Cape Verde government reassures that land will still be sold to foreign investors

Tue, 19 Aug 2008 00:00:00 GMT

The Cape Verde government has clarified its position on land sales. It was rumoured that the government was going to ban the sale of land in Cape Verde to foreign investors, but this has been dismissed.

There had been speculation that the Cape Verde government was worried that too much foreign investment on the islands was damaging the environment and would as a result be banned, according to Property Wire. However, economy minister Fatima Fialho has clarified the situation.

"The policy of this government is to promote foreign investment and negotiations with each promoter will continue to be the same. Every time there is an investor proposal, either national or from overseas, it will be analysed," she said. Fialho did add that the government was committed to protecting the islands' environment.

Cape Verde has become "something of a property goldmine", according to the website. There has been much investment in the islands' infrastructure; a new international airport has been constructed as well as a ring road around the capital Praia. Further improvements are due to be made, including more roads linking resorts to the airport, which are expected to be completed in December.

The Cape Verde archipelago consists of 10 islands, 450km off the coast of West Africa and is popular with property investors due to its natural beauty; "rugged peaks, deep green valleys and banana plantations overlooking empty white beaches" all attract holiday home owners.

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Real Estate & Legal News in Cape Verde from Propertyshowrooms.com

Cape Verde government reassures that land will still be sold to foreign investors