Nica Projects Ltd.

Nica Projects Ltd.

April 03, 2007 14:52 ET

Nica Projects Receives Construction and Development Permits for Construction at Tamarindo Beach & Ocean Estates

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

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Nica Projects Ltd. and affiliate Nicaragua Developments (BC) Ltd., leading specialty real estate development and holding companies, announce the receipt of the permits required to begin immediate construction of the Tamarindo Beach & Ocean Estates resort project. Tamarindo Beach & Ocean Estates is a 247 acre real estate community on the Isla Real Las Penas (Island), near Leon, Nicaragua.

With these permits, Tamarindo Beach & Ocean Estates is now approved for the construction 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 receive development and construction approvals. With receipt of these permits, residence and building design work is being accelerated and infrastructure construction begins immediately. With support from USAID, infrastructure work on new access roads and upgrading the water and electricity capacity has been underway for the past few weeks.

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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