ATLANTIC BEACH ResidentialIsland of Maio – Cape Verde

Administration Office:C/ León y Castillo , 152

35600 Puerto del Rosario Fuerteventura

SpainTel: +34.901.13.14.15/+34.928.85.60.17

Fax: +34.928.85.16.69

Registered Offices:Urb. El Rosario, Parcela GA-7, Km. 18829604 Marbella – MálagaSpainTel: +34.952.831.559/+34.952.837.663Fax: +34.951.310.744

Cape Verde Office:Zona Ponta Preta

Santa MaríaIsla de Sal – Cabo Verde

Tel: +238.242.21.50Fax: +238.242.21.50

www.planificacionesmundiales.com

ATLANTIC BEACH Residential – Island of Maio

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Content

1. Introduction 42. Cape Verde 5

a) Geographical situation 5b) Factsheet 7c) Tourism 8d) Fotos of Cape Verde 11

3. Why invest in Cape Verde? 20Incentives and exemptions 21

4. Island of Maio 23a) Description 23b) Transport 24

5. Atlantic Beach Residential 25a) Situation 26b) Description 27c) Plans 28d) Types 29e) Photo-report 34

3C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

4C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

1. Introduction:Cape Verde is becoming more and more consolidated on the world market as a holiday destination with great potential.Its wild, exotic landscapes, the excellent sandy beaches with crystal clear water, the deep ocean full of fish, coral andmarine archaeology, along with the unique conditions for practicing water sports, the warm nights filled with irresistiblemusical rhythms and last but not less important, the delightful, outgoing personality of the people make this archipelago aparadise set in the heart of the Atlantic Ocean.

At the beginning of 2008, Cape Verde abandoned the Group of Low Income Countries and entered the group of MiddleIncome Countries (according to OECD criteria). In addition, from July 2008, the archipelago is a member of the WTO, whichstrengthens the multilateral trading system and will enable it to continue integrating into the world economy.

From 1991 the country has been applying market-orientated economic policies, making foreign investment easier,encouraging the private sector through privatisation and by developing tourism, light manufacturing industries and thefishing industry. It has also improved transportation, communications and electricity installations.

Furthermore, the integration of Cape Verde into the world economy and the development of the private sector, backed upby the arrival of large groups of foreign investors, a key element in the development of the country, have made it necessaryto set up a legal framework that no only offers attractive incentives for investment, but also provides security that willfacilitate and guarantee foreign investment in the country.

Archipelago of Cape Verde

5C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

2. Cape Verde:

a. Geographical Situation:

The Republic of Cape Verde occupies an area of 4,033 square kilometers. The islands of Cape Verde are situated in the AtlanticOcean, to the south of the Canary Islands and some 500 kilometres from the coast of Senegal. Cape Verde has a privilegedlocation, between the continents of Europe, Africa and America, right on the Atlantic shipping route.

The archipelago is of volcanic origin and is made of ten islands and eight small islets. The islands form two groups, depending ontheir relation with the north-east wind: the Windward Islands (Barlovento) consisting of São Antao, São Vicente, Santa Lucia,São Nicolau, Sal and Boa Vista; and the Leeward Islands (Sotavento) formed by Maio, São Tiago, Fogo and Brava.

The terrain is generally craggy and of volcanic origin; the highest point is in Fogo with an altitude of 2,829m. However, Sal andBoa Vista are flat, with extensive meadows and dunes of fine, white sand.

The climate is dry subtropical with an average temperature of 25 degrees centigrade (the coolest in Africa). Temperatures dropsomewhat from December to February due to the wind blowing from the Sahara, the Hamattan. The sea temperature variesbetween 21 and 25 degrees.

Archipelago de Cabo Verde

6C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

b. Factsheet:

7C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

Flag

Capital Praia

Surface Area 4,033 Km2

965 Km. of coast

Population 519,000

Independence 5th July 1975

Form of government Parliamentary democracy

PresidentPrime Minister

Pedro PiresJosé María Nieves

Currency Capeverdean escudo (CVE)

Total GDPGDP per head

3,905 million US$7,904 US$

Languages Portuguese - Creole

Density Hab./Km2 101 Hab./Km2

Annual growth 5.8%

Life expectancy 71.7 years

Urban population 57.3%

8C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

c. Tourism:

Tourism is one of the pillars of the economic development of Cape Verde. In the last few years the tourism sector hasundergone a spectacular evolution. The islands of Cape Verde received over 320,000 tourists during 2007.

On the island of Sal, there were 210,000 tourists that visited in 2007. The island of Sal receives 65% of theholidaymakers travelling to Cape Verde. Holidaymakers come mainly from Italy, Germany, Portugal and the Scandinaviancountries. The average stay is 4-7 days. As an emerging market, Cape Verde has a growth rate of incoming internationalholidaymakers that is above the world average (22% growth per year).

There are currently some 5,800 beds and 29 holiday establishments in the archipelago of Cape Verde. Hilton HotelsCorporation plans to open a hotel in Santa María (Island of Sal) during the second quarter of 2010. Riu and Iberostar planto open 2 hotels that will open at the end of 2010.

Most popular hotels: Island of Sal: Hotel Riu Funana-Garopa, Hotel Morabeza, Hotel Odjo d’Agua. Island of Boa Vista: Hotel Riu Karamboa, Hotel Ventaclub, Hotel Estoril Beach. Island of Maio: Hotel Belavista, Hotel Marilu, Residencial Bom Sossego.

Hotel Riu Funana – Island of Sal Hotel Morabeza – Island of SalHotel Riu Karamboa – Island of Boavista

9C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

Holiday demand in Cape Verde: Markets of origin (2008)

10C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

d. Photos of Cape Verde:

11C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

12C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

13C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

14C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

15C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

16C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

17C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

18C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

19C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

20C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

3. Why invest in Cape Verde?

Its privileged location:Situated between the continents of Europe, Africa and America.Situated right on the Atlantic shipping route.Communicated by regular sea and air connections.

Virgin market in full economic growth:6.9% economic growth in 2007.January 2008: integrated in the group of Middle Income Countries.Member of the WTO since July 2008.

Its political and economic stability:Parliamentary political system with free elections.Free from political, ethnic and religious conflict.Stable economic and social indicators.

Manpower:Freely available and low cost.Highly qualified.High production level.

The Caribbean of Europe:Spectacular beaches of white sand and crystal clear waterPerfect conditions for water sports (windsurf, kitesurf and surfing)Attractive sea fauna for fishing and scuba diving

The integration of Cape Verde into the world economy and the development of the private sector, backed up by the arrival of large groups of foreign investors, have brought about the need to establish legal and taxation conditions to create the rightframework of security to facilitate and guarantee the new foreign investments.

The Cape Verde Foreign Investors’ Statute (Act nº 89/IV/93) provides for the following incentives and guarantees:

Tax Incentives:

• Tax exemption for dividends and profits during the first five years of activity.•Tax exemption for dividends and profits re-invested in the same or another business in the country.• Tax exemption on interest payments.

A privileged taxation system for any investments that, after the exemption period has expired and they are not re-invested, will only be taxed at a rate of 10% on the profits and dividends (this represents a 50% tax reduction on Income Tax applied to non-residents, currently set at 20%)

21C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

By law, a foreign investment is considered to be any participation in financial business that is made with money broughtfrom abroad and that can be financially revalued. For foreign investments thus qualified, the State of Cape Verde, under itsown law, guarantees the non-discrimination of foreigners, who are given fair treatment both regarding the security andprotection of their assets and rights, and also the guarantee that they cannot become subject to nationalization orexpropriation, except in the case of for public use.

Guarantees:Protection of assets and rights inherent to foreign investment.Free transfer of dividends and profits abroad.No nationalisation or expropriation.Possibility of opening bank accounts in foreign currency.

Benefits and Incentives under the Tourism Utility Law for tourist investments: (Act nº42/IV/92)Exemption from customs duties on the importation of materials to be used in the construction and running of hotels and holiday complexes.Exemption from local property rates on buildings.100% tax exemption during the first five years.Tax deductions on profits reinvested in similar businesses.

22C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

4. Island of Maio:

a. Description:

23C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

Maio Island covers an area of 269 km², is 24 km from north tosouth and 16 km from east to west and lies to the south ofBoa Vista Island, in the Sotavento group of islands.

It appears arid and flat with a predominantly dry, sub-tropicalclimate featuring soft and stable temperatures with an annualaverage of 19 to 28º C.

•Capital: Vila do Maio.•Tourist areas: Vila do Maio and Morro.•4000 inhabitants.•Impressive beaches of white sand and crystal clear water.•Salt flats: 5000 m long and 1500 m wide.•Abundant exotic plant life (3500 hectares)•Home to turtles.

b. Transport:

There are currently four international airports in Cape Verde. One, the Amílcar Cabral international airport, is located onSal Island and receives the main international flights.

The other three are on the islands of Santiago (Praia international airport), Boa Vista (Boa Vista international airport) andSão Vicente (São Vicente international airport).

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Maio Island has an airport in its capital that receives flights from Santiago, the capital of Santiago Island (10 minutes) Thereare plans to enlarge it and make it international.

There are twice-weekly departures from the island's port in Vila do Maio to Praia.

The government has already approved the first phase of improvements to the port and its expansion and modernisation ina second phase.

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

5. Atlantic Beach Residential:

25C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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a). ATLANTIC BEACH Tourist Complex Location:

The Atlantic Beach tourist complex is located in thesouth west of Maio Island, a few minutes from thetourist area of Morro and from the capital, Vila doMaio.

The project is on the beachfront and covers an areaof 62,500 m².

ATLANTIC BEACH Tourist Complex

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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b). ATLANTIC BEACH Tourist Complex Description:

Located on the beachfront, the Atlantic Beach touristcomplex is an agreeable, family complex consisting of 322rooms distributed over more than 65,000 m².

This complex has 60 three-bedroom villas (one or twostoreys) and 262 two-bedroom apartments in blocks of six,eight and 12 homes. The single family homes have individualswimming pools.

Each can also enjoy the installations in the complex: Communal swimming pools. Reception. Cafeteria Bar/restaurant. Beach club, Diving club. Surf club.

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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c). Layout:

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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d). Types:

Type A Independent Villa

28 units 3 bedrooms 2 bathrooms Private swimming pool Approximate areas.

- 122,93m2 interior- 37,05m2 terrace- 368m2 private garden

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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Type B Duplex

32 units - 115,92m2 interior 3 bedrooms - 66,64m2 terrace 3 bathrooms - 246m2 private garden Private swimming pool

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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Block C (6 properties)Apartment Type2 bedrooms – 1 bathroom

IndoorArea

TerraceArea

Type A Apartment 70,97m2 15,22m2

Type B Apartment 70,08m2 15,22m2

Type C Apartment 70,97m2 15,65m2

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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Block D (8 properties)Apartment Type2 bedrooms – 1 bathroom

IndoorArea

TerraceArea

Type A Apartment 73,34m2 15,65m2

Type B Apartment 72,46m2 15,22m2

Type C Apartment 72,46m2 15,65m2

Type D Apartment 73,34m2 15,22m2

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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Block E (12 viviendas)Apartment Type2 bedrooms – 1 bathroom

Indoor Area Terrace Area

Interior Type apartment(10 units)

64,70m2 31,61m2

Corner Type apartment(2 units)

66,18m2 32,49m2

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

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e). Photo-report:

C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

35C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

36C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

37C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

38C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

39C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

40C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

41C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

42C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69

43C/ León y Castillo, 152 – 35600 Puerto del Rosario – FuerteventuraTel: +34.901.13.14.15/+34.928.85.60.17 - Fax: +34.928.85.16.69