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New Plan: Full Service Luxury Marina near Port City of Paita, Peru

  • Published by Vedat
South American Properties, Inc. plans to acquire and develop real estate properties, and other income generating assets located in South America with a more specific focus on the country of Peru.
South American Properties plans to build a full service luxury marina called Colan Marina near the port of Paita in northern Peru. Colan Marina will be a planned full service marina and lake with 150 slips, dry dock facilities, maintenance and fuel service and full 24-hour security. The marina will be a man-made construction to be created by excavation of a salt flat bordering the emerald bay beach on the west and 100-foot cliffs on the east. A canal 24-meters wide and 200-meters long will connect the marina from the Pacific Ocean.

Land has been purchased surrounding the lake portion as well as on top of the cliffs overlooking the marina location. Plans call for a small draw bridge that will allow traffic along the beach when boats are not entering. A rock jetty will be constructed to calm any waves allowing a smooth entry into the canal and marina. The marina will be land locked and secure from weather and with 24-hour security. It will be connected to electric and water services. Future plans also include a marina club, bar and small hotel, as well as apartments and condos for sale and rent.

Peru has limited docking, slips and marinas along its 1500-mile coast and beaches. The Colan Marina will be located 10 kilometers from Paita, Peru, a port city. Last year, Terminales Potruarios Euroandinos Paita (Port of Paita) issued US$110 million of senior secured notes and plans to use the note proceeds to dredge the port, build a mooring point, buy cranes, purchase other handling equipment, and partially fund reserves.

In a report from Fitch Ratings in May last year and article titled "Peru's Paita port has regional advantages," it stated that "activities at the port are likely to benefit from ongoing infrastructure developments in the region."

Colan is the gateway to the beaches of the north of Mancora, Punta Sal and Tumbes where there are excellent surfing, swimming and fishing, and is a day-and-one-half sail to Ecuador. It is also the gateway to the famous Galapagos Islands a two-to-three-day sail from Colan. Piura is the closest main city of northern Peru and is 30 miles away with commercial airport facilities and immigration officials to receive international flights. It is a one-hour-and-twenty-minute flight from Lima, Peru.
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