Tourism is fast-becoming the largest industry in Cape Verde, and with it, the opportunities for overseas property investment are on the rise. What’s important to note however, is that the ongoing commercial success of Cape Verde as a holiday destination is, in no small part, due to the fact that the country is fiercely committed to long-term sustainability projects, with the promotion of human rights, social welfare and environmental protection right at the top of the agenda across the board.
Tourists tend to avoid countries with poor reputations for social welfare and the environment – but if one thing’s for certain, it’s that more and more people from all over the world are choosing Cape Verde for their holidays year after year after year.
Indeed, according to the latest figures from the World Travel & Tourism Council (WTTC), more than half a million international tourist arrivals are expected on Cape Verdean shores in 2017 – a number which the organisation forecasts will rise to nearly three-quarters of a million (728,000) by 2027.
The popularity of the country is testimony to the fact that Cape Verde is one of the most ethical and environmentally responsible tourist destinations the world has to offer. And this fact is indeed recognised by the NGO Ethical Traveller, which places Cape Verde in its list of the world’s top 10 ethical destinations.
(Image source: sustainabledevelopment.un.org)
If you’re an investor looking for sustainable commercial property investment opportunities, you’ll struggle to find anywhere better than this stunning, tropical archipelago that floats in the Atlantic Ocean, 300 miles off the west of Africa.
100% Renewable Energy by 2025
One of the country’s boldest targets is its Sustainable Energy for All agenda, which aims to see Cape Verde run on 100% renewable energy by 2025. At present, most of the country’s electricity is produced by generators, which run on imported petroleum products. But the Cape Verde Government has its sights set on self-sufficiency and is diversifying its energy portfolio, with renewables being the absolute priority.
(Image source: www4.unfccc.int)
Today, around one-quarter of Cape Verde’s energy comes from renewable resources. To achieve its 100% renewable energy target, a system based on solar, wind, and energy storage (as batteries and pumped hydropower) will be needed. Cape Verde has already made outstanding achievements in wind energy, and, due to its tropical location, the country also has huge potential for solar photovoltaic (PV) electricity. If it does indeed reach its target by 2025, Cape Verde will be unique in achieving 100% renewable energy with a diverse resource mix.
In addition, the Cape Verde Government is aiming for universal access to both electricity and clean cooking solutions for the entire population by 2020 and is adopting efficient practices for energy production and consumption, which is expected to lead to a 20% reduction in final energy demand by 2030.
(Image source: se4all-africa.org)
Protection from Overdevelopment
Bolstering its green credentials, Cape Verde is also fiercely protected from overdevelopment. The country has strict laws in place which only allow low-level and low-density projects to proceed, restricting the number of new properties that can be built.
This means that there is no risk that the natural beauty of the country will be lost at any point in the future. Often, when a country begins to grow in popularity as a tourist destination, new projects are approved left, right and centre, and pretty soon, the very characteristics that were so attractive, are lost beneath bricks, mortar, dust and fumes.
But in Cape Verde, there is no such risk. The legislation is designed specifically to protect the look, feel, and undiscovered charm of the Islands. And this is great news for the overseas property investment market, for it means that there will never be an oversupply of luxury properties, which will keep demand for those that are approved, high.
Sustainable Property Investment at the White Sands Hotel & Spa
One such development that has been approved and is currently under construction is the White Sands Hotel & Spa on the Island of Boa Vista. Built in full compliance with all environmental regulations and directives, the White Sands Hotel & Spa is presenting 835 sustainable property investment opportunities for investors.
The 5-star luxury Resort will feature six swimming pools with swim-up bars, children’s facilities, six restaurants, a number of themed bars, tennis courts, beach ball courts, and the world-famous YHI Spa.
As tourist numbers continue to rise in Cape Verde – in no small part due to the fact that the country is world-renowned for its commitment to environmental sustainability – it’s not hard to imagine just how popular the White Sands Hotel & Spa will become as a luxury Resort when the doors open in early 2019.
When you invest, The Resort Group offers fixed returns for 3 years; this is set 5% in year 1, 6% in year 2 and 7% in year 3. Thereafter, you will receive a consistent on-going return generated by the Resort Management Programme, which is backed by a thriving tourism market and guaranteed contracts with tour operators. This is in addition to a minimum capital growth projection of 5% p.a. and up to 5 weeks personal usage.
Combined with the high tourist numbers, the exceptional commitment the Cape Verdean Government is making to the environment and The Resort Group PLC’s dedication to sustainability, our incredible investment offer makes the development of White Sands Hotel & Spa a great choice for smart investors looking to secure their future.