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Los Cielos

This document provides an overview of an investment opportunity involving a property called Los Cielos in Costa Rica. Los Cielos is a 1,000 acre property along the Pacific coast with nearly 800 acres of hillsides and 205 acres of beachfront. It is located near the town of Manuel Antonio, a popular tourist destination. The document outlines the conceptual development plan for Los Cielos, which includes an eco-lodge boutique hotel, spiritual/cultural center, and residential units. It highlights the attractive features of Los Cielos such as its seclusion and natural beauty, and notes the tourism growth occurring in the surrounding region. Qualified investors are being sought to purchase Los Cielos for $40.5

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Table Of Contents Investment Proposal • Investor Profile • Points to consider | attractions and attributes - General to Costa Rica - Specific to los Cielos • At the Planning or Nearing Completion Stage The Offering • Los Cielos | A General Overview: • A Conceptual Development Plan and Current Property Status - The Current Master Plan includes Location and The Region’s Characteristics • Location • The Region’s Characteristics Detailed Property Characteristics • Total • Additional very important features • Conclusion Information on Costa Rica of General & Business Interest • Fact Sheet • Business Climate • Facts that prove Costa Rica’s competitiveness • Accompanying investment and tourism- related foreign direct investment • Librería Internacional Airport’s dramatic effect on Costa Rica’s Northern Pacific Coast region of Guanacaste
Investment Proposal • Investor Profile • Points to consider | attractions and attributes - General to Costa Rica - Specific to los Cielos • At the Planning or Nearing Completion Stage
Investment Proposal NAI Costa Rica is retained as the exclusive advisor by the Owner of Los Cielos to arrange the sale of its fee simple and beach concession interest to qualified buyers for a purchase price of US$ 40,500,000. Investor Profile: • An international investor seeking to diversify his financial holdings into a stable investment during these times of financial uncertainties and currency fluctuations. • An up-market hotel or condominium developer having clients with environmental sensitivity or a craving for a more peaceful life; or • Part of a corporate or individual investor group or hedge fund attracted to an area of consistent stability with a growing presence on the world tourism stage. Points to Consider - attractions and attributes General to Costa Rica • Costa Rica provides safety and stability –no army – and has recently become part of the Central American Free Trade Association with the United States of America (CAFTA). • Thus opening up the telecommunications and insurance market to both competition and sector investment opportunities. • Costa Rica continues to attract both international corporations and smaller companies because of its educated workforce, lower wage structure, and free trade zones. • Health care is excellent and the government is encouraging
Investment Proposal Health Tourism by creating bills offering attractive investment benefits to health-related businesses. Private hospitals such as Cima in San Jose provide first class health care for a fraction of the cost of health care in the United States of America and Europe. Medical tourists typically recuperate in resort hotels such as the 5-star Intercontinental Hotel which is located next to Cima Hospital. • An increasingly affluent local population leads to more sophisticated shopping malls, restaurants, theaters, and other forms of entertainment. • In Costa Rica, the cost of living for Americans, Canadians, and Europeans is comparatively lower than at home. • Many United States and Canadian residents nearing retirement age find Costa Rica a safe and enjoyable haven in which to retire for they perceive Costa Rica as a country encompassing a more ecologically protected environment and a simpler life-style than those in other areas of the world. • Tourism, which began in earnest in 1987, has become one of Costa Rica’s fastest growing economic sectors. Since 1999 tourism has been earning more foreign exchange than bananas, pineapples and coffee combined. National parks and protected areas cover about 24% of the country’s land area: the largest in the world as a percentage of the country’s territory. As eco-tourism has flourished, these areas provide Costa Rica’s main competitive advantage by enabling tourists to take advantage of unspoiled tropical jungles and forest areas; many of which are in close proximity to the beaches. • Many 5-star hotels and resorts like Four Seasons, JW Marriott, Hilton Hotels, Intercontinental Hotels, and other major hotel and resorts chains, are found throughout Costa Rica.
Investment Proposal Specific to Los Cielos • Airport: An airport is only 15 minutes north of the property and is served by both the national airline and private charter businesses that provide daily commuter services to all areas of Costa Rica. One can fly into the area from San Jose in less than one half hour. • Hospital: Close to the Quepos airport and provides full medical services with fifty three rooms, three operating rooms, laboratories, drugstore, radiology, and ER needs. • Telephone: coverage is provided by a cellular-phone tower within walking distance to Los Cielos. • Water: Los Cielos has drilled a well to provide ample potable water for its hillside parcel. • Important local attractions: Neighboring Manuel Antonio/ Quepos is a busy, major international tourist destination with its: (i) Renowned Manuel Antonio National Park of diverse flora and fauna and pristine beaches; (ii) Hotels catering to the more affluent; (iii) Increasingly sophisticated and cosmopolitan shopping, restaurants, and nightlife. According to AM Costa Rica, the internet newspaper, Costa Rica Manuel Antonio is the biggest tourist draw in Costa Rica with over 300,000 visitors a year. Dominical, like Manuel Antonio town, is made up of small boutique hotels and restaurants and is just five minutes drive from Los Cielos. • Los Cielos’s Competitive Advantage: Many beach areas in Costa Rica, such as Jaco and Tamarindo whose
Investment Proposal beachfront developments became over developed during the 2004–2007 real estate boom so that their original natural beauty was either ruined or totally eliminated. In contrast, Los Cielos provides the developer an unspoiled, pristine beachfront and hillside forest preserve on which to work magic and create the perfect environment for the discerning and wealthy visitor to Costa Rica. At the Planning or Nearing Completion Stage • A major, new international airport is planned for construction in ‘Palmar Norte’ just 40 minutes south of Los Cielos, which will have a profound effect on the area. For example: when the Liberia International Airport opened up in Guanacaste, North Costa Rica, the region’s development exploded. The growth in air passenger traffic through the Liberia Airport has been a key factor for attracting a high level of investment to the area. The southern region is expecting the same result and many businesses are already poised to take advantage. (Please refer to the final section of this report for more in- depth information.) • The huge, new Pez Vela Marina, in nearby Quepos - world- renowned for its sport fishing of mainly marlin, tuna, dorado, and sailfish - will feature 308 slips for boats of up to 200 feet in length and has almost been completed. It is bound to draw an even wealthier class to the area and trigger many related tourism-offshoots.
The Offering • Los Cielos | A General Overview: • A Conceptual Development Plan and Current Property Status - The Current Master Plan includes
The Offering Los Cielos – A General Overview: Los Cielos: An appealing, timely, and spectacular investment vehicle of approximately 1,000 acres of prime property comprising two sections (created by the newly restructured and upgraded, Pacific Coast Highway that divides the property into its two diverse component parts): 1. Almost 800 acres of rolling hillsides that ascend gently and accessibly from the highway of which 473 acres with stunning ocean views are prepared and ready for development and 291 acres of exquisite, protected, higher-elevation, natural virgin forest – home to a myriad variety of rare and endangered flora and fauna – that surrounds and surmounts these hills; and 2. 205 acres of title, and to be obtained, oceanfront concession of one mile of pristine beach. All enveloped by the refreshing, cooling, and invigorating airs emanating from both the Central Highland downdrafts and the onshore breezes arriving unhindered from far-distant Oceania. It cannot be overstated that this is a mystical and extraordinary parcel of distinctive land tucked into the Central Pacific of Costa Rica. There are many beautiful properties worldwide awaiting development, but discovering one on the market that has such an overwhelming emotional tone would be almost impossible. Thus, Los Cielos encompasses the unique atmosphere sought by groups and individuals seeking solace and calm away from their otherwise frenetic and stressful lives.
The Offering So, for both investors and developers this is the ultimate investment opportunity, for there exists a wide and diverse target market for the finished product. The Conceptual Development Plan and Current Property Status. Los Cielos’s current owners have completed dirt roads to allow for automobile access to both the top of the hillside parcel and the beachfront parcel. They have spent the past few years developing the master plan and engineering for the hillside area (see schematic). A buyer has the flexibility to remake the Master Plan, if desired. The current Master Plan includes: • An eco lodge boutique hotel with 60 bungalow suites • A spiritual/cultural center • A spa and longevity center • Eco lodge branded villas – 16 units • A resident’s club and recreation center • Ocean view villa/townhomes - 40 units • Ocean view condominiums – 80 units (4-storey buildings with 4 units per floor) • Resort community entrance • Conservation easement • Springs – 100m set-back • 178 single family resident lots – 1,800m² to 10,000m² • Equestrian Center and stables
The Offering
The Offering Note: Equestrian Center with international dressage and show-jumping competition-standard horses and facilities are in demand in Costa Rica; as are recreational horses for long and short-distance tours and endurance competitions. An up-market tourist development in Guanacaste already has an international-standard polo field; whilst, a big residential development west of the capital, San José, has both a polo club and grounds comprising several playing fields and, in season, hosts international competitions. Luxurious private homes surrounding the fields have their own stable complexes. The property has been well-maintained and is currently in top- class condition.
Location and the Region’s Characteristics • Location • The Region’s Characteristics
Costa Rica Map
Location and the Region’s Characteristics Location: • In Costa Rica’s Central Pacific Region: • On its Pacific Coast Highway (Costenera) that provides easy access to a new airport, hospital, and marina; Adjacent to the town of Matapalo; and • Between Manuel Antonio (9° 22’ 60 N, 84° 9’ 0 W) and Dominical (9° 15’ 0” North, 83° 52’ 0” West). The Region’s Characteristics The Central Pacific Region has scenery unlike any other and is one of the most easily accessible regions in Costa Rica; especially, with the opening of the new toll road from San Jose to the Pacific Coast in the past few months. It is a narrow strip of stunning, mountainous coastal land that stretches from north of Jaco to Dominical, south of Manual Antonio. Sandy, magnificent beaches flanked by spectacular verdant cliffs and striking forests full of mango, palm and coconut trees and protected wildlife are primary draws to this area. It is an awe-inspiring landscape with its combination of ocean panorama and lush tropical vegetation. Moreover, it features national parks, nature reserves and exotic flora and fauna. World-renowned Manuel Antonio National Park is just one of the region’s many points of natural interest while Dominical is known for its natural beauty and rain forests. Additionally, ocean stretches along the Central Pacific provide the ultimate setting for water activities such as surfing, sport fishing, scuba diving and, not least, spectacular sunsets. The Central Pacific generally maintains a more arid climate than the Caribbean Coast or the South Pacific. However, it is more humid than Costa Rica’s Nicoya Peninsula to the northwest.
Location and the Region’s Characteristics The small town of Matapalo about 20 miles (32 km) south of Quepos, has earned the Blue Ecological Flag (Bandera Azul Ecológica) for its dedicated effort in conservation and commitment to preserving the quality of environment. There are two smaller villages surrounding Matapalo as well— Savegre to the north and Hatillo to the south. Beyond Hatillo sits the National Wildlife Refuge of Hacienda Barú and Uvita. Quepos and the world famous Manuel Antonio National Park reside to the north. Since the recent completion of the restructuring and widening of the formerly impassable coastal road (which meant that the Quepos/Dominical corridor had long been inaccessible for development), the Matapalo region is now only a short two-hour car ride from San Jose and primed for development.
Detailed Property Characteristics • Total • Additional very important features • Conclusion
Detailed Property Characteristics Total: approximately 1,000 acres that are divided by the newly- constructed and enlarged coastal highway into two parcels of approximately: • 205 acres of coastal land on the highway’s west side (title and to be obtained oceanfront concession), and • 764 acres of hillside on the highway’s east side. These two parcels together comprise four principal defining features: 1. Beach: Los Cielos’s one mile of undeveloped Pacific Ocean beach - Playa Linda, fronting its 200-acre coastland - is its crown jewel. • Mature palm trees have been planted along its length creating a ‘tropical feel’. • From this beach, one can either walk on foot or ride on horseback for 5-10 miles in either direction. 2. The coastal land: is currently used for farming, thus providing a blank canvas for development planning. Concessions for the immediate Maritime Zone beach land must be obtained. 3. Hillside portion: the gentle inclination of Los Cielos’s 764- acre hillside from sea level to 1500 feet in height is unique in the Quepos/Dominical corridor for it not only includes 291 acres in a permanent conservation easement to protect the rainforest, birds, butterflies, and other wildlife, as illustrated in the Master Plan, but also it:
Detailed Property Characteristics • is easily accessible; • has had a major portion of Melina plantation cleared, and the whole hillside parcel has been extensively engineered with several elevation tiers designed to allow for the hillside’s maximum development; • enjoys superb, breathtaking, and unencumbered Pacific Ocean views (south to Dominical and north to Manuel Antonio) and 180 to 360 degree views of both the surrounding rainforest and distant Mount Chapparro. Unlike the other typical land in the region, which may be: • too steep, • too forested for development – which hinders site views -; • too hard to access; • too far from the ocean, or no ocean frontage at all; • has had no land clearing or, • has little or no potable water. For example: It is common in the Quepos area to have water trucked in to augment the existing supply. Note: Hacienda Matapalo - adjacent to Los Cielos – with no beachfront, very steep terrain, and ongoing road construction, demonstrates strong area demand because over the past few years it has pre-sold 270 hillside units, totaling almost $60M. Moreover, its lower elevation lots pre-sold at prices ranging from $100K to $360K. Additionally, Hacienda Matapalo’s success in marketing has, by extension, increased the marketing appeal of Los Cielos.
Detailed Property Characteristics 4. Easement: the 291-acre rainforest, conservation easement surrounds the hill and higher land and provides a protected, natural, bio-diverse, conservation corridor for countless species of birds, butterflies, and wildlife. Additional very important features: • Water: there is an abundance of water on the property: wells, creeks, and a waterfall. • Electricity supply: electricity along the Pacific Coast Highway. • Irrigated Nursery: an irrigated nursery with 1200 palm trees i.e. Royal Palms, Fox Tail Palms, among others, was constructed at Los Cielos. • Reforestation: A total of 2,500 trees i.e. Saino, Ron Ron, Amarillón, Guanacaste and other species, were planted on the creek banks and the areas along the creeks located within Los Cielos to protect the water sources. • Telephone cell tower: provide cellular services and internet access to the area. • Public road: the coastal highway, which separates Los Cielos into coastland and hillside land, joins up with the Inter-American highway at Dominical in the south and Puntarenas in the north. The driving times from Los Cielos to: - San José, the capital - 2 hours; - Dominical - 5 minutes; and - Quepos - 20mins
Detailed Property Characteristics • Climate: Mount Chapparro, over 12,000 ft in height, provides a nighttime cooling affect for this area; and the cooling Pacific Ocean onshore breezes help to maintain this effect during the day. Throughout the summer months from November to March, Los Cielos enjoys temperatures 15 to 20 degrees Fahrenheit cooler overall than Quepos. • Soil Tests: Numerous soil test borings were conducted that demonstrated suitable conditions for construction of dwellings. Conclusion In summary Los Cielos offers the right individual, corporation or group a unique and special offering, in an unspoiled setting, for developing into a highly profitable investment venture.
Information on Costa Rica of General & Business Interest • Fact Sheet • Business Climate • Facts that prove Costa Rica’s competitiveness • Accompanying investment and tourism- related foreign direct investment • Librería Internacional Airport’s dramatic effect on Costa Rica’s Northern Pacific Coast region of Guanacaste
Information on Costa Rica of General & Business Interest Fact sheet Total area: E10_m%C2%B2” o “1 E10 m²” 51,100 km2 (19,652 sq mi) Percentage water: 0.7% Population: 4,253,877 (July 2009 est.). Density: 85/km2 (220/sq mi) GDP (PPP) Total: $48.881 billion. Per capita: $10,579 (July 2009 est.) GDP (nominal) Total: $29.318 billion. Per capita: $6,345 (July 2009 est.) Currency: Costa Rican Colon (CRC) Country Calling Code: 506 Time Zone: CTZ (GMT-6) Capital (and largest city) San José: 9°55’N 84°4’W 9.917°N84.067°W Official language: Spanish. English widely spoken Demonym: Costa Rican; Tico Government: Constitutional democracy (Presidential republic) President: Laura Chinchilla (Costa Rica’s first woman President sworn in on May 8, 2010. She was one of the previous President’s Vice-Presidents and his administration’s Minister of Justice. She was the governing PLN candidate for President in the 2010 general election, where she won with 46.76% of the vote. She is the sixth elected woman president of a Latin American country.) Education: Costa Rica has over 50 universities, colleges, and trade schools: many are bilingual. International Airports: Two international airports: one closes to the capital, San Jose, and one in Liberia, Guanacaste the northernmost city on the Pacific Northwestern Coast. A major, new international airport is planned for construction in ‘Palma Norte’ in the Osa Peninsula area in the country’s southern region. National Airports: Small commuter airports dot the country and are served by Sansa and Nature Air whose flights are frequent and inexpensive. Costa Rica, officially the Republic of Costa Rica is a country in Central America, bordered by the Pacific Ocean to the west and south and the Caribbean Sea to the east.
Information on Costa Rica of General & Business Interest Costa Rica, which means “Rich Coast”, constitutionally abolished its army permanently in 1949. It is the only Latin American country included in list of the world’s 22 older democracies. Costa Rica has consistently been among the top Latin American countries in terms of Human Development Index, and in 2007 was ranked 54th in the world. The country is ranked 3rd in the world, and 1st among the Environmental Performance Index. In 2007 the Costa Rican government announced plans for Costa Rica to become the first carbon-neutral country by 2021. New Economics Foundation, Costa Rica ranks first in country in the world. Almost two million foreign tourists, about half are American, visit Costa Rica annually. Business Climate: Costa Rica has positioned itself as a key destination for operations of multinational companies in a variety of industries, such as Advanced Manufacturing, Medical Devices and Services. Over 200 global companies have chosen Costa Rica as an establishment location. Plus, it offers favorable tax policies and Free Trade Zones. Several quasi-public private agencies support this business development. For example: • CINDE Costa Rican Investment Board) with offices in New York and Escazú promotes foreign investment in medical devices, electronics, and service sectors, as well as offering technical assistance in other areas. • PROCOMER (The Foreign Trade Corporation of Costa Rica) provides updated information related to Costa Rica’s export supply, export statistics, and opportunities to conduct on-line business procedures and invites interested persons to learn more about how to export from Costa Rica, a country full of top-quality products and services.
Information on Costa Rica of General & Business Interest It also makes every effort to facilitate the development of Costa Rica’s production sectors and support their export capacity to promote an effective insertion of Costa Rica’s production into world markets. Facts that prove Costa Rica´s competitiveness • Costa Rica is the 4th high-tech exporter in the world (World Development Indicators 2008, World Bank) • One of the most competitive destinations in Latin America for service operations (A.T. Kearney, Destination Latin America: A Near-Shore Alternative 2009) • FDI per capita = US$ 448. Costa Rica is one of the most competitive locations, above Latin America’s largest economies like Brazil, Mexico and Chile • Costa Rica’s per capita GDP per capita is almost 7 times higher than China’s • The total FDI inflows have grown an average 22% every year since 2000 Accompanying investment and tourism-related foreign direct investment Tourism has become Costa Rica’s second most important source of earnings (after the export of INTEL microelectronic components) and a major incentive for attracting foreign direct investment (FDI). The Costa Rican Central Bank estimates that in 2004 US$176.6 million tourism related FDI entered the country, with a growth rate of 27% in 2005, reaching US$224.5 million. Estimates for 2006 are even larger, with a 56% increase totaling US$325 million. In short, tourism has represented approximately a quarter of the total FDI for the last 3 years and Guanacaste is currently the second most important destination for tourism related FDI, after Puntarenas.
Information on Costa Rica of General & Business Interest Nevertheless, the Costa Rican Central Bank notes the increasing importance of non-traditional investments in what is typically referred to as residential tourism. For example, total real estate FDI increased from US$ 41 million in 2004 to $325million in 2007, primarily due to the arrival of highly renowned international hotel chains such as Four Seasons, Intercontinental, and Marriot that are solidly established throughout the country. Marriot recently opened their high-end JW Marriott in Guanacaste. All inclusive hotel chains like Barceló and RIU and others serve the ever expanding tourist market. The study notes that primarily vacationing homes and land purchases have fueled this dynamic. El Coco, Ocotal, Conchal, Flamingo, Tamarindo, Sámara, Nacascolo and el Golfo de Papagayo are noted as key locations for these investments, many of which are relatively close to Liberia’s International Airport. As stated by a recent report by Costa Rica’s Central Bank: “Traditionally, the main recipients of FDI have been industry and tourism. However, in recent years, there has been a growing tendency towards non-traditional purchases of housing, land, condominiums, villas, and commercial premises by foreigners… Indeed, housing developments provided with swimming pools and golf courses sum up the preferences of non-resident aliens” Countrywide real estate FDI has shown a gradual increase during the past four years accounting for 2.4% of Costa Rica’s GDP in 2007. Guanacaste has consistently been the main recipient with the exception of 2007, primarily due to important investments in Golfito and Quepos, including Hacienda El Dorado Megaproject. No figures exist to disaggregate total investment in residential and hotel projects, but both the number of condominiums and hotels in Guanacaste has soared to record levels.
Information on Costa Rica of General & Business Interest Residential tourism development has fewer linkages than hotel accommodations, and is associated with speculation and short life cycles. In addition, the development of residential tourism tends to be seen as a threat to the preservation of the authenticity tourists came looking for, potentially damaging the long run “no artificial ingredients” successful marketing campaign. The town of Santa Cruz, for example, is the area with the highest level of construction in the country for both 2006 and 2007, followed by Carrillo and Liberia, all part of the Guanacaste province. More and more, sales for condominiums and timeshares are marketed through a generic “sun and beach” marketing model, similar to the ones used in the Mediterranean and Dominican Republic, without sufficiently accentuating a high quality nature based tourism model that has differentiated Costa Rica, eroding its branding strategy. Liberia International Airport’s dramatic effect on Costa Rica’s northern Pacific coast region of Guanacaste: Increasing tourist arrivals through the Liberia airport have had a multiplicity of effects. Some – such as the expanded need for fire safety and health services - are derived directly from increased air traffic, while others are related to the indirect impacts of expanded tourism operations and real estate developments in the surrounding areas. In essence, there appears to be a mutually reinforcing relationship between the airport’s expansion and the development of Guanacaste and Liberia in particular as an international vacation destination. For instance, the Liberia airport has provided easier and more efficient access to Guanacaste beach resorts, and this in turn helps increase the profitability of these resorts. In addition, luxury developments are ideally constructed within 1 hour or 2.5 hours from an international airport.
Contact www.los-cielos.com enter login: enter2cielos • Diego Ouellette www.naicostarica.com diego@naicostarica.com +506-8821-5265 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax) • Carlos R. Robles www.naicostarica.com crobles@naicostarica.com +506-8375-9138 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax) • Ronald Umaña www.naicostarica.com rumana@naicostarica.com +506-8878-9988 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax)
Los Cielos
Los Cielos

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Los Cielos

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    Table Of Contents Investment Proposal • Investor Profile • Points to consider | attractions and attributes - General to Costa Rica - Specific to los Cielos • At the Planning or Nearing Completion Stage The Offering • Los Cielos | A General Overview: • A Conceptual Development Plan and Current Property Status - The Current Master Plan includes Location and The Region’s Characteristics • Location • The Region’s Characteristics Detailed Property Characteristics • Total • Additional very important features • Conclusion Information on Costa Rica of General & Business Interest • Fact Sheet • Business Climate • Facts that prove Costa Rica’s competitiveness • Accompanying investment and tourism- related foreign direct investment • Librería Internacional Airport’s dramatic effect on Costa Rica’s Northern Pacific Coast region of Guanacaste
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    Investment Proposal • Investor Profile • Points to consider | attractions and attributes - General to Costa Rica - Specific to los Cielos • At the Planning or Nearing Completion Stage
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    Investment Proposal NAI CostaRica is retained as the exclusive advisor by the Owner of Los Cielos to arrange the sale of its fee simple and beach concession interest to qualified buyers for a purchase price of US$ 40,500,000. Investor Profile: • An international investor seeking to diversify his financial holdings into a stable investment during these times of financial uncertainties and currency fluctuations. • An up-market hotel or condominium developer having clients with environmental sensitivity or a craving for a more peaceful life; or • Part of a corporate or individual investor group or hedge fund attracted to an area of consistent stability with a growing presence on the world tourism stage. Points to Consider - attractions and attributes General to Costa Rica • Costa Rica provides safety and stability –no army – and has recently become part of the Central American Free Trade Association with the United States of America (CAFTA). • Thus opening up the telecommunications and insurance market to both competition and sector investment opportunities. • Costa Rica continues to attract both international corporations and smaller companies because of its educated workforce, lower wage structure, and free trade zones. • Health care is excellent and the government is encouraging
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    Investment Proposal Health Tourism by creating bills offering attractive investment benefits to health-related businesses. Private hospitals such as Cima in San Jose provide first class health care for a fraction of the cost of health care in the United States of America and Europe. Medical tourists typically recuperate in resort hotels such as the 5-star Intercontinental Hotel which is located next to Cima Hospital. • An increasingly affluent local population leads to more sophisticated shopping malls, restaurants, theaters, and other forms of entertainment. • In Costa Rica, the cost of living for Americans, Canadians, and Europeans is comparatively lower than at home. • Many United States and Canadian residents nearing retirement age find Costa Rica a safe and enjoyable haven in which to retire for they perceive Costa Rica as a country encompassing a more ecologically protected environment and a simpler life-style than those in other areas of the world. • Tourism, which began in earnest in 1987, has become one of Costa Rica’s fastest growing economic sectors. Since 1999 tourism has been earning more foreign exchange than bananas, pineapples and coffee combined. National parks and protected areas cover about 24% of the country’s land area: the largest in the world as a percentage of the country’s territory. As eco-tourism has flourished, these areas provide Costa Rica’s main competitive advantage by enabling tourists to take advantage of unspoiled tropical jungles and forest areas; many of which are in close proximity to the beaches. • Many 5-star hotels and resorts like Four Seasons, JW Marriott, Hilton Hotels, Intercontinental Hotels, and other major hotel and resorts chains, are found throughout Costa Rica.
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    Investment Proposal Specific toLos Cielos • Airport: An airport is only 15 minutes north of the property and is served by both the national airline and private charter businesses that provide daily commuter services to all areas of Costa Rica. One can fly into the area from San Jose in less than one half hour. • Hospital: Close to the Quepos airport and provides full medical services with fifty three rooms, three operating rooms, laboratories, drugstore, radiology, and ER needs. • Telephone: coverage is provided by a cellular-phone tower within walking distance to Los Cielos. • Water: Los Cielos has drilled a well to provide ample potable water for its hillside parcel. • Important local attractions: Neighboring Manuel Antonio/ Quepos is a busy, major international tourist destination with its: (i) Renowned Manuel Antonio National Park of diverse flora and fauna and pristine beaches; (ii) Hotels catering to the more affluent; (iii) Increasingly sophisticated and cosmopolitan shopping, restaurants, and nightlife. According to AM Costa Rica, the internet newspaper, Costa Rica Manuel Antonio is the biggest tourist draw in Costa Rica with over 300,000 visitors a year. Dominical, like Manuel Antonio town, is made up of small boutique hotels and restaurants and is just five minutes drive from Los Cielos. • Los Cielos’s Competitive Advantage: Many beach areas in Costa Rica, such as Jaco and Tamarindo whose
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    Investment Proposal beachfront developments became over developed during the 2004–2007 real estate boom so that their original natural beauty was either ruined or totally eliminated. In contrast, Los Cielos provides the developer an unspoiled, pristine beachfront and hillside forest preserve on which to work magic and create the perfect environment for the discerning and wealthy visitor to Costa Rica. At the Planning or Nearing Completion Stage • A major, new international airport is planned for construction in ‘Palmar Norte’ just 40 minutes south of Los Cielos, which will have a profound effect on the area. For example: when the Liberia International Airport opened up in Guanacaste, North Costa Rica, the region’s development exploded. The growth in air passenger traffic through the Liberia Airport has been a key factor for attracting a high level of investment to the area. The southern region is expecting the same result and many businesses are already poised to take advantage. (Please refer to the final section of this report for more in- depth information.) • The huge, new Pez Vela Marina, in nearby Quepos - world- renowned for its sport fishing of mainly marlin, tuna, dorado, and sailfish - will feature 308 slips for boats of up to 200 feet in length and has almost been completed. It is bound to draw an even wealthier class to the area and trigger many related tourism-offshoots.
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    The Offering • Los Cielos | A General Overview: • A Conceptual Development Plan and Current Property Status - The Current Master Plan includes
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    The Offering Los Cielos– A General Overview: Los Cielos: An appealing, timely, and spectacular investment vehicle of approximately 1,000 acres of prime property comprising two sections (created by the newly restructured and upgraded, Pacific Coast Highway that divides the property into its two diverse component parts): 1. Almost 800 acres of rolling hillsides that ascend gently and accessibly from the highway of which 473 acres with stunning ocean views are prepared and ready for development and 291 acres of exquisite, protected, higher-elevation, natural virgin forest – home to a myriad variety of rare and endangered flora and fauna – that surrounds and surmounts these hills; and 2. 205 acres of title, and to be obtained, oceanfront concession of one mile of pristine beach. All enveloped by the refreshing, cooling, and invigorating airs emanating from both the Central Highland downdrafts and the onshore breezes arriving unhindered from far-distant Oceania. It cannot be overstated that this is a mystical and extraordinary parcel of distinctive land tucked into the Central Pacific of Costa Rica. There are many beautiful properties worldwide awaiting development, but discovering one on the market that has such an overwhelming emotional tone would be almost impossible. Thus, Los Cielos encompasses the unique atmosphere sought by groups and individuals seeking solace and calm away from their otherwise frenetic and stressful lives.
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    The Offering So, forboth investors and developers this is the ultimate investment opportunity, for there exists a wide and diverse target market for the finished product. The Conceptual Development Plan and Current Property Status. Los Cielos’s current owners have completed dirt roads to allow for automobile access to both the top of the hillside parcel and the beachfront parcel. They have spent the past few years developing the master plan and engineering for the hillside area (see schematic). A buyer has the flexibility to remake the Master Plan, if desired. The current Master Plan includes: • An eco lodge boutique hotel with 60 bungalow suites • A spiritual/cultural center • A spa and longevity center • Eco lodge branded villas – 16 units • A resident’s club and recreation center • Ocean view villa/townhomes - 40 units • Ocean view condominiums – 80 units (4-storey buildings with 4 units per floor) • Resort community entrance • Conservation easement • Springs – 100m set-back • 178 single family resident lots – 1,800m² to 10,000m² • Equestrian Center and stables
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    The Offering Note: EquestrianCenter with international dressage and show-jumping competition-standard horses and facilities are in demand in Costa Rica; as are recreational horses for long and short-distance tours and endurance competitions. An up-market tourist development in Guanacaste already has an international-standard polo field; whilst, a big residential development west of the capital, San José, has both a polo club and grounds comprising several playing fields and, in season, hosts international competitions. Luxurious private homes surrounding the fields have their own stable complexes. The property has been well-maintained and is currently in top- class condition.
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    Location and the Region’sCharacteristics • Location • The Region’s Characteristics
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    Location and the Region’sCharacteristics Location: • In Costa Rica’s Central Pacific Region: • On its Pacific Coast Highway (Costenera) that provides easy access to a new airport, hospital, and marina; Adjacent to the town of Matapalo; and • Between Manuel Antonio (9° 22’ 60 N, 84° 9’ 0 W) and Dominical (9° 15’ 0” North, 83° 52’ 0” West). The Region’s Characteristics The Central Pacific Region has scenery unlike any other and is one of the most easily accessible regions in Costa Rica; especially, with the opening of the new toll road from San Jose to the Pacific Coast in the past few months. It is a narrow strip of stunning, mountainous coastal land that stretches from north of Jaco to Dominical, south of Manual Antonio. Sandy, magnificent beaches flanked by spectacular verdant cliffs and striking forests full of mango, palm and coconut trees and protected wildlife are primary draws to this area. It is an awe-inspiring landscape with its combination of ocean panorama and lush tropical vegetation. Moreover, it features national parks, nature reserves and exotic flora and fauna. World-renowned Manuel Antonio National Park is just one of the region’s many points of natural interest while Dominical is known for its natural beauty and rain forests. Additionally, ocean stretches along the Central Pacific provide the ultimate setting for water activities such as surfing, sport fishing, scuba diving and, not least, spectacular sunsets. The Central Pacific generally maintains a more arid climate than the Caribbean Coast or the South Pacific. However, it is more humid than Costa Rica’s Nicoya Peninsula to the northwest.
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    Location and the Region’sCharacteristics The small town of Matapalo about 20 miles (32 km) south of Quepos, has earned the Blue Ecological Flag (Bandera Azul Ecológica) for its dedicated effort in conservation and commitment to preserving the quality of environment. There are two smaller villages surrounding Matapalo as well— Savegre to the north and Hatillo to the south. Beyond Hatillo sits the National Wildlife Refuge of Hacienda Barú and Uvita. Quepos and the world famous Manuel Antonio National Park reside to the north. Since the recent completion of the restructuring and widening of the formerly impassable coastal road (which meant that the Quepos/Dominical corridor had long been inaccessible for development), the Matapalo region is now only a short two-hour car ride from San Jose and primed for development.
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    Detailed Property Characteristics • Total • Additional very important features • Conclusion
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    Detailed Property Characteristics Total: approximately 1,000 acres that are divided by the newly- constructed and enlarged coastal highway into two parcels of approximately: • 205 acres of coastal land on the highway’s west side (title and to be obtained oceanfront concession), and • 764 acres of hillside on the highway’s east side. These two parcels together comprise four principal defining features: 1. Beach: Los Cielos’s one mile of undeveloped Pacific Ocean beach - Playa Linda, fronting its 200-acre coastland - is its crown jewel. • Mature palm trees have been planted along its length creating a ‘tropical feel’. • From this beach, one can either walk on foot or ride on horseback for 5-10 miles in either direction. 2. The coastal land: is currently used for farming, thus providing a blank canvas for development planning. Concessions for the immediate Maritime Zone beach land must be obtained. 3. Hillside portion: the gentle inclination of Los Cielos’s 764- acre hillside from sea level to 1500 feet in height is unique in the Quepos/Dominical corridor for it not only includes 291 acres in a permanent conservation easement to protect the rainforest, birds, butterflies, and other wildlife, as illustrated in the Master Plan, but also it:
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    Detailed Property Characteristics • is easily accessible; • has had a major portion of Melina plantation cleared, and the whole hillside parcel has been extensively engineered with several elevation tiers designed to allow for the hillside’s maximum development; • enjoys superb, breathtaking, and unencumbered Pacific Ocean views (south to Dominical and north to Manuel Antonio) and 180 to 360 degree views of both the surrounding rainforest and distant Mount Chapparro. Unlike the other typical land in the region, which may be: • too steep, • too forested for development – which hinders site views -; • too hard to access; • too far from the ocean, or no ocean frontage at all; • has had no land clearing or, • has little or no potable water. For example: It is common in the Quepos area to have water trucked in to augment the existing supply. Note: Hacienda Matapalo - adjacent to Los Cielos – with no beachfront, very steep terrain, and ongoing road construction, demonstrates strong area demand because over the past few years it has pre-sold 270 hillside units, totaling almost $60M. Moreover, its lower elevation lots pre-sold at prices ranging from $100K to $360K. Additionally, Hacienda Matapalo’s success in marketing has, by extension, increased the marketing appeal of Los Cielos.
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    Detailed Property Characteristics 4. Easement: the 291-acre rainforest, conservation easement surrounds the hill and higher land and provides a protected, natural, bio-diverse, conservation corridor for countless species of birds, butterflies, and wildlife. Additional very important features: • Water: there is an abundance of water on the property: wells, creeks, and a waterfall. • Electricity supply: electricity along the Pacific Coast Highway. • Irrigated Nursery: an irrigated nursery with 1200 palm trees i.e. Royal Palms, Fox Tail Palms, among others, was constructed at Los Cielos. • Reforestation: A total of 2,500 trees i.e. Saino, Ron Ron, Amarillón, Guanacaste and other species, were planted on the creek banks and the areas along the creeks located within Los Cielos to protect the water sources. • Telephone cell tower: provide cellular services and internet access to the area. • Public road: the coastal highway, which separates Los Cielos into coastland and hillside land, joins up with the Inter-American highway at Dominical in the south and Puntarenas in the north. The driving times from Los Cielos to: - San José, the capital - 2 hours; - Dominical - 5 minutes; and - Quepos - 20mins
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    Detailed Property Characteristics • Climate: Mount Chapparro, over 12,000 ft in height, provides a nighttime cooling affect for this area; and the cooling Pacific Ocean onshore breezes help to maintain this effect during the day. Throughout the summer months from November to March, Los Cielos enjoys temperatures 15 to 20 degrees Fahrenheit cooler overall than Quepos. • Soil Tests: Numerous soil test borings were conducted that demonstrated suitable conditions for construction of dwellings. Conclusion In summary Los Cielos offers the right individual, corporation or group a unique and special offering, in an unspoiled setting, for developing into a highly profitable investment venture.
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    Information on CostaRica of General & Business Interest • Fact Sheet • Business Climate • Facts that prove Costa Rica’s competitiveness • Accompanying investment and tourism- related foreign direct investment • Librería Internacional Airport’s dramatic effect on Costa Rica’s Northern Pacific Coast region of Guanacaste
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    Information on CostaRica of General & Business Interest Fact sheet Total area: E10_m%C2%B2” o “1 E10 m²” 51,100 km2 (19,652 sq mi) Percentage water: 0.7% Population: 4,253,877 (July 2009 est.). Density: 85/km2 (220/sq mi) GDP (PPP) Total: $48.881 billion. Per capita: $10,579 (July 2009 est.) GDP (nominal) Total: $29.318 billion. Per capita: $6,345 (July 2009 est.) Currency: Costa Rican Colon (CRC) Country Calling Code: 506 Time Zone: CTZ (GMT-6) Capital (and largest city) San José: 9°55’N 84°4’W 9.917°N84.067°W Official language: Spanish. English widely spoken Demonym: Costa Rican; Tico Government: Constitutional democracy (Presidential republic) President: Laura Chinchilla (Costa Rica’s first woman President sworn in on May 8, 2010. She was one of the previous President’s Vice-Presidents and his administration’s Minister of Justice. She was the governing PLN candidate for President in the 2010 general election, where she won with 46.76% of the vote. She is the sixth elected woman president of a Latin American country.) Education: Costa Rica has over 50 universities, colleges, and trade schools: many are bilingual. International Airports: Two international airports: one closes to the capital, San Jose, and one in Liberia, Guanacaste the northernmost city on the Pacific Northwestern Coast. A major, new international airport is planned for construction in ‘Palma Norte’ in the Osa Peninsula area in the country’s southern region. National Airports: Small commuter airports dot the country and are served by Sansa and Nature Air whose flights are frequent and inexpensive. Costa Rica, officially the Republic of Costa Rica is a country in Central America, bordered by the Pacific Ocean to the west and south and the Caribbean Sea to the east.
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    Information on CostaRica of General & Business Interest Costa Rica, which means “Rich Coast”, constitutionally abolished its army permanently in 1949. It is the only Latin American country included in list of the world’s 22 older democracies. Costa Rica has consistently been among the top Latin American countries in terms of Human Development Index, and in 2007 was ranked 54th in the world. The country is ranked 3rd in the world, and 1st among the Environmental Performance Index. In 2007 the Costa Rican government announced plans for Costa Rica to become the first carbon-neutral country by 2021. New Economics Foundation, Costa Rica ranks first in country in the world. Almost two million foreign tourists, about half are American, visit Costa Rica annually. Business Climate: Costa Rica has positioned itself as a key destination for operations of multinational companies in a variety of industries, such as Advanced Manufacturing, Medical Devices and Services. Over 200 global companies have chosen Costa Rica as an establishment location. Plus, it offers favorable tax policies and Free Trade Zones. Several quasi-public private agencies support this business development. For example: • CINDE Costa Rican Investment Board) with offices in New York and Escazú promotes foreign investment in medical devices, electronics, and service sectors, as well as offering technical assistance in other areas. • PROCOMER (The Foreign Trade Corporation of Costa Rica) provides updated information related to Costa Rica’s export supply, export statistics, and opportunities to conduct on-line business procedures and invites interested persons to learn more about how to export from Costa Rica, a country full of top-quality products and services.
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    Information on CostaRica of General & Business Interest It also makes every effort to facilitate the development of Costa Rica’s production sectors and support their export capacity to promote an effective insertion of Costa Rica’s production into world markets. Facts that prove Costa Rica´s competitiveness • Costa Rica is the 4th high-tech exporter in the world (World Development Indicators 2008, World Bank) • One of the most competitive destinations in Latin America for service operations (A.T. Kearney, Destination Latin America: A Near-Shore Alternative 2009) • FDI per capita = US$ 448. Costa Rica is one of the most competitive locations, above Latin America’s largest economies like Brazil, Mexico and Chile • Costa Rica’s per capita GDP per capita is almost 7 times higher than China’s • The total FDI inflows have grown an average 22% every year since 2000 Accompanying investment and tourism-related foreign direct investment Tourism has become Costa Rica’s second most important source of earnings (after the export of INTEL microelectronic components) and a major incentive for attracting foreign direct investment (FDI). The Costa Rican Central Bank estimates that in 2004 US$176.6 million tourism related FDI entered the country, with a growth rate of 27% in 2005, reaching US$224.5 million. Estimates for 2006 are even larger, with a 56% increase totaling US$325 million. In short, tourism has represented approximately a quarter of the total FDI for the last 3 years and Guanacaste is currently the second most important destination for tourism related FDI, after Puntarenas.
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    Information on CostaRica of General & Business Interest Nevertheless, the Costa Rican Central Bank notes the increasing importance of non-traditional investments in what is typically referred to as residential tourism. For example, total real estate FDI increased from US$ 41 million in 2004 to $325million in 2007, primarily due to the arrival of highly renowned international hotel chains such as Four Seasons, Intercontinental, and Marriot that are solidly established throughout the country. Marriot recently opened their high-end JW Marriott in Guanacaste. All inclusive hotel chains like Barceló and RIU and others serve the ever expanding tourist market. The study notes that primarily vacationing homes and land purchases have fueled this dynamic. El Coco, Ocotal, Conchal, Flamingo, Tamarindo, Sámara, Nacascolo and el Golfo de Papagayo are noted as key locations for these investments, many of which are relatively close to Liberia’s International Airport. As stated by a recent report by Costa Rica’s Central Bank: “Traditionally, the main recipients of FDI have been industry and tourism. However, in recent years, there has been a growing tendency towards non-traditional purchases of housing, land, condominiums, villas, and commercial premises by foreigners… Indeed, housing developments provided with swimming pools and golf courses sum up the preferences of non-resident aliens” Countrywide real estate FDI has shown a gradual increase during the past four years accounting for 2.4% of Costa Rica’s GDP in 2007. Guanacaste has consistently been the main recipient with the exception of 2007, primarily due to important investments in Golfito and Quepos, including Hacienda El Dorado Megaproject. No figures exist to disaggregate total investment in residential and hotel projects, but both the number of condominiums and hotels in Guanacaste has soared to record levels.
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    Information on CostaRica of General & Business Interest Residential tourism development has fewer linkages than hotel accommodations, and is associated with speculation and short life cycles. In addition, the development of residential tourism tends to be seen as a threat to the preservation of the authenticity tourists came looking for, potentially damaging the long run “no artificial ingredients” successful marketing campaign. The town of Santa Cruz, for example, is the area with the highest level of construction in the country for both 2006 and 2007, followed by Carrillo and Liberia, all part of the Guanacaste province. More and more, sales for condominiums and timeshares are marketed through a generic “sun and beach” marketing model, similar to the ones used in the Mediterranean and Dominican Republic, without sufficiently accentuating a high quality nature based tourism model that has differentiated Costa Rica, eroding its branding strategy. Liberia International Airport’s dramatic effect on Costa Rica’s northern Pacific coast region of Guanacaste: Increasing tourist arrivals through the Liberia airport have had a multiplicity of effects. Some – such as the expanded need for fire safety and health services - are derived directly from increased air traffic, while others are related to the indirect impacts of expanded tourism operations and real estate developments in the surrounding areas. In essence, there appears to be a mutually reinforcing relationship between the airport’s expansion and the development of Guanacaste and Liberia in particular as an international vacation destination. For instance, the Liberia airport has provided easier and more efficient access to Guanacaste beach resorts, and this in turn helps increase the profitability of these resorts. In addition, luxury developments are ideally constructed within 1 hour or 2.5 hours from an international airport.
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    Contact www.los-cielos.com enterlogin: enter2cielos • Diego Ouellette www.naicostarica.com diego@naicostarica.com +506-8821-5265 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax) • Carlos R. Robles www.naicostarica.com crobles@naicostarica.com +506-8375-9138 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax) • Ronald Umaña www.naicostarica.com rumana@naicostarica.com +506-8878-9988 (mobile) +506-2228-7760 (0ffice) +506-2228-7753 (fax)