hotel. The condominiums have the complete construction plans (electrical, structural, etc.) approved by INVU, the College of Engineers & Architects. What is needed to update them is to take them to the College of Engineers to calculate an updated price and to pay 1% to the Municipality for the building permit. Also, the permit for the wastewater treatment plant has to be obtained. NOTE: Preliminary construction has already taken place, with terraces, 20% of the perimeter fence and most of the gray work of the pools completed. 5. H3 Condo/Hotel site The condo building of H3 hotel complex has the construction plans ready to about 60%. The preliminary approval for a seven-story building has been granted. 6. Desalination Technology There are letters of support for the use of desalination of seawater technology as a source of drinking water. The construction plans for the desalination plant must be submitted in order to obtain the proper permits, from all the involved institutions (SETENA, AyA Water Authority, Department of Waters of MINAE, Municipality of Santa Cruz, Ministry of Health). There is a lot of information available on this subject on file. EXISTING INFRASTRUCTURE 1. Roads As mentioned above, there are approximately 11 kilometers of internal roads in gravel. The main road is ready for asphalting, with a right of way of 14 meters. 2. Terraces There are terraces for the construction of sites H2, H3, H4, A2, Medical Center and several residential lots. 3. Electricity There is single-phase electricity along the main road. The local electric company will provide the electricity service to the properties. 4. Water There are two water wells already drilled and equipped for 5 liters per second of drinking water. Also, as previously mentioned, there are letters of support to use the desalination of seawater technology as a source of drinking water and asking to present the construction plans to issue the proper permits, from all the involved institutions (SETENA, AyA Water Authority, Department of Waters of MINAE, , Ministry of Health). 5. Telephones and Communication ICE (the Costa Rican Institute of Electricity) will provide all communications required o each development. 6. Garbage The (local government) is responsible for garbage collection and will provide the service. 7. Sewer Treatment Each hotel, condo and resident will provide their own state of the art treatment facility according to their particular needs. D I S C L A I M E R The information contained in this document has, in many cases, been obtained from or based upon documents, consultants, agents and/or other public or private sources and has or may not have been independently verified. Certain agreements or documents are described in a summary or abbreviated form. Thus, factual and other statements may not be a complete nor necessarily true or accurate description of the entire document or its affect and meaning. You and your experts are encouraged and expected to independently review the actual documents and entire agreements and conduct and rely solely upon your own independent due diligence investigations. To the extent that any projections or forward looking statements are or may be provided herein, they are for general reference or illustrative purposes only. As such forward looking statements are based upon many assumptions, projections, estimates, risks, current expectations, uncertainties and general economic conditions which are all, by their very nature, variable and uncertain, and therefore, you should make and rely solely upon your own independent investigations, projections, and experts without reference to or reliance upon these materials. The information in this document is not all-inclusive and may not contain the critical information, which a prospective purchaser may consider material or important. Owner and Advisor make NO representations or warranties of any kind or nature and specifically disclaim any representation, warranty or promise as to the accuracy, usefulness or completeness of the Information. This not a solicitation for funds but is for informational purposes only.
|
