The city of Mindelo, located on the island of São Vicente, is the second biggest city of Cape Verde. As 'the cultural capital', Mindelo is becoming more and more popular with tourists, but also with investors. The city can be described as relaxed, but exiting at the same time, especially around the most important events of the city.
Exiting times are on the rise now when it comes to real estate development as well. A few large projects have been started recently, and the start of a few other projects are being awaited.
Mindelo has seen big growth in recent years, and it's clear to see the city is expanding. Prices within the real estate market have been rising, but it is still a very interesting market with good opportunities.
The biggest change in the coming years will be on the Avenida Marginal, where 4 (!) big projects are likely to be concluded until 2022, all within a distance of 1 km of eachother. Investments are also focusing on projects outside of Mindelo, where beautiful traditional fisherman villages are located with amazing beaches.
These are the projects that are very likely to make real estate prices in Mindelo and São Vicente in general surge to new highs:
Hotel Pont d'Agua
One of the projects that will completely change the way Avenida Marginal will look in the near future. Pont d'Agua was a beautiful hotspot in Mindelo when first introduced to the public. The space had bars, restaurants and shops. The well designed swimming pool and lounge area with view over the bay and Monte Cara atracted many people looking for relaxation and some class.
In the last couple of years a lack of investement changed the look of Pont d'Agua, and it lost it's glamour. This has been completely restored now, with the opening of the Pont d'Agua Hotel a few months back. The hotspot can now be considered one of Mindelo's finest places again.
Spencer Hotel Maria de Carmo
Spencer, one of the biggest construction companies of the country is building a hotel right along Avenida Marginal. The project seems to be concluided by the end of 2020. There's been a lot of controversy around the project, for two main reasons. The project is partially build on the spot where previously the old consulate of England was located, a building that many say has a large historical value due to the connection between the British people and the city of Mindelo.
Another reason is that the new project will block the view of the Casa Branca hotel, a beautiful small eco friendly hotel located right behind it. Meanwhile, the development of the project continues rapidly, and could be finished in just a few months time.
Ouril Hotel
This project is being constructed just few hundred meters from the Spencer hotel building site. In its first phase construction was focused on digging away the rocks that were previously part of this area of the Avenida Marginal. Just like with the Spencer hotel project, there have been complaints here as well.
In this case from the owners of different accommodations on the hill side behind it. Claiming the project, with its 5 stories, will completely block the view once it's finished. At the moment, the project has concluded the first phase, and is now building the foundation.
It will be exiting to see how the two projects will change this part of the Avenida de Marginal. One thing is for sure, guests will have an incredible view of one of the world's most beautiful bays right from their rooms.
Golden Tulip Mindelo
The Golden Tulip will start building their hotel in Mindelo soon, right next to the CopaCabana Laginha complex. In December 2019 BatiBuild, the developer of the project, held a ceremony for the first stone and official introduction of the project to the public.
The hotel will probably finish toward the end of 2021, although right now construction has yet to start. Next to the hotel, the project will also focus on creating new spaces for business travel with conference rooms and coworking spaces.
Four Points by Sheraton
The biggest project of all ready to be built in Mindelo. The Four Points complex will be built on the large land what was previously known as FIC, right across the street from Laginha Beach. This enourmous project has not started yet, but is scheduled to begin before the end of 2020.
The Four Points project will have 128 rooms and also include bars, restaurants, swimming pools and a beach bar. Construction should be finished by 2022.
Harbour Project
A lot has been said about the innovative plans for a new harbour in Mindelo. The impressive project has been (partially) financed, but it's not clear at the time of writing when development will start taking place. Among a new and improved harbour, there are plans for a few apartment buildings which will have one of the most stunning views in Mindelo, overlooking the entire bay.
This project, and especially the apartment buildings would completely revolutionize the real estate landscape in the entire country.
Outside of Mindelo the most interesting project definitely is the investment by the Melia Group, with the Salamansa Bay Stage 1. Here, just 20 minutes outside of the city, Melia is preparing to build a five star Hotel. The project will include 314 rooms, 4 restaurants, spa, conference room, game room and also an auditorium.
One of the new developement projects outside the city. Melia Salamansa is located about 20 min. outside of Mindelo, and a few minutes from Baia das Gatas (by car).
The village of Salamansa will be receiving its first big project in 2019, when Melia is scheduled to open a beach resort.
Calhau will also see a new and interesting project soon. The Martini Calhau resort, with T1 and T2 apartments for sale, is well underway and will probably be ready by the end of 2020.
Hi, I'm Freddy the creator of the MindeloCaboVerde.com blog. Thank you so much for reading. If you're looking for real estate in Cape Verde, or additional information, I'm happy to help out. Feel free to message me riright way!