Managua, Nicaragua – June 17, 2009 – This month marks a real turning point for real estate investment and new private sector oceanfront development in Nicaragua. In early June, the long embattled “Coastal Zones Law” finally passed, establishing a clear set of rules and guarantees for land ownership and development along ocean, lake and lagoon shorelines.
The spirit of the Coastal Zone Law is to regulate the use of coastal property and promote sustainable development along the shores, while ensuring access to the public to further promote tourism. The law stipulates that all oceanfront land within 50 meters of the high-tide line is public domain and cannot be built on in any form. The law also stipulates a 200-meter Restricted Zone starting from the 50-meter setback, allowing the development of tourism services such as hotels, resorts, residential development and marinas. A Commission for the Coastal Zone Development (CDZC) has been created as a consulting entity, including government, tourism, environmental and private businesses which will develop a Master Development Plan and other development policies. This law is clear in respecting private property and the rights of landowners who have acquired their land legally, and established supremacy over all other legislation. For owners and investors at Seaside Mariana Spa & Golf Resort, this law is both another layer of investment security and a reason to celebrate the potential for an economic boom in the area.
Chairman Kevin Fleming of Grupo Mariana Family of Resorts is positive and energized about the victory for private sector development. “The coastal law has been in discussion for the last five years with speculation and rumors to what it might mean to ownership along the coast and attracting foreign investment to Nicaragua. Now, we have the answer. With the private sector and government working together in concert, a clear and fair law has emerged through the democratic process. Respecting private property is another step in the right direction in Nicaragua, setting the stage for development in a country that is destined to be the next great tourism destination and investment location. We now have one more law that protects your private property – making ownership of Nicaraguan coastal property the most valuable real estate on planet earth.”
The passing of the Coastal Zones Law is timely in many ways. The Law will offer an added economic stimulus to Nicaragua’s budding Pacific Coast, boosting the regional economy and stimulating new investment. The law passes in concert with the upcoming launch of Phase 2 at Seaside Mariana Spa & Golf Resort, which will offer multiple ocean-front and course-side home lots, luxury and low-rise condominium homes, golf villas, as well as condotel investment opportunities with a soon to be named 5-star hospitality brand.
For additional, detailed information about Seaside Mariana Spa & Golf Resort and Nicaragua’s Coastal Zone Law, contact Kevin Fleming at firstname.lastname@example.org or visit www.seasidemariana.com.
Contact: Kevin Fleming, Chairman, Grupo Mariana Family of Resorts
Residencial Las Colinas, Esquina Sur Embajada de Espana 1C
Este Casa #192
505-2 276-0292 Nicaragua Office Tel
888-484-4425 North America Toll Free
0800-072-7292 United Kingdom