An exceptional opportunity exists to acquire a 1,271-acre parcel in the booming Placencia region of Belize. This parcel is now owned by the bank and is located across from the new international airport that is now under development. A planned pro golf course is also scheduled adjacent to the property. The paved main Placencia Road borders the entire length of the property for approximately 3 miles. The Caribbean beach is just 10 minutes afar. The location is ideal for development and the profit potential significant.
The optimal use is to develop the property into an affordable retirement community for US/Canada expats and baby boomers looking to retire in the tropics and into an affordable staff housing community. Due to the current real estate and tourism boom on the Placencia peninsula the price of real estate has escalated and has pushed non-wealthy foreigners and local resort and business owners, managers and staff out of the market. There exists an enormous demand for houses under $US 300,000 and even more so under $US 200,000 yet there is simply zero supply.
The development plan would be to build $200,000 retirement homes and $75,000 worker housing units. We develop in phases with the first phase being 100 acres with 300 home sites. At first we sell lots and build-to-suit homes. Lots would be priced at $US 50,000. We then design the remaining phases according to the market and the progress of the airport and golf course. We also build out and keep all the amenities that will be needed such as grocery stores, gas stations, medical clinics, coffee shops, shuttle buses, bowling, restaurants, etc so to create many on-going profit centres.
This market under $200,000 continues to be ignored by developers in the region yet this sector represents by far the largest supply of buyers. The recent opening of the Norwegian Cruise Line Harvest Caye private island and the many resort under construction are continuously fuelling the housing market and enlarging the gap between supply and demand.
The globally successful live-abroad promoter International Living has analysed this project and they see significant opportunity. They worked with a developer in Playa Del Carmen who started addressing this market and he is now the biggest developer in the Playa area. They also believe that if we can provide financing then this project would be an even bigger success since Belize is currently all cash market. There is a considerable supply of Americans ready to retire in English-speaking, safe, beautiful and friendly Belize.
Financially phase 1 with 300 lots would generate a net profit after taxes of $US 3,205,164. The bank is asking $US 3.5 million for the property. Hard costs for phase 1 are $US 2,046,530. The 12-phase project is calculated to generate a total profit of $US 76,961,968.
Contact Boris Mannsfeld in the USA at 303-881-3874, in Belize at 011-501-610- 0294 or via email at Boris@RealEstatePlacencia.com.