Peninsula of Azuerro
The rationale behind the Peninsula of Azuerro is simple as they call it the Nicoya of Panama. Nicoya is the name of a peninsula in the Guanacaste province of Costa Rica, were the land prices have sky rocket the last 10 years. Azuerro has exactly the same potential as Nicoya as it has the same typical peninsula shape in the Pacific Ocean, the same pleasant tropical climate, the same distance from the Capital, the same amazing landscape and the same beautiful beaches.
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Land prices in the area
Right now the prices are still low as it still takes 3.5 to 5 hours by car from Panama City to get there. At this moment the prices of big undeveloped beach front properties vary between US$ 4.00 and US$ 7.00 per m2 (or US$ 40,000 and US$ 70,000 per hectare).
The regional developments
Because of the enormous amount of second home buyers and tourists there will be a pressure on the beach areas of Azuerro. Simply because they can not make more of it! The roads and other infrastructure in Azuerro is very well maintained as the former President of Panama, Mireya Moscoso, used her place of origin “Pedasi” as her weekend get away.
We expect that after three to five years the beach areas will become more popular and the airline companies will consider establishing an international airport with direct flights to Panama City, Costa Rica and several destinations in the US.
We expect that within five years the prices of undeveloped beach front properties will go up to at least US$ 50.00 per m2 (or US$ 500.000 per hectare). Which is still very conservative compared to the land prices of US$ 100.00 per m2 to US$ 150.00 per m2 in Nicoya (Costa Rica).
The property
CrownLand is in the process of acquiring a 270 hectares property with 1.9 kilometers of beach front. The property is ideally located between to small fisher villages. The property contains with sandy beaches divided over two bays, soft rolling hills combined with flat areas, incredible views and excellent tourism and residential development opportunities.
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Added value
After the acquisition CrownLand will start adding value to the property by getting all the necessary building permits, making several project plans for a residential and tourism development and build the basic infrastructure (roads, electricity, water supply and a model home).
Investment proposition
The acquisition price of this property is US$ 4.00 per m2 which ends up to a total acquisition price of US$ 10.8 mln. Within four years we expect to sell the property in 4 smaller plots on an average price of US$ 35 per m2. Including the costs of our added value process this ends up in 43% yearly revenue for our investors on IR basis.
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