[reidepot]

As we are all facing more difficult times and many people have concerns over the security of their investments I have received some information from the developer of the Caracola Resort project Mar-y-Casa that will give investors comfort of the security of their investments:

See below e-mail from the Developer.

We have been developing for more than 20 years now and the financial situation of the company is very solid. We have also diversified a lot. The company has invested massively in the last year in other projects. For example in Solar Energy, which is booming now. Our partners are financially key, and our revenue does not come only from construction but other sources too. Developing in Margarita has other advantages. Banks can finance up to 100% of the construction cost. Bearing in mind that the land has been paid already, there is no distress. The finance is secured at 100% for the whole development cost.

The key thing in the Caracola project is the common areas, which is what makes it a special development (and the location as well). Worst case (which would actually be the best for the investors) is that they would have the first block and all the common areas. The hotel operator is aware of this too and happy. So worst case scenario, we would develop the first phase altogether with the whole common areas and leave the other blocks until the end. We are starting the construction in November.

I understand that in the actual credit crunch, some investors might feel some stress, but there is no reason to be pessimistic about Caracola.