Tecnicil invests 100 million euros in Cape Verde tourist resort

1 March 2006

Praia, Cape Verde, 01 March – Tecnicil, Cape Verde’s largest real estate promoter, is set to invest 100 million euros on a new tourist resort on Sal Island, the company’s executive director told Macauhub.

Jorge Benchimol Duarte said that building the new resort, Vila Verde Resort, would begin in September and all stages of development would be concluded by 2010.

The development, which will preferentially be sold in European countries such as the United Kingdom and Ireland as well as in the United States, will have a total of 1,268 apartments and commercial areas, Duarte said.

According to Duarte, the new Vila Verde will allow Tecnicil to take advantage of the growing attraction of Cape Verde to the western tourism market, as a holiday home destination, as well as boosting its presence as a market player, with the development of further resorts of a similar kind on other islands.

“Investments will be focused on Sal, in the first stage, and on Boavista Island after that. All the islands have potential. The diversity and specifics of each one make it possible to attract different market segments,” Duarte told Macauhub.

The modernization and expansion of transport between islands will also, Duarte said, improve conditions for increasing tourism to new islands.

“The new airports will provide exceptional conditions for promoting islands other than Sal. However, we still have to invest a lot in infrastructures, and the transport sector is definitely the one that needs it most,” he said. (macauhub)