Interview with David Dumble, International Sales Director of The Resort Group Plc.

12/02/2019

Make your money work harder by buying a property that generates a guaranteed rental income and capital growth in a stable destination with high growth potential. 

David Dumble is the International Sales Director for The Resort Group Plc (TRG), a world-class luxury resort hospitality company specialising in creating five-star holiday resorts and hotels in Cape Verde. During his recent visit to the Algarve, Belalgarve Consultants (BA) had the great opportunity to discuss TRG's developments in Cape Verde as well as their unrivalled reputation for offering safe, secure and proven property investment opportunities.

BA: What kind of products does The Resort Group Plc offer?

DD: TRG is a world-class property developer and market leader of 5-star Resort developments in Cape Verde, one of the world's fastest-growing tourism markets, with the largest Resort and Hotel pipeline. We sell the units of our developments to private and corporate investors which of course helps us with financing future developments, but also offers fantastic opportunities to our investors.

BA: What potential do you see when looking at Cape Verde related investments from Portugal? 

DD: Our portfolio of existing clients is very broad and so is the term 'investor'. Portugal and Cape Verde are historically connected due to many obvious reasons, such as having the same language for example. More recently, Cape Verde has also become a very popular holiday destination for the Portuguese and foreign residents in Portugal. While the UK and Germany still take the lead in terms of tourist arrivals in Cape Verde, Portugal follows closely behind. This means that some of our Portuguese 'investors' are families, who invested in a second home where they can spend their holidays, others bought one of our units to benefit from the very high and guaranteed annual return on their investment. And then there is also the possibility the combine both worlds by using our resorts for holidays and generating income during the rest of the year.

BA: A hotel room as a second home? 

DD: Our developments consist of hotel suites, apartments with 1 or more bedrooms and even private villas. 

BA: Cape Verde is Africa. How safe is it to invest in Cape Verde? 

DD: Cape Verde is a group of islands set off the African West Coast. It has a parliamentary democracy and their legal system is comparable to the Portuguese legal system. So is the sales process for a property: there are no limitations for foreign property ownership and all our properties are sold on a freehold basis. They are individually registered under separate legal titles and that means that you entirely own your property.
Therefore, you decide how your property is managed, and how it works for you as an investment. Whether you decide to retain the property for private family use, rent the property independently via a letting agent or sign up to our Hotel Managed Rental Program, the choice is entirely yours.

The climate is comparable to the Caribbean with the exception that Cape Verde has no rainy or hurricane season, making it an all year round and safe holiday destination.

BA: We are in the Algarve, a resort area itself. Many people buy properties here and let it on the holiday rental market, with annual returns up to 5, sometimes even 6%. How do TRG's properties compare to that? 

DD: We are not telling people where to invest or where not to invest. This is a very personal choice and depends on everybody's personal preferences and realities. The fact is that Cape Verde is a popular holiday destination for the Portuguese, and therefore naturally more and more people from Portugal are interested in buying Real Estate in Cape Verde.

Our investors will receive 5% in the first year, 6% in the second year and 7% in the third. Thereafter, they can join our Hotel Management Scheme and receive a regular income from the overseas buy-to-let investment with the promising prospect of capital growth from the thriving tourism market. These returns are fixed and guaranteed. At the same time we are flexible and we always do our utmost to adapt our offer to the investor's needs. Also important to know is that we offer our clients a structured exit strategy and are committed to resell their property after 5 years, if the client wants to.

BA: How many developments does The Resort Group Plc currently have in Cape Verde? 

DD: We currently have 3 operational resorts on the Island of Sal: the Dunas Beach Resort & Spa, the Tortuga Beach Resort and the Llana Beach Hotel. On the Island of Boavista, we have the White Sands Hotel & Spa, the latest development and the first of six new developments in our pipeline on this island. Construction is due to be completed by mid-2020, but the sale of its units is already open. 

BA: TRG is selling the units of the White Sands Hotel & Spa off plan. With all the unfinished resort developments around the Mediterranean during the 2008 crisis , how safe is it really to buy off plan?

DD: The risk factor of buying off plan mainly depends on the developer you are buying from. TRG has a strong and sustainable business model with consistent growth demonstrated during the last 3 years. The Group benefits from multiple revenue streams and growing Hospitality revenue as more of our Projects are completed. We also benefit from the commercial income and supply chain efficiencies delivered by our vertically integrated businesses. Our current developments are already financed and income is used for future developments, taking away any risk for our current developments investors.

But until opening of this resort, investors can always opt to buy one of our available properties in our turnkey resorts on the island of Sal. The choice of type of purchase is entirely up to our clients.

BA: Let's say I'm interested in buying a TRG property. What next? 

DD: Talk to us or your preferred agent! We are here to help, without any commitment. Buying an overseas property with us is not complicated and we ensure you are supported on every step of the journey. Meet with one of our property experts, who will help you select the right investment for your portfolio. The process is simple, you can choose from one of the three rental options available to you and watch as the returns from your long-term investment begin.

BA: Can I visit the developments before taking any decision?

DD: Of course and we even encourage this as part of the due diligence procedure. We can arrange an Inspection Tour to offer you the opportunity to do your Due Diligence up close in the unique sunshine of Cape Verde. A contribution will be taken for the trip before you commit to investing but if you decide to proceed with your property purchase, all fees paid will be deducted from your first deposit payment. 

BA: What are the starting prices of TRG's products? 

DD: We aim at serving everybody with our products. While our property prices start at about 200.000 €, there is also the possibility to buy a part of a property. So even if you want to invest 20.000 € or 50.000 €, we can design a suitable product for you. The best part is that also on these partial ownerships, you will earn your return according to what you have invested. This means that you can make your money work harder by buying a property that generates a guaranteed rental income and capital growth in a stable destination with high growth potential.

The Resort Group PLC, incorporated in 2007 by CEO Rob Jarrett, is a multi-national corporation specializing in the design, development and operation of luxury hotels and resorts, with a focus on the emerging tourism hotspot of Cape Verde. Based in Gibraltar, and with support offices in the UK and Cape Verde, The Resort Group PLC has quickly established itself as one of the most respected and ground-breaking property development brands in the overseas market.

Belalgarve Consultants have access to more than 5000 investment opportunities in Portugal and Cape Verde and can be your ideal partner if you are looking to invest in any of these markets. Contact us without any commitment if you require further information about investing in The Resort Group's luxury developments in Cape Verde as well as for more information on current promotions we can offer on their products.

More information: ralf@belalgarve.com