A number of new developments are helping the west African country of Cape Verde to establish itself as a luxury tourist and golf roperty investment destination, according to Emma Kennedy. The Cork based firm Cape Verde Development is a driving force behind the ongoing transformation of Cape Verde, and its latest development promises to help the country to establish itself firmly as a luxury tourist destination and golfers’ paradise.

Cape Verde is a melting pot of culture, due largely to its location. The mix of European, South American and African influences are evident in its architecture, food and even its music. The ten-island archipelago, which is situated off the coast of Senegal, lies about five and a half hours flying time away from Boston, three and half hours from Brazil and one hour south of the Canary Islands.

In 2001, about 110,000 visitors traveled to Cape Verde. By 2006, this had increased to almost 300,000 tourists and estimates for last year suggest that tourist numbers increased to 330,000. Cape Verde hopes to attract 500,000 tourists by 2010.The latest project from Cape Verde Development, the Baia Das Gatas Golf and Beach Resort, is a joint venture between Cape Verde Development and local company Baia Investments. Tom Sheehy, managing director of Cape Verde Development, said the joint venture was working well, as it combined international ideas with local knowledge.

The 322 hectare site for the Baia Das Gatas development is located on the island of Sao Vicente and is a ten-minute drive from the island’s capital Mindelo, a bustling port town. Baia Das Gatas has all the ingredients for a luxury resort, lying at the base of dramatic mountains on golden sands and turquoise waters.The Baia Das Gatas development is planned as a five-star luxury resort. Building work at the site will get underway this year and the first phase of the project is expected to be completed by 2010 or early 2011.

The resort will include a five-star luxury hotel, a destination spa, two golf courses and a windsurfing school, which is being developed by world renowned windsurfer Josh Angulo.The resort will also feature a marina, a commercial area and a selection of apartments and villas. About 500 residential units will be released for sale in the first phase, which will launch in the second quarter of this year.

Cape Verde Development announced a partnership with luxury hotel chain Nikki Beach last year, which will see the Miami-based hotel and entertainment company build a Nikki Beach Hotel and Club at the Baia Das Gatas resort. Nikki Beach will also run the Paradise Beach Resort, another Cape Verde Development project on the nearby island of Sal. This resort is currently under construction and will be run by Nikki Beach once it opens next year.The hotel chain is also partnering with Cape Verde Development on the Fortim Mindelo resort, which is being developed on an elevated site overlooking the port of Mindelo.

Another key feature of the five-star Baia Das Gatas resort will be a championship golf course, run by the PGA and designed by golf star Ernie Els. Cape Verde Development announced last year that it had signed an exclusive deal with Els and PGA Golf Management to develop, market and operate golf courses and related facilities on the islands of Sal and Sao Vicente. Under the terms of the deal, Els will deliver three golf courses on Sal and Sao Vicente, along with some property, over the next ten years. Two of the courses will be constructed on the island of Sao Vicente as part of the Baia Das Gatas Resort - an 18-hole PGA championship course and a nine-hole PGA family course.

Cape Verde’s landscape and climate make it a great location for golf, something that Els sees as a means of branding the island as a tourist destination.‘‘We really want to bring the island feel into play,” Els said. ‘‘We got some space on the water to build some golf holes. Normally, developers just take that up because it is prime real estate. Working with Tom and the guys we really tried to reiterate to them that the golf aspect of the development is really the big draw.”

To add to the luxury at Baia Das Gatas, another well-known hotel chain is expected to join Nikki Beach at the resort. Sheehy said that further details of the large resort hotel will be announced later this year.Prices for Cape Verde golf properties in the Baia Das Gatas Golf and Beach Resort start at €125,000 for a one-bedroom apartment and €175,000 for a two-bed apartment. Villas in the resort start from €299,000.

Property investors seeking a little more luxury have the option of purchasing a branded Nikki villa or Ernie Els villa, with prices starting from €2 million each. Each villa at The Els Residences will comprise five en suite bedrooms, and will feature a guest apartment, home theatre, games’ room and a fully equipped fitness room.    People considering buying property in Cape Verde should add roughly 8 per cent on to the cost of their property for all associated purchasing costs, according to Sheehy.He said the additional 8 per cent would cover the Cape Verdean equivalent of stamp duty, legal fees and all other sundry costs.
   
Unemployment is high in Cape Verde, but it is moving steadily downwards. Sheehy said that development on the islands was creating more jobs and having a regenerative effect on the country’s economy.    Victor Fidalgo is president of Cape Verde Investments, the Cape Verdean investment promotion agency. He said the country’s unemployment levels had dropped from 24 per cent in December 2005 to 18 per cent in December 2006.Estimates for December 2007 suggest that unemployment stands at just under 15 per cent and a target of under 10 per cent is in place for 2011.

Fidalgo said the country was expecting total foreign direct investment of €8 billion by 2011. ‘‘Some projects are already going on and more are starting in the coming months, which are creating new jobs and also increasing the average income for Cape Verdean people,” he said.Despite its rapid development, Cape Verde has no desire to ruin its landscape with ugly tower blocks of apartments, having learned from the mistakes of more established tourist destinations.

The country’s planning laws reflect its aim of incorporating tourism into the local landscape, with a number of building restrictions in place including stipulations on the height of developments and their proximity to the beachfront.Sheehy explained that the planning laws were strict, which he said was 'good for everyone'. He said the Cape Verdean government wanted to develop a ‘‘quality tourist destination’’ and did not want high density development.

Cape Verde Development has diversified its marketplace, and its sales reflect that. Initially, the majority of its sales were in the Irish market, but now it is seeing more sales in Britain and Scandinavia.Sheehy also predicted that about 12 per cent of all new developments would be sold to Cape Verdeans, with the country’s large ex-patriot community keen to return as the economic situation improved.

Reaching the islands is becoming easier, with the airport on Sao Vicente likely to receive international certification within the next six months. There were direct flights from Ireland with Falcon, but the tour company stopped offering the service, something that Sheehy attributed to the lack of hotel beds available for tourists at that time.He said tour companies and airlines would be likely to offer direct flights from Ireland once the necessary accommodation was in place to meet the demand. In the meantime, Irish investors and holidaymakers must travel via a European hub, such as London, to reach the international airport of Sal.

TACV, the national airline carrier for Cape Verde, has recently started direct flights from London’s Stansted airport to the archipelago.