Basically, this is just the GENERAL IDEA, very raw because will need to be accurate having the legalities and technical issues solved.

The point is that seems that the project is so good that we can have a better profit PROPERTY than any other one in the area.

This is the master idea:

The property is 44 Has, aprox.  We will not touch the mountain, just the 21 in the front with the view to the ocean and the mountain itself.

On that area the master plan will be a condo master community with a reserve as part of it and will include THREE CONDO AREAS THAT CAN BE STAGES too… All of them aprox. Of 2 Has each one, that is 6 hectares total.  Each site with the possibility of build aprox. 4 or 5 towers of 2 units per story for a total of 36 to 45 condos per stage.  The total has to be defined but that will be around 100 / 135 Condos.  You can have 120 Condos like an average. .  The height, we suggest not to go above 3 stories.

Then we have 21 hectares less 6 hectares for the condos and maybe another 2 hectares for a common area for ALL THE PROJECT that will include a nice club house, pool, sports area, bbq, etc….  Then we have 13 hectares left.

From the rest of the land then we have to take out around 5 to 6 hectars for roads and non buildable areas and set ups,  river canyoh, etc. green areas, etc……….. So, we will have like 7 hectares that we can split in 2.000 sqm lots, or half acre that we will sell very cheap because they will have not a better view.   So, we will have like 30 / 40  homesites that if we sell in $40.000  which means $20 per sqm.   And will increase later, / $50.000 with services you probably will recover there the land and services that you will install on the land and have some profit … that will be around $1.200.000 in land sales minimum.

Of course, that will depend on the due diligence and also that we can segregate the land in the pieces I suggest, otherwise we will have to segregate different in larger tracks, like 5.000 sqm each one but seems that this is a very possible scenery.

Bernardo can not write the final report until have all the clearances from the Municipalities as well.

Also, the master plan and the budgets are related to the services so is better to wait to have all this which will happen soon.

Also a elevations survey have to be done to assure the process as well as many other details on this now BIG PROJECT which this way will become a $20 / $30  MILLION.

Again, I will be interested in having the title insurance from Stewart Title or Chicago Title for this project which I can get with Alberto in protection of your interest, our interest and your clients and investors as well.

The Spanish Group has announced that on their property of 244 Hectars they will have 1.100 homes in a mix of villas, condos and homes, a marina and a 60 Hectars Greg Norman Golf Course.  Also they will have two hotels, one SETAI and another one, all 5 stars.  The homes will be luxurious and the ranches of 5.000 sqm each one.  It is a 10 years project with a $600 investment.

They say on the news that THEY KNOW THAT OTHER BUSINESS AND COMPANIES WILL COME AROUND LA ROCA and they ARE WORRIED ABOUT THE LACK OF ZONING.

I am worried with the TIMING and this article putting our NEGOTIATION DIFFICULT WITH THE OWNER and also we have to present the project now before we have technical new restrictions.

LETS MOVE.  This is going to be like LOS SUENOS.!  Prices will go up.