San Cristobal International (SCI) announces that it has reached the midpoint for sales of its Tropical Working Farms (TWF), which are now being offered in the 560-hectare Big Bight plantation.
February 25, 2004 (Press Release) --
San Cristobal International (SCI) announces that it has reached the midpoint for sales of its Tropical Working Farms (TWF), which are now being offered in the 100-hectare, Phase I of the 560-hectare Big Bight plantation. SCI began marketing the 10-acre TWFs to its 30+ person waiting list in October 2003.
The Big Bight development is located on Isla Colon in the Bocas del Toro Archipelago of Panama. The plantation is unique to the area since it features free-titled, waterfront, Caribbean-island land at a price 10 times less than similar land currently available in the Caribbean region today. Investor-owners of the plantations buy in order to secure property and to earn short- and long-term revenue from a combination of medicinal plants and tropical hardwoods planted on their farms as cash crops. Investors also receive a reforestation visa, 25-year, tax-free status, a Panamanian ICB and offshore bank account, and eligibility for Panamanian residency.
“Frankly, we’re not surprised that Big Bight is selling so well,” admits Tom McMurrain, President of SCI. “Free-titled land on Panamanian islands is at a premium, the surveys and paperwork are completed and registered, and the San Cristobal Land Management team is thinning and planting the plantations at this very minute. Plus, USA Today recently ran a feature identifying Bocas as a prime, international tourism and tourism-investment region. That certainly bumped up the land value of the TWFs a few percentage points. Our 30+ Punta Pargo plantation owners across the bay on the Bocas mainland will benefit as well.”
SCI’s plans call for three phases of development in Big Bight. Phases II and III include over 100 2.5-acre luxury and residential home lots, two marinas and a resort and golf course. SCI has been chosen from several interested entities to develop Big Bight due to their previous successful performance in promoting Bocas and, as a result, being responsible for obtaining over US$5,000,000 in Foreign Direct Investment in the area over the past 18 months.
“We are in Bocas in order to develop what could be the next Key West, and the Big Bight development is an important part of our strategy,” continues McMurrain. “The Bocas del Toro Archipelago has tremendous potential. It is easily accessible by commercial flights, has little or no crime, it is out of the hurricane belt, and to top it off, has a delightful mixture of the look and feel of Bali and the Florida Keys. Timing is truly on our investor’s side since Panama is becoming known as a prime international tourism and retirement destination, but land prices are still similar to those in Costa Rica 20 years ago. We are very fortunate to have identified Bocas as an emerging growth real estate region and we are very excited to have this flagship Big Bight property in our portfolio.”
Ten-acre, waterfront Tropical Working Farms in Big Bight are priced at $126,000 and a limited number are still available. To purchase your piece of the Caribbean, contact Peter Ernst, Sales Director, at peter@sancristobalsa.net, 1-866-811-5324 (U.S.) or at +507-322-0913 (Panama).
The Big Bight development is located on Isla Colon in the Bocas del Toro Archipelago of Panama. The plantation is unique to the area since it features free-titled, waterfront, Caribbean-island land at a price 10 times less than similar land currently available in the Caribbean region today. Investor-owners of the plantations buy in order to secure property and to earn short- and long-term revenue from a combination of medicinal plants and tropical hardwoods planted on their farms as cash crops. Investors also receive a reforestation visa, 25-year, tax-free status, a Panamanian ICB and offshore bank account, and eligibility for Panamanian residency.
“Frankly, we’re not surprised that Big Bight is selling so well,” admits Tom McMurrain, President of SCI. “Free-titled land on Panamanian islands is at a premium, the surveys and paperwork are completed and registered, and the San Cristobal Land Management team is thinning and planting the plantations at this very minute. Plus, USA Today recently ran a feature identifying Bocas as a prime, international tourism and tourism-investment region. That certainly bumped up the land value of the TWFs a few percentage points. Our 30+ Punta Pargo plantation owners across the bay on the Bocas mainland will benefit as well.”
SCI’s plans call for three phases of development in Big Bight. Phases II and III include over 100 2.5-acre luxury and residential home lots, two marinas and a resort and golf course. SCI has been chosen from several interested entities to develop Big Bight due to their previous successful performance in promoting Bocas and, as a result, being responsible for obtaining over US$5,000,000 in Foreign Direct Investment in the area over the past 18 months.
“We are in Bocas in order to develop what could be the next Key West, and the Big Bight development is an important part of our strategy,” continues McMurrain. “The Bocas del Toro Archipelago has tremendous potential. It is easily accessible by commercial flights, has little or no crime, it is out of the hurricane belt, and to top it off, has a delightful mixture of the look and feel of Bali and the Florida Keys. Timing is truly on our investor’s side since Panama is becoming known as a prime international tourism and retirement destination, but land prices are still similar to those in Costa Rica 20 years ago. We are very fortunate to have identified Bocas as an emerging growth real estate region and we are very excited to have this flagship Big Bight property in our portfolio.”
Ten-acre, waterfront Tropical Working Farms in Big Bight are priced at $126,000 and a limited number are still available. To purchase your piece of the Caribbean, contact Peter Ernst, Sales Director, at peter@sancristobalsa.net, 1-866-811-5324 (U.S.) or at +507-322-0913 (Panama).
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