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1 million sqm, beachfront, 20 min from Salvador airport (80% green area)
A large part of this picture is actually a lake - filled up with a unique vegetation
80% of this land is a protected green zone, because of its unique lakes, close to the sea, which harbour a very rich and rare vegetation; and the remaining land is zoned as a zone for special tourism development with only 10% of floor occupancy. This means the land can not be sold as individual small lots; but it is suitable for a residential tourism resort featuring hotels and/or condominiums.
As a result, it is less attractive to Brazilian residential developers, who generally build very dense condominiums with homes of 300-400m² built on lots of 450m²; which is why it is probably underpriced. In fact,
However; it still features 200000 m² of usable land on which 40000 m² of construction is allowed (10% x 2 levels). Land in similar residential project retails for $50 to $100 per m².
For the international investor, the amount of green area is in fact a selling point, and it is quite conceivable to generate even higher prices. One is allowed to clear about 30% of the lakes, creating great views and a private lake for canoeing or other (non-motorized) boats. As such, this could be turned in a resort like Costa de Sauipe - but one that is 25 km from the airport instead of 65!
Given its environmental restrictions, this is not an easy project; but for an experienced developer it is an unusual opportunity.
More details are available for qualified investors and developers.
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