Nica Projects Ltd.

Nica Projects Ltd.

February 01, 2007 16:00 ET

Nica Projects Opens Project Office in Managua, Nicaragua

Office to develop and market Nicaragua's only island residential real estate community facing both the ocean and a river

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2007) - Nica Projects Ltd., a leading specialty real estate development company, announces the opening of our in-country sales and project office in Managua, Nicaragua, to support the construction of the Tamarindo Beach & Ocean Estates resort project.

Tamarindo Ocean & Beach Estates is a 247 acre real estate community under development on the Isla Real Las Penas (Island), near Leon, Nicaragua. With support from USAID, infrastructure work including new access roads and the upgrading of the water and electricity capacity is currently underway. The multi-phased development project is due to start building beachfront and riverfront luxury homes, condominiums and casitas by the third quarter of 2007.

Led by John Bramwell, the office is staffed with Nicaraguan pre-sales and project engineering staff. The engineering team includes Yuri Pacheco as the head engineer and a specialist in Hydrology and Civil Engineering, and Naryn Pacheco, a chemical engineer.

"As new arrivals in Nicaragua, my family and I have been very pleasantly surprised with the charm of the Nicaraguan people and the absolute beauty of the country. Our design and construction teams are ensuring that Tamarindo Beach respects and incorporates the local culture and beauty of the Leon area, while ensuring that the Tamarindo Beach & Ocean Estates project is built to the highest esthetic standards," commented John Bramwell.

He continues, "Tamarindo Beach is the only Nicaraguan real estate development project on an island facing the Pacific Ocean. With our access to Tamarindo River, this project is taking full advantage of location to include beach and riverfront lots, views and water access. The fact that the project is the largest residential development project benefiting from the $175 million dollar USAID program means that our road and infrastructure updates will be amongst the best in Nicaragua. We want Tamarindo Beach to be the real estate development that everyone points to in Nicaragua."

During the past few months, this team has been working on the now completed masterplan design, civil engineering and architectural work. Tamarindo Beach has recently received approval the second marina in the country.

The Tamarindo Beach design includes a beachfront clubhouse, small hotel, several activity centers and close proximity to Leon (pop. 500,000) for food and clothes shopping, financial services, entertainment and vibrant cultural sites. More information about the project, including lot availability & pricing, location and infrastructure improvements is available from our website, www.nicaprojects.com.

About Nica Projects Ltd.

Nica Projects is a disciplined developer of exceptional residential properties in niche locations around the world. Working with knowledgeable trade professionals, Nica Projects carefully combines local and regional design etiquette with North American building standards to the create exceptional designs and buildings.

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