Presidential Delegate for Investment, General Alvaro Baltodano, participated in the official launch of the first phase of the Tourism Complex La Santa Maria, located at the former site of Hotel Barlovento in San Juan del Sur, on Nicaragua´s southern Pacific coast.

The investment aims to convert San Juan del Sur into a world-class destination with a five-star tourism development.

According to General Baltodano, these investments are due to the high level of security in the country and the implementation of a model of dialogue and consensus between government, private companies and workers, which has allowed Nicaragua to transform and consolidate its growth. He added that this project will contribute to the economic and social development of the nation.

For his part, Julio Horacio Argüello, President of the Board of Directors of La Santa Maria, said the project will help the development of this area and be emblematic for the city. Arguello noted that it is built under the concept of a Mediterranean village and the properties have spectacular views of the bay.

The first phase will include 8 villas, 3 apartment buildings, a shopping area, a clubhouse with pool, gym, playground, multipurpose court, 24 hour security and perimeter wall. The project will be built in 2 stages totaling 20,000 square meters of construction, with an investment of US$40 million in Nicaraguan capital.

The second phase will feature 7 additional apartment buildings plus 5 signature villas, each with 5 ocean view rooms, plus 2 service area rooms.  It will be completed by 2020.

In addition to expanding tourism, this luxury urban center will create 500 new direct jobs and 150 indirect ones. These type of projects seek to attract “high-end” tourists.

CZF Press Department