China-Africa Development Fund arrives in Cabo Verde to assess Macau project

30 May 2016

A mission of the China-Africa Development Fund arrived Sunday in Cabo Verde (Cape Verde) to assess the tourist complex project on the islet of Santa Maria in Praia, implemented by Macau businessman David Chow, reported local weekly newspaper A Semana.

The visit will last four days and to explain the purpose of this trip, Cabo Verde Investimento, the tourism and investments agency will host a presentation of the Fund on 31 May.

Two-way meetings are scheduled for after the presentation during which Cape Verdean entrepreneurs will have the opportunity to present their projects and discuss the feasibility of the Fund being involved in such investments.

On the islet of Santa Maria there are plans to build a hotel-casino under a 75-year concession contract valid concession for 75 years renewable for additional periods of 30 years between the government of Cabo Verde and the Legend Development Company already published in the Official Gazette .

Budgeted at US$250 million, this project includes, besides the construction of a hotel-casino, a marina, a congress centre, hotel and residential infrastructure in the beach area of ​​Gamboa and Chã de Areia and lastly, a boutique hotel on the island of Maio. (macauhub/CN/CV/MO)