Santiago Island, home to the capital Praia, which literally translates as Beach, is the cultural heart of Cape Verde.

Vila Jardins Do Oceano is located on the Southern coast of Santiago Island near Cidade Velha, a small town with its commanding Portuguese fort and awesome views into the deep Riberia Grande, the stunning backdrop to Vila Jardins Do Oceano

At only 30 minutes from the International Airport, Vila Jardins Do Oceano is extraordinary, offering an ideal setting to escape to.

A selection of 2 & 3 bedroom villas, all having an en-suite bathroom, a family bathroom, separate kitchen, dining area combined with spacious lounge area. The lounge & main bedroom lead out onto the terrace which has a private pool. All have a covered car space.

All properties have a guaranteed ocean view and come complete with their own private freshwater pools plus the freedom to use the onsite infinity pool; Cape Verde's first!

Over a third of the site will be landscaped gardens and iconic commercial buildings will be designed in the shape of ships with sails on the upper deck and including two restaurants.

Location

• Sheltered Southern coast of Santiago
  
• Walking distance from Cidade Velha (applying for Unesco world heritage status)
  
• Beside the Riberia Grande and the historic Portuguese fort, Sao Real Filipe (tourist attraction)
  
• 25 minute drive to Praia
  
• 30 minutes from Santiago International Airport
  
  
  

Infrastructure Onsite

Roads

Cobbled single line roads with passing bays

Electricity

Onsite electrical generator (consistency of power in shortages)

Copper wiring

Fresh Water

Onsite desalination plant ensures fresh water in all pools
When fully occupied plus 20%, VJO will ensure 350 litres of water pppd (in the UK we use about 250l pppd, so no running out of water )

Desalination plant with back up generator that produces double the site usage

Encased sewage treatment plant (low noise, no smell apart from yearly desludge)

Front line development

• 40 - 2 & 3 bed private villas with private pools
  
• Freehold
  
• All guaranteed ocean views, all properties on different elevation rates
  
• Highest specification villas currently on market
  
• Infinity pool (controlled access)
  
• 2 natural black sand beaches 5 minutes on either side of the development
  
• Children's pool & play park
  
• 2 fully flood lit tennis courts
  
• Commercial buildings
• restaurants
• retail units
• small conference facilities
  
• Range of plot sizes
  
• North of site: steep land leading to the Riberia Grande
  
• West of site: Cape Verde Solutions negotiating that land too
  
• East of site: walking distance to Cidade Velha, walled grave yard 70m away
  
• Almost a third of the site landscaped

Facilities Management

 

Facilities Management company to be set up in 2007

Monthly charge for: refuse collection, desalination, water, sewage, security, landscaping
Estimated at € 250 per month

Seat on board for an investor, renewable contract

Furniture

Ikea to give complete consumer choice
Online or in store choice
Estimated at € 7500 to fully furnish a 2 bed villa (including tax and shipping)

Completion

Construction started December 2007

Finance

Prices

Prices start at € 260,200 to exclusive front line 3 bed properties overlooking the infinity pool at € 410,000.

Mortgage finance is also available, up to 50%.

Reservation

€ 3,000 reservation fee
14 day fully refundable (minus 10% administration)

28 day promissory contract period before 1st payment

Stage Payments

• 30% On contract (less reservation fee)
  
• 20% Infrastructure (estimated end March 2008)
  
• 20% Completion of foundations (for specific villa)
  
• 20% Completion of roofing (for specific villa)
  
• 10% Exchange ( Estimated July 2009)
  
  

Mortgage Finance

First developer in CV to secure mortgage finance
Up to 50% loan to value

3.5% above the variable 6 month Euribor

1% arrangement fee

Will loan the 4th, 5th and 6th stage of stage payment plan

Tax & Legal Fees

Tax: 3% of property value payable on exchange

Legal Fees: Fixed fee convenience being negotiated, payable on exchange

Bank Guarantees

UK based Professional Indemnity Insurance ensures the performance of the contract

Investment Return

Rental: 10% gross yield on a 50% occupancy (worst case scenario)
Capital unknown, new market.