News on Guacalito, Nicaragua, Real Estate
Just when everyone seemed to think that the Pellas Group was going to land-bank the property at Guacalito until sometime around 2011, it was announced in La Prensa, one of Nicaragua’s major Spanish languange newspapers, that they are going forward with a $350m development.
I suspected something might be afoot as I was recently there and saw a jet-ranger helicopter departing. I chatted a bit with security personell who were on-site at the time in an effort to learn who the visitors were. The guard had never seen any of them before with the exception of the person who was appointed to manage the land for the time being.
Needless to say, there was a reason a very expensive helicopter arrived with 6 passengers. I think we now know the reason. There are a few lots for sale there at the time which I think are a bargain at the moment.
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