Cape Verde port expansion announced

Cape Verde's government has announced a major expansion programme for a port on one of its main islands, something that could boost the tourist property market there.

Minister for infrastructures, transport and telecommunications Manuel Inocencio said that the Porto da Palmeira on the island of Sal is to be expanded at a cost of EUR50 million (GBP43 million), with the initial phase costing EUR19 million, Macauhub reports.

Such an investment follows a similar programme at the port of Praia, the national capital, Mr Inocencio added, with other islands to follow as part of a 20-25 year development programme.

The project may help increase cruise traffic to Sal, boosting its holiday destination profile and thus benefiting those investing in tourist property there.

In the shorter term, the government of the archipelago is currently in negotiations with banks to gain extra support for the property development sector in the country, Afrol.com reports.