Praia, Cape Verde, 5 Nov – Tourism real estate group Oásis Atlântico Tuesday in Praia signed a funding contract to the value of 7.4 million euros with a banking syndicate led by Banco Interatlântico, newspaper Expresso das Ilhas reported.

The funding is for the Salinas Sea project which, according to Agostinho Abade, chairman of the board fo directors of Oásis, “is daring as it will have 5 star apartments, which is teh first time in Cape Verde.”

The resort, work on which is expected to be concluded in the Summer of 2010, is a 5 star aparthotel complex and is located in Santa Maria, on Sal Island.

Oásis Atlântico was set up eight years ago and currently has seven hotels, four in Cape Verde and three in Brazil.

The banking syndicate is also made up of Portuguese state group Caixa Geral de Depósitos and Banco Comercial do Atlântico. (macauhub)