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Panama: Dreams Buenaventura (EQT)

Region: Show all Regions | Project: Show all Projects | Project: Beach Resort | Region: Americas | Offering Status: Ready to Commence | Minimum Capital Raise: $ 20 - 50 Million | Minimum Investment Per Investor: $500,000 |

Panama: Dreams Buenaventura (EQT)

The Dreams Buenaventura is a luxury, 614 key, all-inclusive high-end beach resort with 215 linear meters of coastline  in a prime location in Panama´s most exclusive beach and leisure community.

The Dreams Buenaventura will be developed on 14.6 acres in a prime location in the heart of the main tourist development area in the Coclé Province, an area that is quickly becoming one of the main touristic hubs in Panama, offering international brands and operating hotels such as Wyndham, Riu, and Sheraton. Future plans include a Grande Tennis Center and adjacent branded resort residences. The Dreams Resort projected IRR is in excess of 20%.

The resort will operate based on the strong foundation of the service and quality associated with AMResorts and the company’s 30 branded resorts in the region. In addition, the business model is supported by the marketing capabilities of its subsidiaries including Travel Impressions,  AMStar. The resort was designed by world renowned HKS Architects with master planned by EDSA. For ease of travel, the resort will be located a few kilometers from the newly renovated Scarlett Martinez International airport and 120 minutes from Panama City and its attractions.

Panama’s economy has grown at a rate of approximately 8.5% per year over the past 10 years, the highest in Latin America and among the highest in the world. The number of visitors to Panama has doubled to over 2 million in the past 10 years, while tourism spending has increased five-fold to over $5 billion in the same period. Despite having doubled in capacity in the last five years, with only 3,100 hotel rooms, the Pacific Coast of Central Panama has significant potential for a much demanded increase in room supply as the region continues to develop into an important tourist destination. Airlift capacity will naturally follow the availability of new hotel properties.

The dry arc region of Panama, where the DREAMS Buenaventura will be located, is becoming the country´s most important tourist destination. Tourist amenities include golf & beach resorts, adventure sports, and ecological, cultural, and rural tourism. Buenaventura is Grupo VerdeAzul’s 400-hectare flagship project, developed over the last decade in the Pacific Coast of Central Panama. The community is characterized by the quality and luxury of its residences, which attract Panamanian second-home owners and foreigners alike, and its high-end amenities and landscaping (over 200 hectares of open areas and gardens).

Additional highlights of the Buenaventura Resort include the 18-hole Nicklaus Design championship golf course; a five-star, 114-room JW Marriot Golf and Beach Resort; five restaurants and two beach clubs (El Faro and Puntarena); gym, tennis courts, kids club, equestrian club, private zoo and a Spa, among other amenities.

Accessibility: By Air: The Hub of the Americas located in Panama connects all the main cities and countries of the Americas. Capacity is growing at the Tocumen International Airport, with the $100mm north wing of the terminal opened in 2013 and construction underway of the planned $679mm South Terminal, which will double capacity to 15mm passengers/year.

Current direct flights to Tocumen (79 destinations): Amsterdam, Netherlands; Aruba; Asuncion; Paraguay; Atlanta, USA; Barcelona, Venezuela; Barranquilla, Colombia; Belo Horizonte, Brazil; Bogotá, Colombia; Boston, USA; Brasília, Brazil; Bucaramanga, Colombia; Buenos Aires, Argentina; Cali, Colombia; Cancún, Mexico; Caracas, Venezuela; Cartagena, Colombia; Chicago, USA; Córdoba, Argentina; Cúcuta, Colombia; Curacao, Curaçao; Dallas, USA; David District, Panama; Denver, USA; Fort Lauderdale, USA; Georgetown, Guyana; Guadalajara, Mexico; Guatemala City, Guatemala; Guayaquil, Ecuador; Havana, Cuba; Houston, USA; Iquitos, Peru; Kingston, Jamaica; Las Vegas, USA; Liberia, Costa Rica; Lima, Peru; Los Angeles, USA; Madrid, Spain; Managua, Nicaragua; Manaus, Brazil; Maracaibo, Venezuela; Medellín, Colombia; Mexico City, Mexico; Miami, USA; Montego Bay, Jamaica; Monterrey, Mexico; Montevideo, Uruguay; Montreal, Canada; Nassau, Bahamas; New Orleans, USA; New York, USA; Orlando, USA; Paris, France; Pereira, Colombia; Port of Spain, Trinidad & Tobago; Port-au-Prince, Haiti; Porto Alegre, Brazil; Puebla, Mexico; Punta Cana, Dominican Republic; Quito, Ecuador; Recife, Brazil; Rio de Janeiro, Brazil; San Andrés, Colombia; San Jose, Costa Rica; San Juan, Puerto Rico; San Pedro Sula, Honduras; San Salvador, El Salvador; Santa Clara, Cuba; Santa Cruz de la Sierra, Bolivia; Santiago De Los Caballeros, Dominican Republic; Santiago, Chile; Santo Domingo, Dominican Republic; São Paulo, Brazil; Saint Maarten; Tampa, USA; Tegucigalpa, Honduras; Toronto, Canada; Valencia, Venezuela; Villahermosa, Mexico; Washington, USA.

Future planned international direct flights: Frankfurt (November 2015); Dubai and Istambul (February 2016)

Current cities serving Scarlett Martinez Airport: Toronto and Montreal, Canada

Highlights: The resort area became popular for Panamanian and international tourists when the Colombian hotel chain Decameron opened a large  resort in the Rio Hato area and started promoting it as "Playa Blanca" (White Beach). Panamanians still use the Farallón (fahr-ah-YOHN) name whicjepicenter of beach development in Panama, Nowadays the formerly sleepy fishing village of Farallón has been transformed into Panama’s next sought after beach destination with several new resorts, two 18-hole golf courses, and a growing number of homes and condos. Today, this white-sand beach is visited by both national and international travelers looking to soak up the sun. Located along the Pacific coast 68 miles (110 km) west of Panama City, Playa Farallón is easily accessible and undeniably beautiful. Playa Farallón will appeal to those looking for an upscale beach destination not far from Panama City. The immediate area is filled with every conceivable luxury and amenity – golf courses, casinos, upscale restaurants, swimming pools, and more. Recreational activities are also widespread and include ATV rentals, sailboat tours, horseback riding, fishing, kayaking, and parasailing. And of course, the beach isa long stretch of white sand curving gently down to a warm and aquablueocean that is perfect for swimming, walking near, and viewing from hotel balconies.. A

Tourism: The number of visitors to Panama has doubled in the past 10 years, while tourism spending has increased five-fold in the same period. Panama is becoming increasingly popular with North American travelers, offering beautiful beaches on both the Atlantic and Pacific oceans, as well as expansive national parks and reserves with breathtaking mountains, rainforests, volcanoes, and waterfalls. Tourists visit Panama primarily from Colombia (17%), USA (17%), Venezuela (13%), Europe (11%), and other Central American countries (9%). Tourists visiting Panama spend more on average ($182/day) than in any other country in Central America (avg. of $116/day). The New York Times rated Panama as number one in its 2012 survey of Top Places To Go. In addition to this, CNN named Panama one of its Must See Places in 2014 and International Living rated it the World´s Best Retirement Haven in 2014.

Real Estate & Hotel market: Despite having doubled in hotel room capacity in the last five years, the Pacific Coast of Central Panama has significant potential for development of new  room supply. This area has been developing rapidly and is unlikely to slow down any time soon. Apartments, condos, and shopping malls are being built all around the small town, and the coming years are sure to see even grander projects erected. 

Economy: Panama’s economy has grown at a rate of 8.5% per year over the past 10 years, the highest in Latin America and among the highest in the world. Panama is projected to once again lead the region in economic growth with a 6-7% real GDP growth forecast for the 2015-2019 period. The use of the US dollar, coupled with stabilized inflation and no exchange controls or restrictions for foreigners purchasing property, has led to significant investment in the country. FDI to Panama increased to over $4.5 billion in 2013, more than 10% of GDP. In 2014, FDI reached over $5 billion, with an increase of over 21% for the first 6 months of the year compared to the first 6 months of 2013. The strategic geographical location of the country, its dollarized economy and its economic specialization in the strategic sectors (banking and tourism) are some of the many factors that attract FDI.

Incentives:

Friends of Panama Residency Visa:  Executive Decree 343 declared that citizens of 22 nations could apply to become permanent residents in a fast track manner. This “fast tracked” visa has become to be known as Panama’s friendly nations visa. Since then, other Decrees have increased the number of friendly nations to 50 along with clarifying the requirements to apply. The formal wording of this permanent Panama residency visa is for “citizens of friendly nations with professional and economic ties with the Republic of Panama”.  List of 50 Friendly Nations for Panama Visa: Great Britain, Germany, Argentina, Australia, Republic of Korea, Austria, Brazil, Belgium, Canada, Spain, USA, Slovakia, France, Finland, Netherlands, Ireland, Japan, Norway, Czech Republic, Switzerland, Singapore, Uruguay, Chile, Sweden, Poland, Hungary, Greece, Portugal, Croatia, Estonia, Lithuania, Latvia, Cyprus, Malta, Serbia, Montenegro, Israel, Denmark, South Africa, New Zealand, Hong Kong, Luxembourg, Liechtenstein, Monaco, Andorra, San Marino, Taiwan, Costa Rica, Mexico and Paraguay.

Visa Investor Programs: Participation in offering may provide business investors with access to an investment country immigration investor program as per the article 185 of the Second section of Executive Decree 320 of August 8, 2008.  

Available Conversion Options: No


IMPORTANT INVESTOR NOTICE!  Following Rules apply : 

US Investors  (US residents)FOREIGN Investors (non-US residents)
Accredited:  YES. Admitted for investment.                    
Accredited:  Contact [email protected] to determine eligibility
Non-Accredited: NO. Not admitted for investment.
Non-Accredited: Contact [email protected] to determine  eligibility.

Information on US Accreditation Rules.

GRANDEINVEST & THE GRANDE ORGANIZATION: GrandeInvest is an advanced technology based investment real-estate platform offering financial participation in sports celebrity and luxury branded and international prime real estate worldwide. It is a product of The Grande Organization LLC (TGO) based in New York, New York. The Grande Organization markets and develops integrated luxury real estate, investment and related branded sports amenities. The Grande Organizations' real estate portfolio includes Grande Club & Residences, Grande Residences, Grande Resort, Ocean Grande Resort, and Harbour Grande. Its development focus is on properties in key metropolitan cities and waterfront destinations throughout the Americas, the Bahamas and the Caribbean, Asia, Australia, Great Britain, Europe, and the Middle East. Qualified investors can benefit from investments in mixed-use developments, hotels, retail, spas, restaurants as well as residential and vacation properties.

LOCAL DEVELOPMENT PARTNER: Grupo VerdeAzul (“GVA”) is a Panama-based investment firm that develops and  manages real estate, hospitality, and logistics projects. GVA is the most important master planning developer in Panama and has developed over 10mm sqft of residential, commercial, retail, and hospitality projects in the country. GVA has developed four renowned hotels in the country–The Bristol Hotel, JW Marriott Panama Beach & Golf Resort, Tryp Albrook Hotel, and Santa Maria Hotel (in development). GVA primarily develops long-term, large-scale master plan projects in Panama, focuses on quality, and commands the highest price premium in the market.

HOTEL OPERATOR: AMResorts, the fastest-growing hotel company in Mexico and the Caribbean, owns six renowned hotel brands and operates 32 hotels in Mexico, Jamaica, Curaçao and the Dominican Republic. AMResorts has taken advantage of increasing demand for all-inclusive resorts in the region and has become one of the few all-inclusive resort brands customized for the American market. AMResorts expects to operate 40 properties and over 15,000 rooms by the end of 2016. In March 2014, AMResorts signed one of its most recent contracts to operate the DREAMS Buenaventura in Panama, expected to begin operations in 2017.

HOTEL DESIGN:  Designed by world renowned HKS Architects. Founded in 1939 with 27 operating offices worldwide, HKS Architects works on creating spaces with extraordinary designs complemented by technical expertise and construction administration backgrounds. The company has projects located in 84 countries around the globe utilizing international team experience delivering unique designs for enhancing every day life.

DEVELOPMENT TEAM: The development team for the project includes renowned companies such as: Planner & Landscape Design: Planning firm EDSA, with over five decades of experience in planning and landscape design for over 500 projects in 100 countries has master planned the property and commenced hotel design. The firm has received over 250 awards for innovation, power to improve quality of life, and ability to stand the test of time. It is referred to as one of the Americas leading landscape architectural companies; Tennis Operations: Peter Burwash International, which operates 70 tennis complexes worldwide at the top resorts and private clubs from the Caribbean to California, and from Singapore and Hong Kong to Europe and Dubai, will provide operational and staffing resources. PBI facilities are located at Four Seasons Resorts, Ritz Carlton Hotels, JW Marriott properties, and many other global luxury resorts and private clubs such as Badrutt’s Palace Hotel in St. Moritz, Switzerland.

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