TOURISM DEVELOPMENT BOA VISTA - CABO VERDE 2 Contents Index

- Country Overview pag. 4

- Tourism Market Overview pag. 12

- Boavista Overview pag. 18

- Competitive Environment pag. 22

- Promoter pag. 24

- Concept & Site Analysis pag. 25

- Contacts pag. 51

3 Country Overview Location and History

The islands are located off the west of . The archipelago consists of 10 islands of volcanic origin and cover a combined area of about 4.000 km2. The biggest islands are Santiago and Santo Antão. is the capital.

The islands were discovered by Portuguese and Italian explorers in the 15th century. Prior to this, they were uninhabited. The islands’ strategic location enabled prosperous and strong economic growth during the slave trade in the 16th century. After the decline of the slave trade, Cape Verde provided supplies and crew for shipping, with particular focus on the island of São Vicente where the main harbour for the archipelago was located.

In 1975 Cape Verde achieved the independence from Portugal, with Portuguese being used as official language of the country, although Creole is the main language used by the population.

Political Stability & Economy

The political climate in Cape Verde is very stable and has been so for the last two decades. The current ruling party is the Movimento pela Democracia (MPD) who won the elections in 2016 defeating the Partido Africano da Independencia de Cabo Verde (PAICV) party. Since 1991, after the adoption of a multi-party state, there have been regular and peaceful changes of government.

Cape Verde is recognised by the World Bank as being one of the most interesting countries in Sub-Saharan Africa and currently ranks among top performers in the World Bank’s Country Policy and Institutional Assessment (CPIA) for Africa. In 2000, the Cape Verde Escudo was pegged to the euro at the rate of 110,265 Escudos to €1. This has been conducive to creating a stable economic platform and mitigated any risks attached to foreign currency exchange levels.

In December 2007, Cape Verde achieved middle-income country status with the World Bank, demonstrating good governance, sound macroeconomic management, including strong fiscal discipline and credible monetary and exchange rate policies. In July 2008, Cape Verde joined the World Trade Organization. 4 Country Overview Geography

The Cape Verde archipelago is in the Atlantic Ocean, approximately 570 kilometres off the western coast of the African continent, near , The Gambia and Mauritania, being part of the Macaronesia ecoregion.

The country is composed by ten islands (nine inhabited) and eight islets, that constitute an area of 4.033 km2. The 10 islands are spatially divided into two groups:

- The (windward): Santo Antão, São Vicente, Santa Luzia, São Nicolau, Sal and Boa Vista;

- The (leeward): Maio, Santiago, Fogo and Brava.

The largest island, both in size and population, is Santiago, which hosts the nation's capital, Praia, the principal urban agglomeration in the archipelago. Three of Cape Verde islands, Sal, Boa Vista and Maio are fairly flat, sandy and dry; the others are generally rockier with more vegetation.

Geologically, the islands are principally composed of igneous rocks, with volcanic struc and pyroclastic debris. Historical volcano (within human settlement) has been restricted to the island of Fogo.

Extensive salt flats are found on Sal and Maio. On Santiago, Santo Antão and São Nicolau, arid slopes give way in places to sugarcane fields or banana plantations spread along base of towering mountains.

5 Country Overview Weather & Climate

Cape Verde is tropical dry with 350 sunny days per year. lt has a dry season, from November to July, tempered by trade winds. The rainy season is from August to October.

Halfway between the Tropic of Cancer and the Equator, Cape Verde's climate is hot and dry for most of the year, with temperatures ranging from 22 to 28 degrees.

In the coldest months (January and February) the trade winds coming from the northeast blow harder.

The temperature rarely descend below 20°C, even at night and the water temperature is close to that of air.

The rainfall occur in the late summer when the temperatures begin to drop (it also comes in August to 32°C).

6 Country Overview Economy

The Cape Verdean government established the top priorities for development: Natural resources: salt, pozzolana, limestone. 1. Promotion of market economy and private sector; Agriculture: bananas, corn, beans, sugarcane, coffee, fruits, vegetables, livestock 2. Development of tourism, light manufacturing industries and fisheries; products. 3. Development of transport communications and energy facilities. Industry: fishing products, clothing, shoes, beverages, salt, construction, building materials, ship repair, furniture, metal products, tourism. The economy is service-oriented with tourism, commerce, transport, communication and public services accounting for almost 70% of the GDP. Although nearly 35% of the The outlook for Cape Verde would appear to be positive. Real GDP growth is anticipated at population lives in rural areas, the share of agriculture in GDP is around 10%; fishing or close to 5% over the next few years, suggesting that Cape Verde will be one of the accounts for 1,5%, both of them are increasing rapidly. stronger performers within the African countries, and indeed European region, and tourism forecasts suggest arrivals could grow between 6% and 10% over the next decade. The GDP in Cabo Verde advanced 4,6 percent year-on-year in the last 3 years (2016-17-18) compared to a -15 percent recession in 2015. Main contributors to the growth were trade, transports, public administration, manufacturing and restaurants and hotels. Unemployment rate goes from 16% of 2013 to 9% of 2017 thanks to services, tourism and construction growth.

Country Annual GDP Annual Growth rate % (thousands of Euro)

7 Country Overview Demographics

The population of Cape Verde is estimated to be just over 0,55 million people (2018). Of this total, just under 300.000 live in Santiago (where Praia, the capital, is located). São Vicente is second in terms of population (80.000 residents), while Boavista has approximately 20.000 residents.

The population growth rate for the archipelago is modest at around 1% per annum over the past five years and is forecast to grow at a marginally higher rate of 1,2% over the next six years. More live overseas with some of the largest communities settling in the US (0,5 million) and in Portugal (150.000).

The influence of diaspora on every day life on Cape Verde cannot be underestimated. It is estimated that Cape Verdean’s living overseas send home remittances worth 9-10% of GDP, and therefore have a pivotal role in the islands’ economy.

The median age of the population is around 22,7 years while the life expectancy is just over 70 years, in-line with developed countries within Africa. Approximately 61% of Cape Verde’s population live within urban areas. The largest urban population is within Praia, with an estimated 125.000 residents.

The majority of the population resident in Cape Verde is of creole ethnicity, a combination of black African and European descent.

Adult literacy rates are high particularly among the youth (97% compared with 84% across the national population) which is encouraging and a strong indication of the skills of Cape Verdeans.

8 Country Overview Infrastructures overview - Airport

Until 2001, Cape Verde had only one international airport (Amilcar Cabral Airport located on Sal). After a period of All major cities of departure investment, primarily as part of the PIP (Public Investment Program), Cape Verde now has seven airports, four of which are international (Santiago, São Vicente, Sal and Boavista). Milano, Bergamo, Verona, Bologna, Roma, Napoli Munich, Basilea, Cologne Cape Verde had 2.700.000 passenger movements in 2017. Amilcar Cabral Airport was built by the Italians in 1939 Hannover, Hamburg, Stuttgart, Nürnberg and was the first international airport to open on Cape Verde. It was built as a fuel and provisions hub for planes en-route from Italy to South America. Dusseldorf, Frankfurt, Luxembourg Amsterdam, Brussels Most connections are to Europe with regular services to Portugal (through TAP Airlines), Germany and Nordic Stockholm, Helsinki, Copenhagen, Oslo countries (through TUI), Belgium (with Jetairfly and Thomas Cook Airlines), Canary Island (with Binter), France Paris, Lisboa, Las Palmas, Prague (with Vueling, Transavia) and Italy (with Neos Air and Blu Panorama). London, Manchester, Birmingham, Glasgow Boston, Reykjavik, Fortaleza 9 Country Overview Summary

Cape Verde has a very stable political environment, and its links with EU countries (in Continued efforts to attract overseas investment, partnered (where possible) by government particular Portugal, Spain and the UK) have raised its profile within the international funding, should help to achieve these growth forecasts. community instilling confidence for potential investors in the archipelago. Indeed, it has a positive rating from the World Bank, being regarded as one of the most open The forging of new relationships for FDI from non-European source markets is encouraging and countries in Sub-Saharan Africa, and its membership to the WTO has increased its will help to mitigate any susceptibility that Cape Verde has had in the past through its exposure to reputation. European countries. There is still a huge reliance upon overseas investment to enable Cape Verde to grow, with the tourism sector making such a high contribution to GDP. The archipelago, despite its reliance upon imports, has over the past decade demonstrated real GDP growth at levels that are significantly higher than other Business Confidence Index economies within Africa and particularly across Europe. Much of this increase in GDP has historically been as a result of FDI from traditional European countries investing in the service sector and specifically tourism.

However, with the global economic crisis hitting parts of Europe (specifically Portugal and Spain) particularly hard, FDI from these core investment partners has been reduced significantly. This has forced a new economic strategy for the government. This has included significant expenditure programmes on infrastructure as part of its PIP (Public Investment Program) and has resulted in forging new relations with previously untapped partners including China.

The PIP has enabled Cape Verde to maintain real GDP growth in recent years (although at the expense of increasing government debt but to manageable levels) and, importantly, has provided a base level of investment in tourism infrastructure including new resorts, roads, and international airports.

It is clear that the Cape Verdean government through its various incentive schemes will continue to encourage investment in tourism to grow the industry. In Cape Verde, the Survey for Economic Climate, published by National Statistic Institute (INE) in 2019, measures the level of optimism that people, who run companies in industrial and Future Prospects commercial sectors, have about the performance of the economy and how they feel about their organizations’ prospects. The outlook for Cape Verde would appear to be positive, particularly when considering the World Bank and IMF’s forecasts for GDP. Real GDP growth is Survey incorporates questions about investment climate, export activity and employment. The anticipated at or close to 5% over the next few years, suggesting that Cape Verde will data collected are strongly confident. be one of the stronger performers within the African and indeed European regions. 10 Country Overview SWOT Analisys

Strenghts: Weaknesses:

- Climate: 350 sunny days per year, stable weather conditions, very low risk of natural disasters; - Health system in developing: one of the best in Africa but still not comparable with high - Pristine nature: 3rd worldwide hotspot for biodiversity (endemic terrestrial fauna and marine-life, international standard; anyway there are a very low risk of serious diseases; no dangerous animals), various and unique landscapes; - Low number of local professionals and specialized graduate workers in every area; - Strategic position: in the middle of Atlantic Ocean, in between 4 continents: 4/6 hours flight from - Small internal market, low population (500k people) with weak spending power; Europe, North and South America, North Africa and Middle East; - Few connections between the islands of the archipelago (10 islands); - Country stability: parliamentary Republic since 1975, 90% Catholics, no internal riots, high rate of - High rate of population growth in proportion to the growth of services and buildings; schooling and peaceful local people, very low crime rate and corruption perception; - Very low public budget for international marketing; - National currency (Escudo Caboverdiano) pegged with Euro by law (1€ = 110,265 ECV); - Very strength and good international relationship and partnership with EU, USA, Africa and China; - Very low tax rate and many benefits for any kind of foreign investment (especially in tourism area); - PIB mostly based on tourism (fishing, import/export), internal economy is growing fast since 2000; - Tourism is growing constantly since 2000, by 8/12% average per year; - 4 international operating airports and 3 international operating ports; - 3G network covers the whole country, all the islands are connected to internet without problems; - Business confidence high rate, with many foreign investors since 20 years;

Opportunities: Threats:

- The optimal weather conditions, the pristine nature, the country stability and the high security level - The average population growth rate may be too high compared to the slower growth in are attracting a multitude of tourism investments about: new hotel/resort and various tourism linked services, infrastructures and popular housing; services especially for sun and beach, water and beach sport, nature lovers, culture trips, charity - The actual public management may not be able to support the growth of the population and trips, camping, healthy and luxury holidays; tourism; - The strategic position could attract new companies, creating new international commercial - Delay in development which may prejudice the present favorable conditions of growth; stopovers and transform the country in an air and sea transportation hub; - The country may not be able to compete to other tourist destinations if the problems listed - The growth of internal demand and the need for more holidays rooms may quickly empower the above were not solved; real estate market; - The growth of local population and the number of tourists may strongly empower the fishing and agriculture sectors, promoting the increase of the food processing companies;

11 Tourism Market Overview Key Facts

GDP: DIRECT CONTRIBUTION The direct contribution of Travel & Tourism to GDP was 17,8% of total GDP in 2017 and to rise by 5,4% pa, from 2018 to 2028.

GDP: TOTAL CONTRIBUTION The total contribution of Travel & Tourism to GDP was 44,9% of GDP in 2017 and to rise by 5,0% pa from 2018 to 2028.

EMPLOYMENT: DIRECT CONTRIBUTION In 2017 Travel & Tourism directly supported 37.500 jobs (15,8% of total employment) and is expected to rise by 4,5% pa to 60.000 jobs in 2028.

EMPLOYMENT: TOTAL CONTRIBUTION In 2017, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 39,3% of total employment (93.500 jobs). This is expected to rise by 3,1% pa to 129.000 jobs in 2028.

VISITOR EXPORTS Visitor exports generated 405mn Euros, 65,9% of total exports in 2017. This is forecast to grow by 5,5% pa, from 2018 to 2028.

INVESTMENT Travel & Tourism investment in 2017 was CVE 14bn, 26,4% of total investment. It should rise by 4,1% pa over the next ten years to CVE 21,2bn (Euro 192mn) in 2028, 25,4% of total.

12 Tourism Market Overview National Overview

In this section, we provide an overview of recent trends in Cape Verde’s tourism sector with particular reference to Boavista.

Since 2000, growth in arrivals has continued and has been driven by increased awareness and promotion by tour operators but also the following factors:

- The development of three new international airports since 2001, the most recent being in São Vicente in 2009; - The development of several large all-inclusive resorts; - The increase in charter flights provided by tour operators to fill the all-inclusive resorts; - The Government investment in infrastructures like roads and ports.

In 2011, Cape Verde has benefitted from tour operators pushing the archipelago as a safe and stable destination in place of packages to north Africa. The Arab Spring resulted in growth of 24% on the previous year as tourists sought alternative safer destinations. The latest data indicates that arrivals surpassed the 700.000 mark and in 2018 stood at 770.000 arrivals – an increase of 8% on the previous year.

13 Tourism Market Overview National Overview

As shown in the chart bottom right, the UK is the largest source market for tourist arrivals to Cape Verde, accounting for just under 24% of the total, followed by Germany, France, Nederlands, Portugal and Italy. The proportion of French tourists has increased in recent years as a result of new marketing initiatives and an improvement in direct airlift.

Cape Verdean nationals (which includes ex-patriates) account for 9% of all international arrivals. The profile of key source markets has shifted dramatically over the past five to seven years, driven primarily by the influence of tour operators, but also as a result of the development of second homes sold to European markets. This has raised the profile of Cape Verde as a holiday destination and indeed prospective buyers have visited Cape Verde on holiday as part of their buying process.

In 2018, the leading source markets in terms of arrivals were UK (24,5%), followed by Germany (12,7%) and France (10,9%). The top five source markets for Boavista Island are the UK (22% of arrivals), Germany (13%), France (11%), Portugal (10%) and Italy (4%). Boavista has strong appeal and a particularly high take-up rate among visitors.

In terms of monthly arrivals at Cape Verde’s international airports, the seasonality pattern follows the European holiday periods, with peak arrivals in August and May/June accounting for the lowest levels of arrivals.

Boavista is higher in profile to the Cape Verdean average. The highest months in terms of arrivals are March, July, August and December (each accounting for 9% or more of the annual total), while the low months are May, June and October with less than 7% of annual arrivals. Even in the rainy season on Boavista (a contradictory term given that Boavista receives little rain during this period, and temperatures are at the highest c. 35 degrees on average with little wind), total arrivals are around 8%.

The profile of tourists changes according to the time of year with Germans, Dutch and Scandinavians visiting during the winter months, while the summer months are most popular with British, Portuguese, Spanish, Italians and French.

14 Tourism Market Overview National Overview

Based on reports from the national statistical office, the average length of stay for the archipelago is around 6 nights.

Boavista is now tied with Sal in terms of the average length of stay of tourists, which reflects recent improvements in the quality of product offering and also the type of packages being sold. This length of stay is typical for a sun, sea and sand holiday destination and could be increased, particularly if there were more attraction content and activities to participate in on the island.

The average length of stay of guests to Cape Verde in general has increased since 2000. This is as a result of the increase in availability of chartered flights to the islands (most of which now run on a weekly basis), as well as the increase in real estate on the islands – in particular, Boa Vista and Sal islands.

Real estate owners have the ability to stay for longer than the standard holiday packages offered (subject to the availability of flights), and this has therefore increased the average duration to above seven nights on these two islands.

The length of stay varies according to nationality. UK residents typically stay around 9,1 nights, Belgian, Dutch, Germany and Italian tourists around seven nights, while French, Portuguese, Swiss and Spanish tourists stay for between four and five nights.

Hotels are the most commonly used form of accommodation for tourists to Cape Verde, accounting for 85% of all arrivals and 92% of all tourist nights spent.

Tourist arrivals to the islands of Boa Vista and Sal, as well as the smaller islands, are almost certainly for holiday purposes and would account for 95 to 100% of all trips made.

Santiago, which includes the capital, Praia, would experience a lower proportion of leisure trips, and anecdotally, would be in the region of 50% of all trips made.

94% of visitor spending is from international tourists.

S. Antao S. Vicente S. Nicolau Sal Boavista Maio Santiago Fogo Brava 15 Tourism Market Overview Hotel Market

The hotel market in Cape Verde has continued to grow and evolve over the last decade or so, These large-scale all-inclusive hotels have had a direct impact on the volume and type of driven by appeal and profile as a destination and by the direct investment from overseas tourist arrivals to Cape Verde and the individual islands, as can be seen from the arrivals data companies into new tourist resorts. at the individual islands’ airports. Most of the existing supply of hotels in Cape Verde is of four-star standard (to upscale). Large resort developments by companies such as Riu, have had a significant impact on supply levels. For example, 2005 saw an addition of over 500 rooms on Sal at the Riu The average size of property on Sal in 2016 was 143 rooms, second to hotels on Boa Vista Funana and a further 750 rooms at the Riu Karamboa on Boa Vista in 2008 and 881 rooms at where the average size of hotel equated to 229 rooms. It is worth noting that these figures the Riu Touareg in 2011, having a dramatic impact on room supply levels. are distorted by the large Riu operations present on both islands.

Actually, regarding demand, it is possible to highlight the presence of international brands Hotels and resorts on Sal and Boa Vista are more sophisticated than on the other Cape sector’s leader: Riu, Tui, Hilton, Melia, Oasis Atlantico, Pestana among the most important. Verdean islands.

Accommodation facilities Tourism Employees Nr. Nr. Rooms Accomodation Facilities (nr.) Nr. Beds

S. Antao S. Vicente S. Nicolau Sal Boavista Maio Santiago Fogo Brava

16 Tourism Market Overview Incentives

Promoters who invest in the tourism sector can benefit from the following incentives: Projects with the following requirements may be eligible for the Establishment Agreement to be negotiated with the Government of Cape Verde: Benefits to Income Tax (IRPC) - Tax Credit to Investment: tax credit that operates through the deduction of the income tax, corresponding to 50% of the relevant a) investment relevant to the promotion and acceleration of the development of the investments, in the framework of the Investment Law. national economy, considering as such those that integrate the program of the Government; Exemption from Stamp Duty Tax: The contracting operations are exempt from stamp b) Investment of more than five million Euros; duty tax. c) That creates at least 10 (ten) direct jobs; d) Is carried out in an area covered by the Government program; Exemption from Customs Duties: Firms may benefit from exemption from customs duties on imports of: Possibility of benefits within the Establishment Agreement: a) furniture, equipment and utensils intended for the installation of tourist developments; b) materials and equipment directly incorporated in the installation of tourist TAX RELIEF developments; c) collective and mixed transport vehicles intended for the exclusive transport of tourists Exemption from Income Tax and dividends distributed to the promotore during 10 years and baggage, pleasure boats, boards and accessories, instruments and equipment from the implementation of project. intended for sporting and cultural activities. Exemption from the Wealth tax (IUP) in acquisition of properties aimed at hotel construction and its establishment. Wealth Tax (IUP) exemption: Investments involving the acquisition of properties or Exemption from Tax on depreciations and interest rates, corresponding to financial lands, exclusively intended for tourism development projects may benefit from operations which constitute external investments. exemption from the relative tax. Exemption from customs fee for construction materials and equipment's imports, aimed at construction and operation of hotel and tourist stay. Other benefits: Exemption from customs fees on furniture imports, common/mixed transport vehicles • Benefit to the creation of employment: deduction to the collection of the Income Tax exclusive for tourist and their baggage transport, boats, instruments and equipment for per job created; sports and cultural entertainment. • Training, internships and fellowships: increase of 150% of the expenses incurred in the year with training, internships and scholarships; GUARANTEES • Patronage: possibility to increase up to 130% of expenses for the year with donations granted to the State and local authorities; Protection of real state rights inherent in foreign investment. Transferability of earnings and dividend abroad. SPECIAL CONTRACTUAL BENEFITS: The implementation of the Establishment Possibility of opening bank accounts in foreign currency. Agreement concerns projects of high national interest. Contractual investment projects Opportunity to employ up to 10% of foreign staff across the total permanent workforce. are subject to a global and harmonized assessment and decision by the Board of Directors of Cape Verde Investments and by the Council of Ministers. 17 Boavista Overview Introduction

18 Boavista Overview Tourism activities

19 Boavista Overview Tourism data

Annual occupation % Nr. of tourists Nr. accommodation facilities Nr. tourism employees

Average stayed night per tourist Total nights Rooms Beds

20 Boavista Overview SWOT Analisys

Strenghts: Weaknesses:

- 1 international airport with an average of 50 flights per week, recently renewed to receive - The local airport is still not operating during the night (but the Government plan provides to bigger airplanes; implement the ILS technology as soon as possible); - The island with the most beautiful and long white bathing beaches of the archipelago (55 km - The local health center can’t offer the services of a proper hospital: in case of a very serious all around), with unique and various landscapes like sand and rock deserts, big dunes, disease or injury the patient must be taken away by plane to another island; mountains, natural lagoons, salt flats, tropical palm oasis, black rock cliffs; - There is a big lack of housing for workers and this deficit increases linked to the tourism - 3rd worldwide nesting sea turtle hotspot, very important breeding humpback whales zone, growth; point of migration of rare birds, multiform endemic marine-life, no dangerous or poisonous - The need of low salary workers increases the immigration from West Africa and, animals or plants; consequently, increases the size of the slum area next to the city; - Perfect conditions for water sports like kitesurf, windsurf, surf and skimboard; - There is no public internal transportation; - Very predictable wind/wave conditions for energy production and sea activities; - The main city (Sal-Rei) overlooks a huge bay with no waves, protected by a small islet that allows to practice any kind of activity in the sea with no danger; - Little population compared to the size of the island (low density); - The island is becoming one of the most popular tourist destination in Europe and Africa, coming to 85/90% of occupancy rate;

Opportunities: Threats:

- The growth of local population needs new private investments in residential real estate, in - The actual infrastructures may not be able to guarantee their services if they were not order to fill the actual and future lack of housing; empowered at the same time with the tourism development; - The high occupancy rate of the island guarantees excellent long term revenues generated by - If the lack of housing will grow, it’s probable a growth of the slum area; every tourism investment; - The high demand of international touristic agencies for rooms and services may determine a rapid link between the network of agencies that offers local activities, the numbers of agencies looking for new holiday packages for tourists and the new flight companies that want to join the market; - The local marketing channels could quickly promote the new services better than the other islands, for any kind of target;

21 Competitive Environment Hotel & Resorts

The leading hotels are upscale in quality positioning. International branded operators are present, including Riu, Iberostar and New Horizon. They are mid-market and offer all-inclusive products, which is reflective of an emerging tourist destination.

The British market has become the dominant source market over the last seven years and has raised market expectations in terms of quality of product, range of facilities and services provided by the hotel operators on the island. While there have been some new market entrants over the last few years, providing new quality accommodation on the island.

Tour operators play a significant role in promoting Boavista as a destination and filling rooms, ranging from 60 to 90% of rooms sold at individual hotels.

Nevertheless, competition is likely to intensify over the next few years. This will be important for destination awareness, raising the profile of Boavista, but infers that the product offered at Lacacão will need to be differentiated from the competition – either through quality, scale or facilities and amenities offered.

There are strong opportunities to bring in a new international brand to differentiate the service and product, in particular an operator that holds strong brand awareness within the existing key source markets, such as the UK, Germany, France and Spain.

22 Competitive Environment Hotel & Resorts

23 Promoter Bucan Group

BUCAN is a tourism real estate development and construction company based in Cape In 2007 BUCAN signed an agreement with the Government of Cape Verde to build and Verde since 1997. After visiting several islands, BUCAN investors decided to invest in a promote infrastructured land sale for tourism development covering 750 hectares in first stage on the island of Sal, because it was the only one that had an international Lacacão, located in the southern area of Boa Vista, 20km away from the capital Sal Rei and airport in Cape Verde. from the International Airport, which Master Plan will be presented further. The proposed project on Boa Vista is located within a Tourism Development Zone (ZDTI), They developed Ponta Preta urbanization, where important hotel groups were established, which ensures that it may receive all possible Government incentives through a such as the RIU and Resort Group. In order to provide water and energy to the new rising one-stop-shop Government organization called SDTIBM. customers they create the company Aguas de Ponta Preta, which guarantees water and energy supply and waste water treatment to the urbanization. In the Master Plan there are several plots which have different use destination: Hotel 4 and 5*, Tourism Residential, Residential, Service, Commercial, Leisure and Golf. Each plot is BUCAN is owned 50% by Panorama Ltd, cape verdean firm, owned and managed by Mr. presented with its own technical characteristics specifying buildable area, use, number of Francisco Ufano and 50% by Promomax SL, Spanish firm owned and managed by Mr. rooms allowed among others. Canabal, two experienced investors and managers in real estate, construction, utilities The infrastructure has already been done for 50% of the plots, including main access to and tourism infrastructures and companies in Spain, Canaries Islands and Cape Verde. land, communication and energy, water and water treatment being realized at the entry of the plots. The total cost for infrastructure overcomes 36 Million Euros. Thinking about an integral and sustainable development, the Public Private Company The plots will be sold with all referred infrastructure included. Riu Touareg, a touristic AGUAS E ENERGÍA DA BOAVISTA was created, of which BUCAN has 40% shares, for development with more than 1.200 rooms is already operating in Lacacao since 2011. A water, energy production and supply, taking care of the waste treatment too in Boa Vista new 5-star Hotel of 1.140 rooms will begin to be built in Lacacao in 2019, adjacent to Riu island during 30-year concession period. Touareg, covering a surface of approximately 26 hectares, being managed by one of the most important tourism companies in the world, Barceló Group. BUCAN, as construction Cape Verdean company, has a national construction license for public and private works. Beyond a warehouse for construction material of 10.000 square The Master Plan includes a Golf area. Golf as a tourist product does not exist within Cape meters and a truck and vehicle service workshop, Bucan has a truck and car fleet of more Verde. A golf championship course at Lacacao will give the resorts first mover advantage than 30 heavy and light vehicles, between them truck mixers, tankers, trailers, lorries, and provide a unique and high-profile leisure amenity. dump trucks, tractors, pick up and so on. The proposed course at Boa Vista has the potential to be a championship standard course and has to be designed by a high-profile signature architect. Given the similarity in feeder markets between Cape Verde and the Canary Islands, the green fees at the proposed resort would be in line with those achieved in the Canary Islands. 24 Concept & Site Analysis Masterplan render

25 Concept & Site Analysis Aerial photo

26 Concept & Site Analysis Aerial photo

27 Concept & Site Analysis Masterplan plots

28 Concept & Site Analysis Masterplan plots

L19 L18

L22 L20 L08B L17 L14B L15

L05 L06 L07 L16 L14A L23 L04 L21 L08A L09 L03 L02 Barcelò Riu

L01

Golf course use Tourist use

Hotel + Tourist Residential use Public services and technical use

Hotel and/or Residential use Leisure use

Residential use Commercial use 29 Concept & Site Analysis POD L.01

L01

PLOT POD. L01 SURFACE AREA 26.755,15 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 20,33% MIN. OCCUP. 14,52% BUILDABILITY INDEX 43,57% NR. ROOMS 200 SQM PER ROOM 58,29 sqm L01 TOTAL BUILDABILITY 11.658 sqm 100’% MAX. TOURIST USE 11.658 sqm 3% MAX. COMMERCIAL USE 349,74 sqm

INTENDED USES Tourist use 30 Concept & Site Analysis POD L.02

L02

PLOT POD. L02 SURFACE AREA 114.732,52 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 17,78% MIN. OCCUP. 12,70% BUILDABILITY INDEX 38,10% NR. ROOMS 750 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 43.717,50 sqm

L02 100’% MAX. TOURIST USE 43.717,50 sqm

MAX. COMMERCIAL 3% USE 1.311,53 sqm

Min. 40% hotel - 60% hotel or INTENDED USES residential tourist use 31 Concept & Site Analysis POD L.03

L03

PLOT POD. L03 SURFACE AREA 146.461,35 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 13,93% MIN. OCCUP. 9,95% BUILDABILITY INDEX 29,86% NR. ROOMS 750 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 43.717,50 sqm L03 100’% MAX. TOURIST USE 43.717,50 sqm

MAX. COMMERCIAL 3% USE 1.311,53 sqm

Min. 40% hotel - 60% hotel or INTENDED USES residential tourist use 32 Concept & Site Analysis POD L.04

L04

PLOT POD. L04 SURFACE AREA 324.835,27 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 14,01% MIN. OCCUP. 10,01% BUILDABILITY INDEX 30,02% NR. ROOMS 1.500 SQM PER ROOM 65 sqm TOTAL BUILDABILITY 97.500 sqm L04 100’% MAX. TOURIST USE 97.500 sqm

MAX. COMMERCIAL 3% USE 2.925,74 sqm

Min. 50% hotel - 50% hotel or INTENDED USES residential tourist use 33 Concept & Site Analysis POD L.05

L05

PLOT POD. L05 SURFACE AREA 403.180,97 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 11,47% MIN. OCCUP. 8,19% BUILDABILITY INDEX 24,58% NR. ROOMS 1.700 SQM PER ROOM 58,29 sqm L05 TOTAL BUILDABILITY 99.093 sqm 100’% MAX. TOURIST USE 99.093 sqm 3% MAX. COMMERCIAL USE 2.972,79 sqm

INTENDED USES Hotel and/or residential use 34 Concept & Site Analysis POD L.06

L06

PLOT POD. L06 SURFACE AREA 418.886,02 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 11,04% MIN. OCCUP. 7,89% BUILDABILITY INDEX 23,66% NR. ROOMS 1.700 SQM PER ROOM 58,29 sqm L06 TOTAL BUILDABILITY 99.093 sqm 100’% MAX. TOURIST USE 99.093 sqm 3% MAX. COMMERCIAL USE 2.972,79 sqm

INTENDED USES Hotel and/or residential use 35 Concept & Site Analysis POD L.07

L07

PLOT POD. L07 SURFACE AREA 389.010,38 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 12,59% MIN. OCCUP. 8,99% BUILDABILITY INDEX 26,97% NR. ROOMS 1.800 SQM PER ROOM 58,29 sqm L07 TOTAL BUILDABILITY 104.922,00 sqm 100’% MAX. TOURIST USE 104.922,00 sqm 3% MAX. COMMERCIAL USE 3.147,66 sqm

INTENDED USES Hotel and/or residential use 36 Concept & Site Analysis POD L.08A

L08A

PLOT POD. L08A SURFACE AREA 133.756,49 sqm MAX. HEIGHT *** MAX. OCCUP. *** MIN. OCCUP. *** BUILDABILITY INDEX *** NR. ROOMS *** SQM PER ROOM *** TOTAL BUILDABILITY *** L08A *** MAX. TOURIST USE

*** MAX. COMMERCIAL USE

INTENDED USES Golf course use 37 Concept & Site Analysis POD L.08B

L08B

PLOT POD. L08B SURFACE AREA 639.104,32 sqm MAX. HEIGHT *** MAX. OCCUP. *** MIN. OCCUP. *** BUILDABILITY INDEX *** NR. ROOMS *** SQM PER ROOM *** TOTAL BUILDABILITY *** L08B *** MAX. TOURIST USE

*** MAX. COMMERCIAL USE

INTENDED USES Golf course use 38 Concept & Site Analysis POD L.09

L09

PLOT POD. L09 SURFACE AREA 85.064,23 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 11,19% MIN. OCCUP. 7,99% BUILDABILITY INDEX 23,98% NR. ROOMS 350 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 20.401,50 sqm 100’% MAX. TOURIST USE 20.401,50 sqm L09 3% MAX. COMMERCIAL USE 612,05 sqm

INTENDED USES Hotel and/or residential use 39 Concept & Site Analysis POD L.14A

L14A

PLOT POD. L14A SURFACE AREA 211.907,80 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 10,01% MIN. OCCUP. 7,15% BUILDABILITY INDEX 21,46% NR. ROOMS 780 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 45.466,20 sqm

L14A 100’% MAX. TOURIST USE 45.466,20 sqm 3% MAX. COMMERCIAL USE 1.363,99 sqm

INTENDED USES Hotel and/or residential use 40 Concept & Site Analysis POD L.14B

L14B

PLOT POD. L14B SURFACE AREA 693.799,37 sqm MAX. HEIGHT *** MAX. OCCUP. *** MIN. OCCUP. *** BUILDABILITY INDEX *** NR. ROOMS *** L14B SQM PER ROOM *** TOTAL BUILDABILITY *** *** MAX. TOURIST USE

*** MAX. COMMERCIAL USE

INTENDED USES Leisure use 41 Concept & Site Analysis POD L.15

L15

PLOT POD. L15 SURFACE AREA 275.516,55 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 5,92% MIN. OCCUP. 4,23% BUILDABILITY INDEX 12,69% NR. ROOMS 600 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 34.974,00 sqm L15 100’% MAX. TOURIST USE 34.974,00 sqm 3% MAX. COMMERCIAL USE 1.049,22 sqm

INTENDED USES Hotel and/or residential use 42 Concept & Site Analysis POD L.16

L16

PLOT POD. L16 SURFACE AREA 193.436,97 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 16,17% MIN. OCCUP. 11,55% BUILDABILITY INDEX 34,65% NR. ROOMS 1.150 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 67.033,50 sqm 100’% MAX. TOURIST USE 67.033,50 sqm L16 3% MAX. COMMERCIAL USE 2.011,01 sqm

INTENDED USES Hotel and/or residential use 43 Concept & Site Analysis POD L.17

L17

PLOT POD. L17 SURFACE AREA 228..267,15 sqm MAX. HEIGHT 3 floors MAX. OCCUP. 9,30% MIN. OCCUP. 6,74% BUILDABILITY INDEX 19,93% NR. ROOMS 700 L17 SQM PER ROOM 65 sqm TOTAL BUILDABILITY 45.500,00 sqm 100’% MAX. TOURIST USE 45.500,00 sqm 3% MAX. COMMERCIAL USE 1.365,00 sqm

INTENDED USES Tourist use 44 Concept & Site Analysis POD L.18

L18

PLOT POD. L18 SURFACE AREA 374.828,03 sqm MAX. HEIGHT 2 floors MAX. OCCUP. 3,27% MIN. OCCUP. 2,33%

L18 BUILDABILITY INDEX 4,67% NR. ROOMS 300 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 17.487,00 sqm 100’% MAX. RESIDENTIAL USE 17.487,00 sqm 3% MAX. COMMERCIAL USE 524,61 sqm

INTENDED USES Residential use 45 Concept & Site Analysis POD L.19

L19

PLOT POD. L19 SURFACE AREA 266.616,52 sqm MAX. HEIGHT 2 floors MAX. OCCUP. 6,43% MIN. OCCUP. 4,59% L19 BUILDABILITY INDEX 9,18% NR. ROOMS 420 SQM PER ROOM 58,29 sqm TOTAL BUILDABILITY 24.481,80 sqm 100’% MAX. RESIDENTIAL USE 24.481,80 sqm 3% MAX. COMMERCIAL USE 734,45 sqm

INTENDED USES Residential use 46 Concept & Site Analysis POD L.20

L20

PLOT POD. L20 SURFACE AREA 137.961,89 sqm MAX. HEIGHT 2 floors MAX. OCCUP. *** MIN. OCCUP. 30% BUILDABILITY INDEX *** NR. ROOMS *** SQM PER ROOM *** TOTAL BUILDABILITY 41.388,57 sqm *** L20 MAX. TOURIST USE

MAX. COMMERCIAL 3% USE 1.241,66 sqm

Public services INTENDED USES and Technical use 47 Concept & Site Analysis POD L.21

L21

PLOT POD. L21 SURFACE AREA 62.987,06 sqm MAX. HEIGHT 1,5 floors MAX. OCCUP. *** MIN. OCCUP. 30% BUILDABILITY INDEX 45% NR. ROOMS *** SQM PER ROOM *** TOTAL BUILDABILITY 28.344,18 sqm *** MAX. TOURIST USE L21 100% MAX. COMMERCIAL USE 28.344,18 sqm

INTENDED USES Commercial use 48 Concept & Site Analysis POD L.22

L22

PLOT POD. L22 SURFACE AREA 53.758,56 sqm MAX. HEIGHT 1,5 floors MAX. OCCUP. *** MIN. OCCUP. 30% BUILDABILITY INDEX 45% NR. ROOMS *** L22 SQM PER ROOM *** TOTAL BUILDABILITY 24.203,50 sqm *** MAX. TOURIST USE

100% MAX. COMMERCIAL USE 24.203,50 sqm

INTENDED USES Commercial use 49 Concept & Site Analysis POD L.23

L23

PLOT POD. L23 SURFACE AREA 14.956,53 sqm MAX. HEIGHT 1,5 floors MAX. OCCUP. *** MIN. OCCUP. 30% BUILDABILITY INDEX 45% NR. ROOMS *** SQM PER ROOM *** TOTAL BUILDABILITY 6.730,44 sqm L23 *** MAX. TOURIST USE

100% MAX. COMMERCIAL USE 6.730,44 sqm

Club house INTENDED USES and Commercial use 50 BUCAN CONSTRUÇÕES E IMOBILIÁRIA SA

Zona Bom Sossego, Sal Rei, Boa Vista Island

Cabo Verde

Tel +238 251915

E-Mail: [email protected]

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