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The resort will allow foreigners to own beachfront property on the socialist island for the first time.
“This will be a very top-end development, with a boutique hotel of 100 rooms and some 1,000 residences for sale, from villas to condominiums,” said Desmond Taljaard, London & Regional managing director.
“If you are an investor focused on quarterly results and internal rates of return with immediate exits, Cuba might not be for you,” Mr Livingstone said. “But we are enthusiastic about Cuba, and committed. We are long-term investors. We build long-term relationships and we have patient capital.” The Financial Times