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."
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Touristic project "Guacalito de la Isla", to be developed in 670 hectares in Nicaragua, is awaiting environmental permits.
It is being developed by Sociedad Marina de Guacalito S.A., subsidiary of Grupo Pellas, and will include 490 lots for luxury residences.
Laprensa.com.ni reports: "The environmental management plan states that 'Guacalito de la Isla' plans to invest $225 million, ...
Grupo Pellas has estimated that this will be the number of jobs generated once the project becomes operational.
The Guacalito Tourism Project, which is being developed by the Pellas Group on Nicaragua’s Pacific beaches will be inaugurated at the end of next year, company representatives announced.
"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.
$43 million will be invested in developing the second stage of this Honduran tourism project, between July 2010 and October 2012.
The new stage comprises a 120-room, 5-star hotel and an 18-hole golf course, plus a golf club, commercial spaces, a beach club and complementary infrastructure.