November 1st marked the official opening of Meliá Dunas Beach Resort & Spa, property developer The Resort Group (TRG)’s second resort on Sal Island, Cape Verde.
The resort, which consists of 1,251 rooms, offers guests fourteen bars, six restaurants, two large swimming pools and a Yhi Spa.
Dunas will be managed by international hotel group Meliá, TRG’s partner for its other resort on Sal – Meliá Tortuga Beach – which was launched in 2011.
Dunas is made up of a combination of hotel rooms and villas, owned by approximately 30% cash buyers and 70% pension investors. Properties owned by those investing through a Self Invested Personal Pension, known as a SIPP, will be part of the resort’s rental scheme. Investors will receive an annual return of around 7-8%, due to the resort’s expected average occupancy of 80%.
"Meliá Dunas Beach Resort & Spa is an excellent example of both a high-end holiday property investment and tourist destination," said Rob Jarrett, Chairman of the Resort Group. "For investors looking to expand their portfolio, the resort represents a chance not to be missed and, for travellers, it represents a luxurious resort that is second-to-none.”
Jarrett said that the demand for five-star accomodation on the Cape Verde islands is now outstripping supply. “Cape Verde is therefore a fantastic property investment location and we expect it to become hugely competitive. As the islands continue to develop, the cost to holiday in Cape Verde is only going to get higher, and we would advise potential investors to make their move early to maximise returns in this exciting market,” he explained.
Cape Verde’s latest tourist attraction was celebrated by a launch weekend at the end of October. The party started with speeches from Rob Jarrett and Cape Verdean Prime Minister Joe Maria Neves, among others.
The ceremony was followed by a party with performances from international popstars Tinie Tempah and Apl.de.Ap of the Black Eyed Peas.
The Resort Group’s presence in Cape Verde will be bolstered further by the arrival of Llana Beach Resort, which will be situated between the two existing resorts once completed in 2015 and White Sands, an ambitious development planned on neighbouring island Boa-Vista.