Tag Archives: Cape Verde Properties

Prestige Brokers sells €5 million of Cape Verde apartments in 3 days

Overseas property agency Prestige Brokers had a hugely successful Property Investor Show & OPPLive last week selling “almost €5 million worth of stock over the 3 days,” managing director Zeeshaan Shah told OPP.

For Shah, “the Property Investor Show and OPP Live is the most high profile property investment exhibition in the UK and it proved to be a great success for Prestige Brokers.”.

Prestige was showcasing its “latest project, the 6-star Palm View Resort in Cape Verde,” Shah told OPP, and “our formula for success is a great team, full of commitment, energy and dedication and a fabulous 6-star beachfront resort combined with highly intelligent financial structuring.”

“Investors in this day and age are looking for growth with security,” he adds. Prestige used the show to sell almost 20 apartments in a new 100% finance project in Cape Verde.

The Palm View Resort project stalled three years ago, “around the time of the financial crisis,” says Shah. “And it suffered from some land ownership issues.”

However, “the developer approached us some months ago regarding structuring a 100% finance product because they had overcome all of the previous issues … and they are now nearing completion.”

Despite being “wary at first,” Shah decided to go through a “careful due-diligence process, visiting the site and realising that despite the previous issues (which many developers have also had) the project is now back up and running and it is set for completion in December of this year.”

“Palm View Resort includes the first casino in Cape Verde, a spa, night clubs, a beach club, tennis courts, football pitches, indoor/outdoor swimming pools, a cinema, and so on and the development will be managed in collaboration between Palm View Resorts and The West Paces Hotel Group, an established luxury resort and hotel management company.”

Separately, Prestige is also launching the first bio-fuel investment project in Pakistan. “I arranged a delegation last month in collaboration with the Pakistan Britain Trade and Investment Forum along with Sir Thomas Harris (Vice-Chairman Standard Chartered) and a number of leading hedge fund managers, mining and alternative energy companies,” Shah told OPP.

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