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Pay in USD and save up to $487,003The property boasts a large seafront and moving inland, it also has road access. It is an ideal investment opportunity for a tourist development (Beach Hotel or Hotel Apartments)
Size: 73059sq.m
Planning Zone: T2α - 45% for hotel development
Zoning T2a (Tourist Zone) with direct access to a road.
Option 1 - Hotel Development
Maximum allowable Density 45% x 120% = 54%
Maximum allowable Coverage 20%
No. of floors 3 — maximum height of building 13,10 m
Option 2 — "Tourist Village" Development
Maximum allowable Density 40% x 120% 48%
Maximum allowable Coverage 20%
No. of floors 2 — maximum height of building 8,30 m
Option 3 - Residential Development Maximum allowable Density 20%
Maximum allowable Coverage 20%
No. of floors 2 — maximum height of building 8,30 m
The Hotel or Tourist Village Development (options 1 & 2 above) are considered the most desirable and cost effective because of the additional 20% density concession that has recently been announced by the government.
From the above it can be ascertained that there is potential for building a 4 or 5 star Hotel on site with over 700 rooms and all amenities.
There is also potential for building a Tourist Village on site with over 550 units and all amenities.
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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