US Luxury Hotel and Leisure brand to invest over €100M in Cape Verde through Irish development partner
Cape Verde Development Signs Exclusive Deal with Nikki Beach Hotels & Resorts for Cape Verde ArchipelagoNew Deal Good News for Cape Verde Development Buyers
Cannes, FRANCE – May 24, 2007 - Cape Verde Development today announced an exclusive partnership deal with Nikki Beach, the Miami based company famed for the parties it runs at the Oscars and Cannes along with its own hotel and entertainment centres in places such as St Tropez, Marbella and Cabo San Lucas, which draw celebrities from all over the world.
The deal which involves €100m investment by Nikki Beach in Cape Verde Development resorts is expected to contribute significantly to Cape Verde Development’s aim of delivering world class resorts across the country.
Speaking at the announcement of the deal, Tom Sheehy, director Cape Verde Development said, “We promised investors in all our resorts top quality hotels and operators as anchor tenants and I am delighted today to be able to announce that those deals are being completed and the first with luxury brand Nikki Beach.”
“I would expect that our investors will be delighted to hear that Nikki Beach has been signed up as it will add to the desirability and overall success of our resorts and indeed their investment in Cape Verde,” he added.
Nikki Beach will be involved in a number of Cape Verde Development’s resorts at prime locations on the more developed islands of the archipelago, Sal and Sao Vicente. The infamous Miami based company is a joint venture partner in Fortim Mindelo, Sao Vicente (details launched today at the Cannes Film Festival) and also Calheta Bay on Sal, the master plan for which was launched at the end of 2006. It is expected that Nikki Beach will also announce involvement in another of Cape Verde Development’s ventures towards the end of the year.
“Nikki Beach Hotels & Resorts bridges the current gap in the lodging industry for mixed-use developers and hotel owners,” commented Jack Penrod, founder of Nikki Beach. “With the Nikki Beach brand we have combined 5 Star level of service with a fun and exciting entertainment atmosphere, which allows developers to differentiate their product in the marketplace. Nikki Beach offers an exciting alternative to the current mature hotel brands.”
“"People who love Nikki Beach didn't have a cool place to stay while visiting our beach club locations. We are now filling that void by offering a complete turnkey service. It made sense to offer our valued customers the complete Nikki Beach luxury lifestyle experience. We are very excited about our ventures with Cape Verde Development and expect Sal, and Sao Vicente in particular to become real jet-set locations,” continued Penrod.
Cape Verde Development has been operating in the archipelago since 2004 and has over this period acquired many of the most desirable beachfront locations on the more developed islands of Sal and Sao Vicente. Recognising the benefit of high end facilities it not only has the experience of architects and planners from all over the world working with it, it has also signed up some of the biggest names in the business to assist it in ‘setting the standard’ for development on the Islands.
Earlier this year the company also announced partnership deals with Ernie Els and the PGA. Ernie Els will deliver world class courses on Sal and Sao Vicente along with some real estate in partnership with Cape Verde Development over the next 10 years.
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For further information please contact:
Niamh Lyons, FD
+353 87 7745000
+353 1 6633600
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About Cape Verde Development
Cape Verde Development is a leading Irish provider of superior quality properties in Cape Verde. Our aim is to provide clients with a turn key real estate solution which includes mortgage services, legal and interior design. We are committed to delivering both quality and value