Three new golf course developments to watch
Three new golf course developments to watch
In spite of the slowdown in the development of golf courses in the United States, there are many new projects either in the planning or beginning stages of construction that still accepts investors. Below are three new golf course developments to watch.
The criteria we used was based on safety of the location, other amenities that are available to golf aficionados as well as any family members that may travel with them; and, of course, the overall strategy of the venture.
1. Forest Lakes Country Club – Halifax, Nova Scotia, Canada
Nestled in the northern region of Canada, the Forest Lakes Country Club and golf course – a project in progress by Terra Firma Development Corporation and Nicklaus Design is finishing stage one of construction of their first 18-hole course to open the first 9-holes in mid-2016. Additional courses in the next phase include the balance of the 18-holes followed by the clubhouse and an Executive course thereafter.
The only accommodations currently available in the immediate region are described as “horrendous” and Halifax, boasting of many first class hotels, is 100 km away.
2. Crystal Lagoons’ Porto Golf Marina – Alexandria, Egypt
The Sharm-el-Sheikh Project in Cairo has announced collaboration with Porto Group for its fourth project phase to include a mixed-use golf marina overlooking the Pyramids. Crystal Lagoons is known for its Middle Eastern development projects and investing in this project opens up more opportunities for the company in Dubai, Abu Dhabi, and Jordan.
Golf is one of the most desirable activities for businessmen visiting these locations. And the inclusion of luxury resort amenities only increases the potential for profits.
3. Ground Floor Golf Course Investment – Cuba
The last on our list is the London & Regional golf resort, which was approved by government in June 2015. With the U.S. embargo lifted, the expectation for a dramatic increase in tourism is definitely on the horizon: the island currently lacks in all types of facilities to house and entertain visitors. This golf course and resort will be located near the Varadero Beach Resort which is north of Havana. The resort will include a 100-room boutique hotel as well as private residences.
As an emerging market, Cuba offers those seeking long-term investments an excellent opportunity. Cuba desires foreign investments in specific sectors and while golf courses are not specifically on the list, when combined with a resort hotel it does meet the law.
Several U.S. companies that travelled to Cuba with President Obama in mid-March are requesting a green light to do business on the island. Starwood Hotel and Resorts Worldwide is one that has been approved to manage the local hotels on behalf of the Cuban government.
There is a warning sign provided by Canadian businessman, Mr. Tokmakjian, who was jailed for “bribing” his workers with dinners at local restaurants, televisions and vacations as rewards for performance. After being sentenced to 15 years in prison, he was released and deported back to Canada and all his investment property in Cuba over the last 20 years was confiscated, as confirmed by Wall Street Journal.
The distinction of what’s legal and what’s not is somehow not clear in Cuba where Laws can change just like weather.
Thus, this element of investing in Cuba landed it at the bottom of our list.
Just between us, there are several rumors that a top rated binary options broker named Binary Uno is behind one of these projects. Sadly, we have yet to confirm the rumors or nail down the particular site of interest.
Article by Groove Media Services Limited