Press Releases

THE RESORT GROUP PLC LAUNCHES INTERNATIONAL PROPERTY FUND   21/01/2008

A new fund offering experienced investors the opportunity to invest in beach-front resorts and leisure complexes in the developing property hot spot of Cape Verde has been launched in the UK by The Resort Group PLC.

The Resort Group International Property Fund PCC PLC is making available 11% (€10.5 million) of the group’s Dunas Beach and 14% (€7 million) of its Tortuga Beach developments. The remainder of the funding is already in place through institutional and high net worth individuals.

The Resort Group has launched the Fund in order to broaden its access to capital and assist the company’s growth. It is projecting an annualised return of around 20% to Fund investors on construction and completion of the projects, on a timescale of between 18 and 36 months. One of the key reasons that Investors can enjoy such an attractive rate is that they will actually share in the Developer’s profit and this will be based on all the properties within the specific resort rather than just individual units. The minimum investment in the Fund is €100,000 and eligible Investors include high net worth individuals, syndicates, companies and financial institutions.

The Resort Group’s expertise is founded on the marketing of residential property, off-plan, to private Investors. Successful past projects include the Casares del Sol, a development of more than 500 apartments in Andalucía in Southern Spain, and also the sale of four floors of rooms in the five star Trump Tower Hotel in Toronto.

The Resort Group chairman Rob Jarrett said: “Cape Verde is a stunning location with a very exciting future as a tourist destination. Planning for both Dunas Beach and Tortuga Beach has made excellent progress, making them a very sound prospect for our Investors.”