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SCI Acquires The Buccaneer Resort

23/01/2004

San Cristobal International (SCI) has recently entered into a contract to acquire the famous Buccaneer Resort on Isla Carenero in the Bocas del Toro Archipelago. Plans call for refurbishing, expanding and repositioning the resort as one of Panama's first private-membership communities.

January 23 2004--San Cristobal International (SCI) has recently entered into a contract to acquire the famous Buccaneer Resort on Isla Carenero in the Bocas del Toro Archipelago. Plans call for refurbishing, expanding and repositioning the resort as one of Panama's first private-membership communities.

When completed in 2004, the Buccaneer will feature 25 Cabanas offered to private members for US$9,999, with 50% down with 50% financing available, for 10 days use per year for 15 years. Members have access to 1100 meters of Caribbean beach, luxury, 2-bedroom, beachfront Cabanas with all amenities, a clubhouse, business center, over-the-water restaurant and bar, and a complete range of recreational activities.

Recently the Caribbean side of Panama has gotten international attention and the reason is tourism. In terms of tourism, Panama has four hundred years of Spanish history, one hundred years of international influence and 14 years of Democracy, a diversity that appeals to world travelers. It also has more varied destinations to travel to than most of the top tourist destinations in the world. In fact, Panama has "found its place" on the Caribbean tourist map in the past seven years in locations such as the Bocas del Toro Archipelago, making the Buccaneer a very well-positioned resort property.

But that's not all. Panama has modern air transportation and new, progressive highways and tollways that are going to provide complete access to its Caribbean paradise over the next few years. Panama has the most modern and extensive banking center in Latin America, has earned the title of the fiber-optic hub of the Americas, has exquisite dining and five-star hotels, and has the U.S. dollar as its main currency. With all this, Panama should gain the recognition in five years that it took Costa Rica twelve years to achieve (and has since lost).

The combination of Panama's strong points has been transformed into a solid investment opportunity by SCI through its private Investment Promotion Agency based in Panama. SCI's Founder and President Tom McMurrain launched San Cristobal Land Development (SCLD) in July 2002 (acquired by SCI in July 2003), which in the past 18 months has brought over US$5 million of FDI to Panama.

The seven-figure influx is based on a product unique only to Panama. When McMurrain came to the country in 2000, he saw the Panama advantages in terms of Caribbean beach- and waterfront land prices and potential development, and then coined the phrase “Emerging Growth Real Estate” (EGRE) to describe the phenomenon.

In addition to McMurrain, numerous big-name organizations are bringing positive reports regarding Panama to the international investor marketplace. The Economist Intelligence Unit recently found Panama to be a low-risk location for investors, especially when compared with other Latin American countries. Panama is one of the top three countries in the Western Hemisphere for best-risk investments according to Political Risk Services. Panama is listed by Canada's Fraser Institute as number eight on its list of the world's freest economies. Panama ranks as number one in the Latin American region for low cost of living according to the Tripartite Committee. Panama has been ranked as one of the world's best retirement destinations by Modern Maturity (the official publication of the American Association for Retired Persons, AARP). Panama has also been constantly recognized as one of the safest places to travel in the world by the Pinkerton Intelligence Agency.

McMurrain states, “Panama has the potential to become a world-class tourist destination and a dominant business center for companies looking to cash in on its Caribbean "Gold Coast" boom. The Buccaneer project will be one of the first major resort developments to lead the way in the Bocas region. We are happy to be a part of both.”

Those interested in receiving a term sheet and projections of the resort based on three levels of membership sales can contact buccaneer@sancristobalsa.net, 1-866-811-5324 (U.S.) or +507-322-0913 (Panama).

About San Cristobal International
www.sancristobalsa.net

San Cristobal International is a private company that promotes investment in Panama and has developed and managed properties worth approximately US$5,000,000 in the past 18 months. We specialize in acquiring and developing beachfront and oceanfront properties on the Caribbean (Atlantic) coast of Panama. We also provide fixed-return opportunities for investors and use investor funds to acquire real estate on an non-leveraged basis.

SCI's San Cristobal Land Development (SCLD) is a leading developer of Emerging Growth Real Estate in the Caribbean. Through SCLD, investors have access to a portfolio of international properties that have been hand-selected by a real estate and marketing team that has a proven track record of identifying emerging-growth destinations, properties and opportunities.

SCLD offers carefully executed programs that bring value to its investors. Investors benefit from a solid return on their money while it works, and SCLD offers tremendous upside potential that our customers benefit from before we do. This “customer-first” mentality has provided SCLD with a global network of real-estate purchasers seeking our opportunities.
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CONTACT INFORMATION
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SAN CRISTOBAL INTERNATIONAL
http://www.sancristobalsa.net/
+5073220913

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