Cubagolf S.A. Agrees real estate projects with German and Chinese companies

CON-IMPEX Touristik,Cubagolf S.A.,Esencia Hotels and Resorts, Carbonera SA,HAVANA, May 5th  (EFE)   Yesterday, Thursday May 4, Cubagolf S.A. agrees with German and Chinese companies for the construction of real estate complexes during the XXXVII International Tourism Fair, FitCuba 2017, which takes place in the eastern province of Holguin.

Cubagolf S.A. Will create a joint venture with the German company CON-IMPEX Touristik to build a real estate complex in Punta Gorda, in the central eastern province of Camagüey.

The director of Cubagolf S.A., Raudel García, explained that from now on a negotiation process will be opened, which should be concluded at the end of this year or beginning of 2018, with the constitution of the mixed company.

In a first phase, it is planned to build around 500 apartments, an international marina with capacity for 300 berths and a 5-star hotel of about 300 rooms, according to the official, quoted by the state-run Agencia Cubana de Noticias.

Cubagolf also agreed with the Chinese company Yantai Golden Mountain to develop a real estate project associated with golf courses in Loma Linda, in Guardalavaca beach, in the province of Holguin, now the fourth tourist center of the island.CON-IMPEX Touristik,Cubagolf S.A.,Esencia Hotels and Resorts, Carbonera SA,

Garcia said Friday that the Cuban company will sign an agreement with the Spanish group La Playa Golf & Resorts S.L. Destined to construct a real estate complex associated to the activity of the golf, in Punta Colorada, western province Pinar del Río, that by its size will be one of the majors of Latin America.

Cuba promotes the construction of new golf courses, a form of extra-hotel tourism that can attract other clients, seeking to diversify and accelerate services and complementary offers such as high standard accommodation.

Under the plan, the Bello Monte project is currently underway, 30 kilometers east of Havana, where Cubagolf and Beijing Entreprises Holdings Limited are building a luxury hotel, apartments and houses on 336 hectares.

It also stands on the outskirts of the western province of Matanzas, a site that will include more than 1,000 real estate units, a hotel with more than 100 rooms and an 18-hole golf course, run by the joint venture Carbonera SA, created with capital Cuban and British company Esencia Hotels and Resorts.

This year, the Cuban Ministry of Tourism has advanced to give green light to another similar project in partnership with Spanish chain Globalia to build condominiums and golf courses on the beach “El Salado”, a work that will be located between Havana and the Zone Mariel Development Special.

Cuba currently has 110 new projects in its portfolio of foreign investment business opportunities in the tourism sector, one of its main sources of income.

In 2016, the island achieved for the first time in its history the record number of 4 million foreign visitors and for the current year the projections aim to raise the reception of tourists to 4.2 million.