Real Estate Development
Large Scale Real Estate developments: Condominium Act
We purchase individual residential properties for high-net-work UK and US family offices, but otherwise limit our involvement in small and medium scale property development.
For large-scale real estate development on the Island, there is only one developer we work with, who have a proven track record of building and selling hundreds of properties across 2 sites. We work with foreign investors who have plots of 10+ acres which they want to develop as mixed use residential (holiday village), business, and commercial sites.
We work with the developer, ZIPA, the central Ministries and local government authorities to launch and progress such projects.
We represent the end investor, whose security is taken by holding the long-lease on the plot. We release payments from the project bank account, and audit progress. Developments which pre-sell apartments and house plots can achieve very high ROE as the construction costs are funded from pre-sales and the equity owners capital is primarily used only for upfront launch and any gap funding.