Cuba to sign deal for largest golf resort complex in the Caribbean

Posted: 03-Nov-16 16:38

Before the year ends Cuba is to jointly sign a contract with a Spanish firm for the creation of a new golf resort complex in Punta Colorada, dubbed to become one of the largest in the Caribbean and all Latin America. According to a specialist from Cuba's Ministry of Tourism, all negotiations should be finalised before the end of the year with all details of the proposal with the Spanish counterpart agreed upon so that work on the new golfing complex can start as early as next year.

Cuba to sign deal for largest golf resort complex in the Caribbean

Now in its final stages before being granted full approval, an ambitious new golf project to be developed in Cuba’s westernmost province of Pinar del Rio is soon to become a solid reality, as soon as both involved parties put pen to paper and sign it off. If all goes to plan, the new Punta Colorada Golf Resort complex will be one of the largest not only in the Caribbean, but in all of Latin America.

A multi-millionaire deal the new Punta Colorada mega project, to be called Punta Colorada Golf & Marina, is to be developed across over 1,000 hectares (although we will have to wait for final announcement to confirm how much terrain it will actually encompass) and previews of 3D modelling in videos uploaded to YouTube say the complex could comprise up to seven new 18-hole championship golf courses and five luxury hotels offering a total of 1,060 rooms.

If the above-mentioned source is to be believed the complex would also entail two yacht clubs (with nine kilometres of coastline destined for the docking of mega yachts) one marina and around 20,000 residential homes. It will all be spread along 31 kilometres of coastline and 16 kilometres of secluded, pristine beach.

With the deal being struck between a Cuban, state-owned company and an undisclosed Spanish investor, Yuslenia Samuell, a business specialist at Cuba’s Ministry of Tourism revealed that all details are expected to be finalised before the end of 2016.
Samuell also added that a similar, although smaller in scale, golf project in El Salado (part of the Mariel Development Zone) is to be soon signed off by both parties, a Cuban one and Spanish counterpart.

Likewise, two additional golf projects, one in Havana’s eastern Bellomonte coastal area, partly financed with Chinese capital, and the other near Varadero (The Carbonera Club) with input from a British firm, have already been approved and are currently preparing to start building works.

Further than that, Samuell also revealed there are talks underway with companies from the United Arab Emirates and China, who are interested in exploring investment opportunities in the island’s tourism industry.

Cuba has been working hard to develop and expand its tourism options, with an increasing number of tourists and a lack of infrastructure to accommodate the influx of new visitors, especially now that direct commercial flights from the U.S. have been re-established and thanks to the relaxed embargo rules, travel to Cuba it’s now easier than ever for Americans.

To improve its tourism offering the island has been trying to attract foreign capital and in 2014 it relaxed the rules on foreign investment, now offering 99-year leases of terrain to investors. During the International Seminar of Tourism Journalists held in the island last June, Cuban authorities explained to reporters from 12 different countries how there are over 60 foreign investment projects currently under negotiation, including everything from hotels to golf courses and marinas.

Of these, Starwood’s takeover of two Havana hotels has already materialised, while there is a programme for the construction of 108,000 new rooms natiownide, 30,000 of which are to be financed with foreign funds from now to 2030. The Ministry of Tourism’s portfolio features a total of 127 projects, 25 of which are for building hotels, 97 for hotel management and five dedicated to marinas.


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