Nica Projects Ltd.

Nica Projects Ltd.

July 18, 2007 14:49 ET

Nica Projects Announces Receipt of Environmental Permit and Land Title Certification for Tamarindo Beach & Ocean Estates

Tamarindo Beach is Nicaragua's only island residential real estate community facing both the ocean and river

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2007) - Nica Projects Ltd., a leading specialty real estate development company, announces the receipt of the final permit and certification required to begin construction of the Tamarindo Beach & Ocean Estates resort project. Tamarindo Beach & Ocean Estates is a 247 acre real estate community on Isla Real Las Penas (Island), near Leon, Nicaragua.

The national land registry has provided all the documentation to certify the master title. The approval of the master title now allows title to be insured across the entire project, and subsequently to each lot.

Concurrently our environmental permit from MARENA, the national environmental agency, has also been received so Tamarindo Beach & Ocean Estates now has in hand all the permits to begin construction.

In April 2007, Tamarindo Beach received construction permits on 16 acres (7% total land holdings) for:

- Ninety-five (95) residential lots

- Forty-six (46) villas

- One (1) condominium complex with pool and tennis courts

- One (1) hotel

- One (1) clubhouse

- Four (4) parks

- Two (2) river docks

- One (1) floating river rancho

- Nine (9) acres of reserved nature area

- One (1) marina

- One (1) marina office building

- One (1) fishing lodge

- One (1) medical center.

Tamarindo Beach is the only project on Isla Real to have received all the construction and environmental permits, and the current infrastructure construction will now be accelerated to implement the water, sewage, power and telecommunications engineering and planning that has been taken place over the past four months.

The project is ahead of schedule as the multi-phased development project was scheduled to start building beachfront and riverfront luxury residences by the third quarter of 2007.

With close proximity to Nicaragua's second largest city, Leon (pop. 400,000), food and clothes shopping, financial services, entertainment and a vibrant cultural scene are less than 30 minutes from Tamarindo Beach.

More project information, including lot availability & pricing, location and infrastructure improvements is on our website, www.nicaprojects.com. For more information about the permits, call our office at 1-888-311-8555.

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 create exceptionally well
designed homes. For more information, visit http://www.nicaprojects.com.

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