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condos and villas

Condo Investors

I read an interesting article in the November issue of a local business magazine, about the latest wave of foreign investments in the condominium projects. Apparently Venezuelan entrepreneurs are pumping money into the development of condos in Aruba.

Building condominium projects and malls is booming in Venezuela. Take as an example the Sambil Mall franchise. This company started by building the biggest mall under one roof in Latin America, in the capital, Caracas, a few years ago. Now-a-days Sambil has almost ten malls in the whole country and more malls are in the pipeline throughout the region. If you are curious, visit their site at: sambilmall.com. The page is in Spanish, but you can view the pictures of the projects they are working on.

The problem in Venezuela however, is the instability towards investors. Rules change frequently and not always in favor of the investor. The biggest hurdle for investors in Venezuela is converting the profits into dollars and getting it out of the country.

Aruba has an open economy which offers stability and opportunity for major investments. This is very attractive to many investors, including Venezuelans. Therefore, Venezuelans rank among the biggest investors in condominium projects in Aruba. Oceania Condo, The Cliff Aruba and Acqua Condominiums are examples of projects with Venezuelan investors.

I visited many sites in Venezuela with condos and malls and from what I’ve seen, expect these projects to be top notch.

The Cliff & Oceania Condo

Both Oceania Condo and The Cliff Aruba have the same people behind it: Pering Real Estate Developers, AIB Bank and 1st Option Real Estate

By Gabriel

Informing travelers about Aruba since 2007, trying to provide value to Aruba travelers.

8 replies on “Condo Investors”

Hello Anthony, thank you for your comment. I’ve received your e-mail as well and I’m going to review and research the properties you mention.

The links you provide in above comment are interesting as well. I’m going to study them and in due time I will probably write a post or two on some of them.

Regarding the planned developments of Baby Beach area in St. Nicolas (Aruba’s industrial town), I’m not sure this is going to happen just yet. Several parties have shown interest in commercially developing the area. However, it will be very expensive to prepare this area for the tourism economy. Lack of infrastructure and the presence of the oil refinery is a major hurdle.

Awesome website you have here but I was wondering if you knew of any forums
that cover the same topics talked about here? I’d really love to be a part of group where I can get suggestions from other experienced people that share the same interest. If you have any recommendations, please let me know. Appreciate it!

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