SOURCE: Grupo Mariana

Grupo Mariana

January 03, 2011 11:22 ET

New Vision for Nicaragua's Seaside Mariana Oceanfront Community Reflects Changing Market Conditions and Consumer Demand

Seaside Mariana Oceanfront Community in Nicaragua Dedicated to Giving Back 5% - 25% of Sales to Support Economic Growth of Surrounding Pacific Coast Region

MANAGUA, NICARAGUA--(Marketwire - January 3, 2011) - After four years of planning, the ground breaking Seaside Mariana community is moving forward under an evolving vision that recognizes the profound changes in the world's real estate markets and also the changing interests of individuals seeking an international lifestyle. Seaside Mariana now is planned around six individual neighborhoods set on 923 acres with over one mile of pristine Pacific Ocean beach.

Oceanfront Living & Vacation Packages

Grupo Mariana, the Nicaragua-based organization developing Seaside Mariana, has effectively revamped its strategy to reposition its real estate products, hospitality offerings and community alliances in order to meet and serve the needs and desires of investors and travelers. "We have carefully watched the market situation and listened to what's being said," says Kevin Fleming, chairman of Grupo Mariana. "As a result, we have carefully rethought and reconfigured our master plan to reflect market realities and the shifting interests of consumers."

The master plan for Seaside Mariana integrates a broader selection of residential options to widen the overall appeal. The community now includes low-rise beachfront condominiums, town homes and private bungalows in addition to the individual golf course home sites and golf villas featured in the original plan. Still an integral part of Seaside Mariana is a Jack Nicklaus Signature Golf Course, El Madroño, and Plumeria, a spa and health club.

Future plans for growth of the Seaside Mariana community also include a recently announced franchise agreement with Wyndham Hotels and Resorts, LLC, a subsidiary of Wyndham Worldwide Corporation, to flag the development and operation of the 330-room Wyndham Mariana Resort & Casino within the community's town center. Situated on 6 beachfront acres, the project will feature an oceanfront Wyndham® hotel, casino, condominiums, casitas and golf villas.

Truly Affordable Real Estate Opportunities

One new component, Laya Boutique Hotel and Bungalows, is an eco-conscious offering with 28 beachfront bungalows, with construction slated to begin in the first quarter of 2011.

Pricing is another area that Grupo Mariana has seriously examined in order to reflect the current market. As a result, prices for condos in three low-rise buildings in the first phase of the Mariana del Norte neighborhood are set between $99,000 and $260,000. Funding for this phase already is in place, with work expected to begin in the first quarter of 2011.

Fractional ownership options also will be available within Seaside Mariana in response to research and market demand indicating desire within the large Boomer market, many of whom don't wish to be tied to a single resort property. As Fleming points out, the Boomer generation is interested in the ability to travel widely and experience different places. Fractional options start at $14,520, providing a <i>one-twelfth </i>ownership that entitles an owner to four weeks annual usage.

5% For Futures Program

"Another aspect we are very proud of is our commitment to reinvest five percent of each real estate transaction at Seaside Mariana back into the economic development of the surrounding area," Fleming says of Grupo Mariana's 5% for Futures Program. "It's a win-win to help drive economic growth and sustainability, which enhances the lives of local citizens and makes the entire area more attractive to investors and visitors."

According to Fleming, Nicaragua continues to gain recognition for its emerging economy, political stability and attractiveness to visitors, with tourism increasing over 300 percent over the last decade. International investment also continues to rise. These factors have enhanced the country's status among investors and travelers.

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For additional information on the Ground Breaking Event at Seaside Mariana Oceanfront Community or the 5% for Futures Program, visit www.seasidemariana.com or contact Phil Alexander, Executive Vice President-Sales & Marketing, at phil@grupomariana.com. For information about available real estate within the community, contact Mark Solak at mark@maverickinvestorgroup.com.

Documents and/or Photos available for this release:
Seaside Mariana Executive Summary

To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 281096