The Opportunity
The developer is purchasing 1,700 acres of land on the island of
Tinhare in Bahia, Brazil with a view to creating a 5 star luxury spa resort called
Garapua Beach Resort in which it intends to incorporate a Legends Golf Course,
Pat Cash Tennis Academy, Football Academy, Trader Vic’s restaurant, Senor Pico’s
and Mai Tai Lounge. Negotiations are underway for these brands to be included
in this resort.
Real estate investment is growing due to the increasing popularity of Bahia as
the favourite holiday destination of Brazilians because of its year round climate,
pristine beaches and the excellent infrastructure already in place. It has excellent
accessibility with flights into Salvador from Europe and the USA yet is still
underdeveloped as a tourist market internationally and is predicted to grow
exponentially. There is a huge demand for tourist accommodation and the property
market is booming with foreign investment increasing as there are no restrictions
on foreign ownership and inward investment is being actively encouraged by the
Government. Brazil is also hosting the 2014 World Cup and is bidding for the
2016 Olympic Games.
