Major scheme launched in Nicaragua

Developer Grupo Mariana Family of Resorts has announced the launch of a major master-planned residential-led resort ‘Seaside Mariana Spa & Golf Resort’ in Nicaragua, Central America.

Located on a 1.2 mile stretch of Pacific beachfront on the country’s west coast, this is the first luxury resort of its size and caliber in Nicaragua.

The country’s fast emerging market is reportedly going from strength to strength on the back of a healthy economy, stable democracy, and low crime rates.

Residential property prices in Nicaragua have reportedly appreciated by as much as 300% since 1997, on the back of greater international demand, fuelled largely by booming tourism levels – up 394% in the last 12 years. Yet there seems to be a shortage of homes to satisfy demand.

Founder and Chairman of Grupo Mariana, Kevin Fleming says: "We believe Nicaragua is now where Costa Rica was when it began to focus on tourism and development, which means that it offers the same type of potential for outstanding returns over time on real estate investments. Those that felt they missed their chance with Costa Rica now have another opportunity."

Real estate laws in Nicaragua allow freehold ownership by foreigners, with the same attendant rights as citizens of the country and can be transferred without restriction.

Seaside Mariana Spa & Golf Resort is situated near the village of San Rafael Del Sur, just a one-hour drive from the capital Managua and its international airport. Spread over 923 acres, the development will consist of 1,350 units including 376 freehold plots, luxuriously designed oceanfront condominiums and golf villas. The site overlooks a magnificent expanse of natural soft sand beach from which the land rises gently to the tree-lined banks of the Tecolapa River, framed by the distant Sierra Mountains. The master plan for Seaside Mariana carefully preserves the natural setting, and all properties will have either Pacific Ocean or golf course views.

The focal point of the resort is Central America’s first Jack Nicklaus Signature Golf Course with complementing clubhouse. Nicklaus says: "I get a great deal of satisfaction in having the opportunity to go into a new country and emerging market, and design a golf course that will not only enhance the tourism in that country but also help introduce and grow the game."

Other five star amenities at Seaside Mariana include the country's first destination wellness spa, a boutique hotel, private oceanfront beach club, an archeological museum to preserve the artifacts found on the site, a resort medical facility, and a town centre with shops, restaurants and cafes.

Construction is scheduled to commence in December 2009 with anticipated completion of phase one in December 2011. In addition to the golf course, phase one components will include residential units, golf clubhouse, spa, beach club and town centre.

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