Located in the municipality of Tola, Rivas, in the Pacific coast of Nicaragua, it will stretch for some 650 hectares.
The first phase of $ 115 million includes construction of a boutique hotel with 35 rooms, the installation of basic infrastructure (power, ground water treatment, cable telephone and fiber optic), residence areas and golf course.
Carlos Hernandez, general manager of the project, told Laprensa.com.ni, "The second phase of the project involves construction of a second hotel, probably of a global franchise, building a commercial area, chapel, tennis court, a dock and expansion of residential and recreational areas reaching a total of 600 units between residential and hotel rooms. The completion of this second phase could take between 10 and 15 years."
"In the eighties Ortega and his cronies harassed private capital and reaped a great economic downturn. Now they are being treated better and the country is running better."
An article by Humberto Belli Pereira in Laprensa.com.ni discusses the symbolism of the Guacalito Island project, in a country ruled by a leftist party whose members, at some point, postulated the most rancid anticapitalist concepts.