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LEGACI ES

Car l osRaúl Vi l l anueva T heP oe t of Ar c hi t e c t ur e “ P oe t r yi si nt hehe ar t sof me n ”

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PRESIDENT Julio González Salgado VICE PRESIDENT Fernando Weber Fournais EDITORIAL BOARD Julio González Salgado Fernando Weber Fournais Jesús Bejarano Álvarez SALES Catalina Hoyos Freitag Guillermo García Rojas Johanna Mora Correa Juan Manuel Pérez Camacho Maykel Vargas González Olga Das Neves Jardín SALES CONTACT equity@equitymedia.la LEGAL ADVISERS Colmenares – Peraza, Abogados CONTRIBUTORS Anderson Vaca Cerda

María Joaquina Rodríguez Miguel Colina Orozco

Olga Das Neves Jardín DESIGN & DIAGRAMATION Quenvy Malavé Asuaje Ana Paula Cámara Weber Andreina González López DISTRIBUTION Equity Media Group PRINTED IN Albacrome S.A., (507) 300.79.00. Panama City. The content of the articles is the responsibility of the authors. Reproduction quoting source is permitted. All published articles are submitted to arbitration. Collaborations are accepted according to the policies of the journal. Contact: equity@equitymedia.la Send contributions to: equity@equitymedia.la All Rights Reserved LEGAL NOTICE (1) EQ Magazine is an international publication. Advertising, promotions or offers that appearing on it, are only considered valid, in the countries in which the respective projects or buildings, are located, and / or where the promotion and sale, thereof is permitted. Consequently, in countries where such activities, or the form how to make them, are prohibited, they should be considerate as nonexistent. (2) Our advertisers manifest that comply with all legal requirements of their respective countries, for the construction, development and / or sale of real estate. (3) Our Call Center (Equity Contact Center) is a free service, and we are only receiving calls and data, of our readers interested in any product, to transfer them to the respective advertiser. Except for the payment for using our advertising space, EQ Magazine don´t have participation in the benefits by the promotion and / or sale of the products published. (4) EQ Magazine, its related companies or brands, do not have, or assume, liability in relation to publication of our advertisers: builders, developers, realtors, banks and other advertisers, because each is solely responsible for their offers or advertisements; agreeing not affect the rights of third parties; and just use his activity for legal purposes. AVISO LEGAL (1) Revista EQ es una publicación internacional. La publicidad, promociones u ofertas que aparecen en ella, solo se consideran válidas en los países en donde se encuentran los respectivos proyectos o construcciones y / o en donde esté permitida la promoción y / o venta de los mismos. Consecuentemente, se deben considerar como no hechas e inexistentes, en los países en donde tales actividades, o la manera de hacerlas, estén prohibidas. (2) Nuestros anunciantes manifiestan cumplir con todos los requisitos legales exigidos en sus respectivos países para la construcción, promoción y/o venta de inmuebles. (3) Nuestro Call Center (Equity Contact Center) es un servicio gratuito, y solo se reciben las llamadas y los datos de nuestros lectores interesados en algún producto, para transferirlos al respectivo anunciante. Exceptuando el pago por el uso de nuestros espacios publicitarios, Revista EQ no tiene ninguna participación en los beneficios por la promoción y / o venta de los productos publicados. (4) Revista EQ, sus empresas o marcas relacionadas, no tienen, ni asumen, ninguna responsabilidad, en relación a las publicaciones de nuestros anunciantes: constructores, desarrolladores, promotores, realtors, bancos u otros anunciantes; pues cada uno de ellos es responsable exclusivo de sus ofertas o anuncios publicitarios; comprometiéndose a no afectar derechos de terceros; y a solo usar su actividad con fines lícitos.

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From the far reaches of Tijuana to the Land of Fire; or even from Miami to the closest point of the South Pole…For us, distance is not relevant. For us, the most important aspect is the synergy generated by millions of humans beings united by a commonality in language, most of them Spanish-speaking, and in culture, along with the beautiful, vast territories and natural resources found in their home lands. Nowadays, the region is consolidated as a source of economic growth and a magnet for migrants and tourists from around the world. Latin America is endowed with enormous natural wealth. It possesses 25% of the world’s farm land, a third of the world’s potable water, immeasurable mine reserves and huge oil reserves, the latter mostly located in Mexico and Venezuela. Colombia is one of the most bio-diversified countries in the world possessing 14% of its flora and fauna. The Panama Canal, Cape Horn in Chile and the Strait of Magellan are strategic entries between the Atlantic Ocean and the Pacific Ocean. In Peru, we find Machu Picchu and the Nazca Lines, in Ecuador, the Galapagos Islands, and in Venezuela, we find Angel Falls, the world’s highest uninterrupted waterfall, and the Tepuyes, recognized as the oldest place in the world. All of these treasures make Latin America a fertile ground for progress. In addition to the diverse natural wealth, the region has a potential market of 600 million inhabitants, making this area an exceptional source of opportunities for investors. We believe that tremendous advances not only in such industries as business, finance and capital markets, but also in real estate, are, and will attract a magnitude of great projects and developments. Equity Media Group and Equity Magazine were established in 2014, as a way of tapping into and promoting this immense potential, as well as fulfilling the needs of global investors for information. Equity Magazine is an international publication that specializes in real estate, highlighting current and future projects and developments in multiple countries. Just as vital, it also provides investors with invaluable editorial and market information, developed jointly by our staff, prestigious consulting firms, and renowned market specialists. Equity magazine was designed for the demanding reader who is looking for investment vehicles to increase and protect his/her personal assets, thus being the perfect informative venue for savvy investors. We invite you to use this as your consulting tool, not only in its printed format but also through our real state portal and contact center. Julio González Salgado Editor

CONTENT LEGACIES Carlos Raúl Villanueva The Poet of Architecture

p. 10

COLOMBIA

Colombia, Positive Development

p. 14

COSTA RICA

Costa Rica, Continuous Economic Growth

p. 42

ECUADOR

Guayaquil, From Anarchy To Harmony

p. 52

PANAMA

Escrow Agreement Plica’s Contract p. 68 Panama´s Real Estates Investment Companies Special Income Tax Regime p. 70 Real Estates Market Industrial & Retail Boom

p. 72

FLORIDA

Buying Real Estate with Mortgage Credit

p. 88

Brickell, South of Florida´s Manhattan

p. 92

EB-5 Green Card Program

p. 96

“You must be the change you wish to see in the world” Mahatma Gandhi www.equitymedia.la

ECONOMIC INDICATORS COLOMBIA Population: 48,320,000 Capital City: Bogotá Currency: Colombian Peso (COP) USD Market Exchange Rate: 2,156.73 on November 20th, 2014 Total area: 799,389 sq. mi. Bordered by: Venezuela/Brazil/Peru/ Ecuador and Panama GDP: (**) USD 378,100 million GDP per capita: USD 7,824 Public debt: USD 94,620 million Debt to GDP: 25% Debt per capita: USD 1,958 Inflation: (**) 2% in 2013 HDI-UNDP: 93th of 177 countries

COSTA RICA Population: 4.872.166 Capital City: San José de Costa Rica Currency: Colón Costarricense USD Market Exchange Rate: 542 on November 20th 2014 Total area: 19,653 sq. mi. Bordered by: Nicaragua/Panama GDP: (**) USD 49.621 millions GDP per capita: USD 10.184 Public debt: USD 17.871 millions Debt to GDP: 36% Debt per capita: USD 3.668 Inflation: (**) 5,2% in 2013 HDI-UNDP: 64 of 177 countries

ECUADOR Population: 15.936.100 (INAC) Capital City: Quito Currency: United States Dollar “$” USD Market Exchange Rate: 1 Total area: 109,484 sq. mi. Bordered by: Colombia / Peru GDP: (**) USD 90.020 millions GDP per capita: USD 5.719 Public debt: USD 17.197 millions Debt to GDP: 19% Debt per capita: USD 1.092 Inflation: (**) 2.7% en 2013 HDI-UNDP: 98 of 177 countries

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HDI-UNDP: The Human Development Index by the United Nations Development Programme. (**) According to the World Bank’s data

ESTADOS UNIDOS Population: 316.128.839 Capital City: Washington D.C. Currency: United State Dollar “$” USD Market Exchange Rate: 1 Total area: 3,531,905.43 sq. mi. Bordered by: Canada / Mexico GDP: (**) USD 16.800 billions GDP per capita: USD 53.147 Public debt: USD 17.170 billions Debt to GDP: 104% Debt per capita: USD 55.270 Inflation: (**) 1.5% in 2013 HDI-UNDP: 5 of 177 countries

PANAMA Population: 3.864.170 Capital City: Ciudad de Panamá Currency: Balboa USD Market Exchange Rate: 1 Total area: 29,157 sq. mi. Bordered by: Costa Rica / Colombia GDP: (**) USD 42.648 millions GDP per capita: USD 11.036 Public debt: USD 16.835 millions Debt to GDP: 39% Debt per capita: 4.356 USD Inflation: (**) 4% en 2013 HDI-UNDP: 60 of 177 countries

VENEZUELA Population: 30.206.307 (INE) Capital City: Caracas Currency: Bolívar fuerte USD Market Exchange Rate: 6.3 / 12 / 49.99 Total area: 353,841 sq. mi. Bordered by: Colombia / Brasil GDP: (**) 438.200 millones USD GDP per capita: 14.409 usd Public debt: 98.629 millones USD Debt to GDP: 23% Debt per capita: 3.243 USD Inflation: (**) 40% en 2013 HDI-UNDP: 63 of 177 countries

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Legacies

Carlos Raúl Villanueva

THE POET OF ARCHITECTURE

By: Macky Arenas Alexander Calder called him “The devil” given his courage to “build, install and impose the flying plates in the Aula Magna of the Universidad Central de Venezuela”. For Venezuela he is an architect, for his students he was a Teacher, one of those whose names are written in capital letters, one that takes life as it comes, defying what is established, thus creating new roads for the rest of us. In Venezuela, there are last names that remind you of architecture. Villanueva, on the other hand, is the definition of it. “There are plenty of myths about him. Villanueva was, simply, a master of architecture”. Claim some of those who shared his always cheerful and funny point of view about life. He had an impeccable authority and he became part of a prestigious society in Venezuela. Nonetheless, he was always a close friend not having a bit of vanity despite being a genius. “He had an extraordinary intuition and an ability to communicate with others, something rarely seen” says Felipe Montemayor a renowned Venezuelan architect, one of Villanueva’s favorite students. Absolutely devoted to architecture, going forward calmly as a flagship captain holding fast to the rudder, evolving through time always convinced of one particular belief: architecture means continuity. Villanueva used to joke “It’s not my fault that governments change” safeguarding his architecture from any influence not related to his strict indifference with formality and his “hands-on” method. What would Carlos Raul Villanueva do nowadays with all this technology that allows us not only to project our ideas in a computer but that almost does our thinking for us? Montemayor answers immediately “he wouldn’t like it… or maybe he would”. Villanueva was unpredictable, anything but common. Willing to enjoy every minute of architecture, Villanueva surprised everyone with his capacity to understand rebellion in the lines drawn. One day, a student of his presented a project based on the exact opposite instructions given by him, Villanueva gave him the highest grade. The lesson was clear: you cannot create 10

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Central University of Venezuela UCV Faculty of Engineering.

without breaking standards; creativeness is irreverent, daring, and not always academic. His authority was the history of architecture, written by himself, with his talent as a draftsman of fast and firm lines. “Just using chalk and a big pencil” affirms Montemayor, that’s how Villanueva designed one the most vast and remarkable architectural monuments of modern architecture. Villanueva’s unique idea of architecture was captured in “Reflexiones Personales” a Universidad Central de Venezuela’s document remaining for posterity as a statement of the principles that guided his work. “An architect must recognize the social environment where he develops, that’s the main reason of his existence… he must have a critical eye and must possess historical consciousness of his function”. Villanueva created, in what is established as his early stage by his supporters, important architectonic monuments, most notably; the venerable Hotel Jardín de Maracay (1929), symmetrical and well proportioned, Plaza de Toros (1934) also located in Maracay, and the Museum of Fine Arts and the Museum of Science (1934) both located in Caracas. Not to mention, his collaboration in Venezuela’s pavilion in the 1937 Paris Universal Exposition in association with the architect Luis Malausena. The redevelopment of El Silencio neighborhood in 1941, one of the most bustling and unhealthy areas in Caracas, was a milestone in the next stage of his career. Villanueva imagined and effectively created an admirable Colonial style project that worked very well as a whole; he dignified the area and not even time

Legacies

or apathy have been able to vanish its past glory. He taught not only in class but also through his work that “Society entrusts a role in human redemption to the architect. We must not waste this opportunity or avoid the responsibility and weight of such a task”. From the beginning to the end, Villanueva worked continuously without rest, always committed to achieving his purpose in creating alternate solutions to each problem. In 1944, Villanueva started designing what would be his masterpiece, the Ciudad Universitaria de Caracas (University City of Caracas). Groundbreaking started in 1945; the project was divided into four phases which were completed in 1980 with the Faculty of Economics and Socials Sciences Building. The third phase of this project, which began during the gubernatorial tenure of General Marcos Pérez Jiménez, was the most significant due to the construction of various works of art like the Aula Magna, Biblioteca Central de la UCV, Plaza Cubierta, Corredores Cubiertos and The Hospital Universitario de Caracas. This ensemble known as Ciudad Universitaria was declared a World Heritage Site by UNESCO in 2000 and has always been an essential reference of Villanueva’s work because “it represents Villanueva’s overwhelming victory, expressed in a work full of poetry, value and striking suggestion”. He originally used colors in symmetrical and rigid combinations but later changed these after being influenced by fresh Brazilian colors. He had the courage to do it, always faithful to his dislike of closed systems; and it is expressed in the beautiful Plaza with its eaves wrapped in lights and shadows and the imposing Aula Magna showing off Calder’s flying plates. Villanueva, without being pretentious, said “I am interested in every input, every new tendency and all its new content. All new advances in construction, it doesn’t matter where they come from, they are an encouragement to me”.

“Poetry is in the hearts of men” (Carlos Raúl Villanueva)

This stage in Villanueva’s career is completed with his work in Venezuela’s pavilion in the 1967 Montreal Universal Exposition; three colored cubes built in a synthetic and simple way that perfectly integrated sculptural and pictorial elements. “Where no crack is seen between different expressions, where the slightest indecision can’t be found”. He had the ability and intuition of surrounding himself with exceptional and qualified coworkers. “Architecture is built for humankind and thus must project on a human scale, that’s what Villanueva taught to his students, including myself,” affirms Montemayor “and he had that scale; intuitive and perfect”. And again, faithful to his belief that “architecture is an inner and fluid space; used and enjoyed by mankind...an architect must be a humanist. His vision must be universal, global and therefore local. Indeed, no one would understand the accidental without first discovering the essential”. His personal house, “Caoma” (1952) in Caracas is a perfect example of the essential. One observer described it poetically: “For me, Caoma and Villanueva are the most complete expression of a fraternal embrace between architecture and life”. The soul of that house represents three of Villanueva´s most important spiritual values: “simplicity, humility and naturalness”. It

Carlos Raúl Villanueva Aula Magna.

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Legacies

is said that Caoma reflects Corbusier’s own desire that, according to his confession, he eagerly sought: a man’s house, not an architect’s house”. Carlos Raul Villanueva was born in London on May 30, 1900. He trained under Gabriel Héraud in his Parisian workshop in 1920. Eight years later he graduated from the National School of Fine Arts in Paris and after taking other courses at the Urban Planning Dept. of the University of Paris, he went to Caracas to initiate his career working in the Ministry of Public Works. He married a daughter of Juan Bernardo Arismendi, an urban planner, and one of the most important figures in Caracas urban development. He worked with Juan Bernardo occasionally and they respected and recognized each other’s work.

Central University of Venezuela UCV Faculty of Architecture

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Villanueva, a man of incredible intuition, started following his own path and quickly learned to accept the wisdom and knowledge of a country that knew how to shape architecture. Beyond the drawing boards, he produced architecture for life, insistently seeking new creations

Legacies

because “there is no creation without faith in human values”. That’s what he taught as founding professor of the School of Architecture and Urbanism of Universidad Central de Venezuela. We could easily avoid mentioning the awards and accolades given for his remarkable work, given that Villanueva wasn’t interested in “silks and gold” as Antonio Machado would say. In any case, the list of accolades and awards is so extensive that it would force us to reduce our summary of his work and thoughts and that would have offended him. He always talked about “The architect is an intellectual by function and formation… he could be very unbalanced and sometimes very dramatic due to the instability and contradictions of the circumstances of the society that surrounds him”. He never showed interest in having followers although his work stands as a reminder of the sensibility of a man who had clear ideas and lived and acted faithful to his principles, one of those who praised other’s work without questioning it.

His profound thoughts reflect his rich inner life, which inspired all of his work. It is maybe the least known side of his position as a true standard bearer of architecture, but in order to genuinely understand and enjoy his work we need to know his opinion: “I reject the doctrinarian dogmatism, always anxious to create borders, separate essences and firmly discriminate. I believe in an architecture that begins in reality, generates a critical interpretation and then returns to it, changing it with permanent dialects. Therefore, architecture is similar to an instrument of human perfection, as a cathartic element”. “If I have to choose between art and life, I’ll choose life”, that’s what he wrote in his notebook. He died in Caracas on August 23, 1975. And today, we can paraphrase what Juan Pedro Posani said in 1967: Carlos Raul Villanueva, 39 years after his death, could be proud of still being avant-garde.

Central University of Venezuela UCV Alexander Calder’s Acoustic Clouds in the Aula Magna.

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Colombia

COLOMBIA By: María Joaquina Rodríguez The Republic of Colombia is located in the northwest of South America. It has a total area of 2,070,408 km2 (799,389 sq mi) which 1,141,748 km2 (440,831 sq mi) is land and the 928,660 km2 (358,558 sq mi) remaining belongs to its territorial waters. Bordered to the northwest by Panama; to the east by Venezuela and Brazil; to the south by Ecuador and Peru. It is a unitary presidential constitutional republic, comprising 32 apartments and one Capital District, its capital city is Bogotá in the department of Cundinamarca. Currency and USD equivalent The peso is the currency of Colombia, formally known as (COP) and informally known as (COL$). However, its official symbol is “$”. The circulation and issuance of the peso is controlled by the state-run central bank, the Bank of the Republic. The Colombian Peso Market Exchange Rate is the amount of Colombian pesos per US Dollar. Nowadays, the Financial Superintendence of Colombia is the institution that daily calculates and certifies the Colombian Peso Market Exchange Rate based on the transactions recorded on the previous workday. Population Colombia is the third most populated country in Latin America, after Mexico and Brazil, with a population of 48,321,405 registered till 2013. Its capital, Bogotá is the most populated city of the country, additionally is the most important city in a political and economic level and along with 7,363,782 habitants, represents more than 15% of its total population. Most important cities Colombia’s population is concentrated in the area of the Andes as well as the northern coastline. The main region of high development belongs to the Andean region, in the

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cities of Bogotá, Medellín and Cali; also known as “The Golden Triangle”. Bogotá, it’s the most populated city and main economic center of the country. According to data from the Bogotá Chamber of Commerce (BCC), the city has more than 330,000 established companies in Bogotá and Cundinamarca; and it represents the biggest labor market of the country. From a cultural point of view, Bogotá has a great importance due to its large list of famous libraries and museums, worth to mention the Gold Museum that has around 35,000 pieces of gold, it´s one of a kind. In addiction it is known for celebrating the Ibero-American Theater Festival and Bogota’s International Book Fair; furthermore, it has 11 univertisities ranked among the top 200 universities in the world. Medellín. (Population: 2,441,123). It is an important industrial, financial and commercial hub of the country, which stands out for its high quality of life; moreover, Medellin has an innovating urban planning and an excellent public transportation. Cali. (Population: 2,319,684). It is one the oldest cities in America and the most important city in the west of Colombia. It is the major industrial and commercial hub of the country. Colombian Caribbean Coast. This region has important industrial and touristic ports, in cities as: Barranquilla (population: 1,206,946), chosen im 2013 as the American Capital of Culture; it is the most important maritime and fluvial hub of Colombia, also recognized for hosting plenty folklore and cultural festivities as the Carnival of Barranquilla, declared in 2003 by the UNESCO as one of the masterpieces of the World´s Oral and Intangible Heritage. On the other hand, Cartagena (population: 955,250) located near the Caribbean Sea, it has become

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Colombia

the leading industrial city of the Caribbean Coast. Cartagena has developed urban areas preserving its historic downtown becoming one of the most important ports of Colombia, the Caribbean and the world, as well as a famous touristic destination. Its historic downtown “The Walled City” was declared World Heritage by the UNESCO in 1984. Bucaramanga and Cucuta are very close, located in the northeast, these cities are important commercial and industrial centers of the country. The Colombian coffee growing axis, also known as the Coffee Triangle, represents Manizales, Pereira and Armenia which stands out for their high quality of life and great development. Then, it is Villavicencio in the east, locatedb on a plain rural zone with tropical climate called Los Llanos also known as “the Gateway to the Plains”. Finally, Neiva and Pasto, located in the south of Colombia represent a valuable connection with the southern part of the country and the Republic of Ecuador. Economic stability Colombia is the world’s 28th biggest economy and according to the Economist Intelligence Unit 2013 (EIU) it will be one of the economies that will contribute the most to the global economic growth in the next years. Colombia has had a continuos economic growth for over the past 10 years driven by the high rates of foreign investment. According to official data from the National Administrative Apartments of Statistics (DANE), in the first quarter of 2014 Colombia´s economy grew 6,4% in relation to the same quarter of 2013, emphasizing specially on the 17.2% construction development. In the last year, its Gross Domestic Product (GDP) was 4.3%, well above the average for Latin American and the Caribbean. Colombia is the country with the major protection to investors of the region above Peru, Mexico, Brazil, Panama, Argentina and Venezuela, being 6th

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out of 189 countries worldwide, according to the report Doing Business 2014 by the World Bank Group. Over the last 24 years, Colombia’s inflation has declining from a 32.4% to a 1,94% in 2013, the lowest inflation in half century. An attractive destination for real estate investment Due to the economic stability offered by Colombia, real estate investment has become more than attractive in this South American nation. The Colombian real estate market has experienced in the last seven years a constant increase in house prices, despite global financial and economic crisis. This proves that real estate investment can be profitable in the medium term. In Colombia and all its different cities, real estate can be easily acquired at attractive prices; obtaining from renting this acquistions a yearly profit that goes around the 8% from the acquired value. Additionally, foreign investor can benefit greatly from the exchange rate as real estate transactions are made in Colombian pesos. How to buy real estate in Colombia One of the changes that have occurred in legislation is related to the purchase of properties by foreigners. Nowadays, there are no restrictions for foreigners to buy real estate in Colombia, there is no need to be resident or have foreign ID to do it. The only requirements need for a foreigner to buy real estate are: the passport, a proof of income and a proof of the legal source of the funds. Every foreign investment must be “monetizada” which means; USD or any other currency must be changed to COP$ and be registered to the Bank of the Republic; this process is usually done by the Construction Company or real estate agent through the Fiduciary institution. Within all buying options, pre sales are a great way to invest in real estate owing it is possible to fractionate the initial (commonly a 30%) into 18, 22 or 24 moths and pay the remaining through mortgage credit. In the case of foreigners there are some financial institutions that can provide a credit up to a 60% of the value, but the average is a 50%.

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Colombia

Colombia,

Positive Development

By:

Fernando Weber / Olga Das Neves International Equity Group

Colombia is a country that for over 40 years was subdued by the scourge of the guerrilla and the drug trafficking, however, today it is one of the “CIVETS” economies, called like this not only for its numberous population, economic stability and promising future, but also owing for its sustained economic growth with low inflation. Colombia, among the most attractive countries of Latin America to invest Certainly, Colombia has experienced an exponential growth between 3% and 4% per year over the last 10 years and it is expected to increase a 4.2% in 2014, and a 4.5% in 2015. On the other hand, the GDP is projected to reach a higher increment in relation to other countries of America with stable economies as: United States, Brazil and Mexico. Additionally, Colombia’s foreign capital has been multiplied five times going from USD 2,000 million in 2002 to USD 10,000 million in 2010. One of the major factors that have contributed to this economic development, it is oil production, consumer

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demand increment and the direct foreign investment. This last aspect is noteworthy due to the fact that in 2011 Colombia obtained a distinction by Doing Business, which placed it as the first country of the region and fifth of the world in offering protection to investors. Some of the factors that have positioned Colombia among the most attractive countries in Latin America to invest are qualitative economic aspects as protecting investors, ease to make business, reduction of income tax, possession of a legal framework that guarantees the fulfillment of contracts and the ease to obtaining governmental process. Commercial and Industrial Real Estate Market Historically, commercial sector have been one of the most important sectors of Colombia’s economy, it has been growing above GDP average; as a result of rise foreign investment and the development of Colombian middle class. Today, it is the third most important activity within economy and its contribution to GDP is about a 12%. The increment of opening malls in major and intermediate cities along with the entry of important international

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Colombia

chains, has been decisive in the growth of the sector. The regions where these intermediate cities are located have been the most beneficiated by this growth; having a bigger diversity in the product offer but also an increase in the employment generation and tax collection. It is worth to mention there is a tendency to fully owned Malls, it is estimated that 56% of these are owned by a single owner, while the remaining 44% are co-owners, this is due to the fact that national and international brands prefer a lease contract wich permits them to move from their locations in response to any tendency or change in the market. Driven Colombia´s ease and openness to foreign trade, the demand of industrial real estate market has focused majorly in implementing appropriate facilities for logistic activities. Cities as Bogotá and Medellín have begun a change process of their industrial facilities to more consolidated and comfortable facilities that contribute to better and more efficient logisitc processes. Additionally, more and more companies are implementing smaller and local logistic networks, leaving the large distribution centers in outlying areas. On the other hand, port cities as Cartagena, Barranquilla and Cali are experimenting a strong growth driven by the Free Trade Agreement (FTA) that offers to reach a market of more than 1,500 million consumers. Bogotá and Medellín are the cities that have experienced a major development turning them in an office market and locations of great interest to the settlement of headquarters by many multinational companies. Medellín’s quality life, urban planning and many other positives qualities in public services, have turned Medellin into an attractive option for some regional companies. Hotel Market It’s well known that the major hotel market is focused in cities as: Bogotá, a fast growing city and the country´s capital city; the cosmopolitan Medellín, recently named by the international Indra Company as one the best cities for living; and the famous and touristic Cartagena. However, medium-sized cities have been growing, majorly influenced by the development in commercial and industrial sector and jointly with attractive tax exemption. There is no doubt that over the last 10 years, Colombia has achieved an economic and social growth, wished for years. The development and implementation of correct economic politics directed to expand international trade, attract foreign investment and increase consumer spending, combined with its advances in security and infrastructure; are some of the success factors that have placed Colombia at the top of the most attractive countries in Latin America to invest. (*) CIVEST1 is an acronym that refers to the emerging markets of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.

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Colombia

OSPINAS

Bogotá - Colombia Calle 79B Nro.5-81 , www.ospinas.com.co servicioalcliente@ospinas.com.co Teléfono: +57 (1) 326.70.60 Fax: +57 (1) 326.70.70 Ospinas & Cía., is a property developer with a vast experience and a deep knowledge of the industry, which has turned into an important partner of investors and construction companies in Colombia. During its more than 80 years, Ospinas has been characterized as a leader company in the urban planning development of the country by creating projects that contribute to the transformation of the cities from an economic, cultural, urban and social point of view that remains in time and turned intoreferents of progress.

Ospinas has built more than 950,000m2(234.7 ac) in housing construction in different cities of Colombia. An example of this, are the Ventura Reservado and Reversa de San Luis in Cúcuta; Plaza Caribe in Cartagena; Zazué Condominium in Santa Marta; Imperial Reservado I-II and Arboleda del Parque in Bogotá and the housing macro project of social interest in Soacha, Ciudad Verde, where Ospinas participates with projects as: Orquídea, Azafrán, Sauco, Azahar, Cedro y Nogal. To this valuable and respected career is added a 30 years experience in which Ospinas has turned into a commercial development reference. With multiple successful malls as Ventura Plaza in Cúcuta, Caribe Plaza in Cartagena, Plaza de Las Américas, Salitre Plaza, Plaza Imperial, Milenio Plaza, Centro Mayor and Titán Plaza in Bogotá, among others, Zazué Plaza in Santa Marta and Plaza Bocagrande in Cartagena.

The projects lead by Ospinas include urbanism, housing, commerce, business centers, metropolitan scale developments, hotels, urban renewal and mixuse. Ospinas’ valuable experience has contributed to the urban transformation of Bogotá through development of famous urbanizations as Chicó, Santa Bárbara, El Castillo, Bosque Medina, Belmira and others. Additionally, this company has done significant projects as the Seminario Mayor de Bogotá, which was declared a national monument in 2005, and Bavaria Central Park. In conclusion, Ospinas & Cía’s projects turn into references to Colombian real estate industry. For more information go to: : www.Ospinas.com.co

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Disfrute de la experiencia de vivir cerca de su trabajo. El descuento será calculado a través de la página de prodesa.com y se tomará como medida la distancia entre el punto de venta y su actual domicilio. Los descuentos irán desde $1.000.000 hasta $6.000.000. El descuento será aplicado al valor total del apartamento en día de cierre del negocio mediante consignación bancaria. Oferta válida hasta 15 de diciembre de 2014. Para mayor información acerca de la mecánica del descuento acérquese a nuestra sala de ventas. La presente pieza publicitaria: renders, fotos, imágenes, diseños, dimensiones, distribución, áreas y medidas, espacios, acabados, elementos decorativos, perspectivas del proyecto y demás elementos publicitarios, son representaciones digitales y artísticas del diseño y por lo tanto no configuran como ningún tipo de compromiso contractual por parte del promotor o constructor. **Las áreas pueden sufrir modificaciones debido a ajustes técnicos y/o procesos constructivos de las aprobadas por las autoridades competentes (Curaduría y/o planeación municipal).

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MARANKAL APARTAMENTOS

Apartments From 692 to 2152 sq.ft. 1 to 3 bedrooms Estimated Date: 2016 Residential neighborhood La Carolina Bogotรก - Colombia Code: 14053

Contact: Grupo Conika

marankal.com info@marankal.com Phone: +57 (1) 472.11.30 637.66.76 ext 113 Cell: +57 310.774.83.67 1, 2, 3 bedrooms each one with private bathroom and also a guest and service bathroom. It has an excellent location in a privileged place in northern Bogotรก, in a traditional residential neighborhood. Its philosophy is based on sustainability, bioclimatic architecture and environmental awareness which is perceived in the aspects that make it different and unique as: green wall, outside stepped gardens, and decks to walk over the green platform. Additionally, it has technologies that take advantage of natural illumination and wind as well as efficient use of water and power, saving up to 30%. Includes BBQ area and playground.

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BAMBÚ

Houses Estimated Date: 2016 Cajicá - Cundinamarca Vereda El Canelón, Sector La Palma. Code: 14054 54 houses (1 type of house) From 161m2 (1733 sq ft) built area 2 floors with 3 parking spots Living with the convenience of the city surrounded by nature and calmly enjoying fresh air, all of this is possible in one of our projects, located in one of the major commercial developed areas of Cajicá municipality, just 15 minutes away from Bogotá. A well known area for offering a great variety of restaurants complemented with the arrival of new malls, chain and department stores and specialized medical care centers. BAMBÚ, is a closed set of 54 houses of 2 levels each, from 161 m2 (1,733 sq ft) in independent lots with 3 private parking spots. Among the main features of the houses are: 3 bedrooms with private bathroom and the possibility of a 4th guest bedroom in the 1st floor, american kitchen style, double height living room with a modern fireplace, dining room, terrace with gardens, TV room and a master bedroom with balcony. Moreover, it has a well thought out architecture in order to take full advantage of natural light and ventilation in each of its spaces; the harmony between its floor to ceiling windows and spatial design makes Bambú unique. Its common areas composed by a Club House with a heated swimming pool, sauna and steam room, green areas, tennis courts, micro soccer on grass court and a athletic circuit for recreational use, all of this provide opportunities of amusement with family in the comfort of home. The construction process began on September 11, 2014, the first phase will be delivered in mid 2015 and the total residential compound will be delivered in 2016.

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CANELÓN

Houses Estimated Date: 2015 Cajicá - Cundinamarca Vereda El Canelón Code: 14055 74 houses (2 types of house) From 117m2 (1259.4 sq ft) 3 floors with 2 parking spaces CANELÓN has a privileged location in one of the few zones of the municipality that allows this type of urbanism. Canelón is a project of 74 houses with 3 floors of a closed set with 2 types of houses from 117.32m2 (1,269.8 sq ft) and 130.88m2 (1,408.8 sq ft). Each house has an american kitchen style, studio, TV room, terrace in the 3th floor and private parking spots. Its amenities are part of the charm of this project, including swimming lanes, sauna and steam room, exercise area and playground. Currently, it is 40% completed, the first houses are projected to be delivered on January 2015. Canelón has been a reference in the zone owing to its architecture that allows its residents to live in well designed spaces for every type of family.

Contact: Morandi

Showroom: Vía Cajicá km 28 www.morandi.com.co a.rodriguez@morandi.com.co c.lopez@morandi.com.co j.penaloza@morandi.com.co a.diaz@morandi.com.co Phones: +57 310.791.73.26 314.218.32.03 314.357.14.29 320.300.22.27

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LUQUE OSPINA

www.luqueospina.com gerente.comercial@luqueospina.com Cell: +57 314.295.42.34 More than 50 years leading the real estate market We have been in the real estate market since 1964, leading construction projects, managing properties, appraisals, consulting in real estate and business promotion, which by their nature, have allowed us to participated actively in solving the needs of our customers in an efficient, safe and reliable way, which is the result of the strength, prestige, professionalism and tradition of our long career. SERVICES OFFERED: MARKETING OF PROPERTIES ON SALE Integral marketing of properties through a legal mandate given by the owner: •Commercial (offices, commercial premises or warehouse) • Housing (lots, houses, apartments) The real estate area is in charge of marketing the property to every possible purchaser, generated by our different sales techniques. PROPERTY MANAGEMENT The integral management of the property is done by a mandate agreement. The company´s real estate area is responsible of the lease contracts throughout its duration. Luque Ospina & CIA S.A.S permanently has a direct contact with the lessee in representation of the owner.

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VALUATION LUQUE OSPINA, leader in real estate for 50 years, offers specialized service of real estate valuation following IFRS standards to SME. It’s a study that analyzes diverse architectural, urban, structural, market factors, among others aspects to determinate the value of a property. It is done by a professional appraiser that evaluates legal, physical, methodological, economic and territorial aspects to guarantee an estimate price according to the market and fair to both the owner and potential purchaser and interested third parties. RENEWAL AND URBAN REGULATIONS The urban regulations control the usage, construction percentage and other important details, our goal is to advise our customers in everything related to urban regulationsLEGAL AND TAX CONSULTANCY We offer a complete tax consultancy service, either to companies as well as individuals who are interested in the advice of an expert in make any fiscal process.

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VIÑA DEL MAR

Apartments Estimated Date: 2016 Ciudad Jardín - Barranquilla Carrera 42 Nro.76 - 243 Code: 14060

Ideal Spaces, a Place to Grow

Contact: Vidco Caribe S.A.S. Emtiria S.A.S.

www.edificiovinadelmar.com www.emtiria.com Phone: +57 (5) 304.64.44 Cell: +57 304.609.27.70 Viña del Mar is constituted by a fifteen-story building with a basement, lower-ground floor, two (2) floor lobby and terrace; five (5) or six (6) apartments per floor; 78 apartments in total and three bedroom apartments with bathroom and an utility room. The Club House is located in the terrace and is equipped with a BBQ area, deck lounge, sauna with steam room, gym and an entertainment room. In the ground floor are located: the lobby, swimming pool, playground, administration office, as well as the comfortable parking spot for residents and visitors. Additionally, it has two (2) elevators, garbage chute and an emergency power plant. All this accompanied with the security of a residential complex that you and your family deserve. All apartments have one (1) parking spot. 844 sq ft 969 sq ft 1,059 sq ft 1,125 sq ft 1,357 sq ft 1,387 sq ft

2 bedrooms - 3 bathrooms 3 bedrooms - 3 bathrooms 3 bedrooms - 3 bathrooms 3 bedrooms - 3 bathrooms 3 bedrooms - 3 bathrooms* 3 bedrooms - 3 bathrooms*

*Plus bathroom and utility room

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SYRAH

Apartments Estimated Date: 2016 Britalia Norte - Bogotรก Carrera 56 Nro.169 A - 35 Code: 14061

Ideal Spaces, a Place to Grow

Contact: Vidco Britalia S.A.S. Emtiria S.A.S.

www.edificiosyrah.com www.emtiria.com Phone: +57(1) 677.62.78 Cell: +57 310.278.09.79 301.257.02.10 SYRAH is a ten-story building with a basement, terrace and a ground floor. It has thirty-six (36) apartments in total, four (4) apartments per floor that include three (3) bedrooms, two (2) bathrooms, studio, balconies, laundry room, walk in closet in master bedroom and American kitchen style. SYRAH has one (1) elevator, trash chute and a power plant for common areas. In the ground floor are located the lobby, communal hall, gym, playground, administration office and employees room. The parking spots are located in the basement and ground floor; additionally has a terrace equipped with a BBQ area. All this accompanied with the security of a residential complex that you and your family deserve. 929 sq ft 935 sq ft 940 sq ft 959 sq ft

3 bedrooms - 2 bathrooms 3 bedrooms - 2 bathrooms 3 bedrooms - 2 bathrooms 3 bedrooms - 2 bathrooms

All apartments have one (1) parking spot

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EQUILIBRIUM

Apartments Estimated Date: 2017 Bogota´s International Center Calle 32 Nro.6a-15, Code: 14062

Equilibrium in Downtown Bogota In one of the most important urban renewal poles of the city, Podresa develops Equilibrium, a project designed to satisfy the most demanding needs of those who want to live nearby everything.

Contact: Prodesa

Just a few steps from landmarks as the Colombian National Museum and the Planetarium of Bogotá and architectural landmarks as Park Towers and Bavaria Central Park. Equilibrium stands out for being a project that takes advantage of its privilege location to enjoy the view of the mountains and western Bogotá.

Amenities • Swimming pool with a wonderful view • Gym to work out and enjoy • An enviable terrace to share with friends

This project, is part of a bigger complex, located in 32th street with carrera 6, and will have two important apartment towers and a wide plaza with retail premises, creating a friendly and dynamic project integrated with its surroundings.

www.equilibrium.prodesa.com www.prodesa.com equilibrium@prodesa.com Phone: +57(1) 313.90.40 ext. 325

There are apartments from 53m2 (570.49 sq ft) to 70m2 (753.47 sq ft) with one or two bedrooms, they have a avant-garde and innovative design taking full advantage of space and natural light. Along with wide common areas as the garden equipped with a BBQ area, perfect for social events and to enjoy Bogotá’s sunset, and a swimming pool, Jacuzzi and a Gym in the rooftop with a 360° view. Life in Equilibrium is more than a concept, it’s an experience full of comfort, design and style; that will add a priceless value to both, your house and downtown Bogota, redefining the importance of the Colombian capital.

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Elija un descuento a la altura de su inversión. Equilibrium es el único proyecto que le ofrece un descuento de hasta $6 millones de pesos dependiendo del piso que escoja. El descuento máximo otorgado será hasta 6 millones de pesos. El descuento será aplicado al valor total del apartamento en día de cierre del negocio mediante consignación bancaria. Oferta válida hasta 15 de diciembre de 2014. La presente pieza publicitaria: renders, fotos, imágenes, diseños, dimensiones, distribución, áreas y medias, espacios, acabados, elementos decorativos, perspectivas de proyecto y demás elementos publicitarios, son representaciones digitales y artísticas del diseño y por lo tanto no configuran como ningún tipo de compromiso contractual por parte del promotor o constructor. **Las áreas pueden sufrir modificaciones debido a ajustes técnicos y/o procesos constructivos de las aprobadas por las autoridades competentes (Curaduría y/o planeación municipal).

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MOSAICO

Apartments Estimated Date: 2016 Usaquén - Bogotá Carrera 7B Nro.124 – 55 Code: 14064

Contact: Mendebal

www.proyectomosaico.com www.mendebal.com proyectomosaico@mendebal.com Cell: +57 320 495.26.13 Phone: +57(1) 215.94.32 743.74.30 From: 559 sq ft

1 bedroom - 1 bathroom.

To: 1,097 sq ft 3 bedrooms - 3 bathrooms.

MENDEBAL We are a company of great experience in the real estate development. Since our establishment in 1986, we have managed, built and promoted multiple property projects in different regions of the country, willing to improve the quality of life of the Colombians. We seek to satisfy the needs of our customers through the development of property projects that allow us to ensure the common wealth, the development of our staff, maintain a friendly relationship with the surroundings and strengthen the financial condition of our company. OKAP Since more than 40 years, we have developed essential solutions for each need in the real estate market, business structuring, as well as residential and commercial construction in Colombia; creating bonds with our customers, shareholders and investors through our strong portfolio of services and our committed staff.

Additionally, all apartments have a guest bathroom. Amenities: • Gym • Terrace equipped with a BBQ area • Playground • Communal hall • Reception Features : MOSAICO, a living area. There are 48 apartments distributed in 7 floors. MOSAICO is inspired in your lifestyle having an excellent location in a sector that offers everything you need; spacious areas, social areas and exceptional finishes. Mosaico is a welldesigned project, always thinking about your welfare.

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QUINCE OBRAS

Apartments Estimated Date: 2016 33% sold in presale From: 141.02 m2 (1,517.9 sq ft) Chicó Reservado - Bogotá Calle 96 Nro.9-96 Code: 14052

Contact: Altyva

www.15obras.com ventas@15obras.com Cell: +57 310.755.14.58 +57 313.453.08.72 QUINCE OBRAS is located in northwestern Bogotá; in the traditional and exclusive neighborhood Chicó, recognized as a calm residential neighborhood surrounded by green areas, famous restaurants and offices. Additionally is nearby the 100th street and 11th and 7th Carreras which constitute an advantage in terms of displacement and connectivity. The architectural design comes from the Architect Firm Rafael López Uribe that stands out for having a prestigious and awarded career since 1975. Therefore, QUINCE LETRAS has modern lines but also traditional elegancy that a masterpiece deserves. This design turns into a reference in the industry and change the landscape for those who appreciate nice design. 1,517 sq ft – including 100.10 sqft balcony. 2 Bedrooms, 4 bathrooms, 2 parking spots 1,948 sq ft – including 88sqft balcony. 3 Bedrooms, 4 bathrooms, 3 parking spots, 1 utility room 2,142.0 sq ft – including 198 sq ft balcony. 3 Bedrooms, 5 bathrooms, 4 parking spots, 1 utility room Amenities: • Terrace with lounge and BBQ area • Fireplace and hall • Playground • Business room • Cinema room • Gym • Massage room • Room for drivers and bodyguards

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TITANIUM CENTER Office From 26 m2 (279.86 sq ft) Estimated Date: 2017 Bogotá - Colombia Calle 79A Nro.18-57 Code: 14051

Contact: AFV Construcciones

www.afv.com.co ventas@afv.com.co Cell: +57 316.693.61.76 +57 316.693.66.52 We have designed for you a place with the best location of the sector, where we are sure that your projects will be the meeting point for your clients. Titanium’s strategic location will allow you the access to major routes, as well as a countless amenities due to its proximity to medical facilities, business premises, residential, commercial, financial and gastronomic areas, among other. Amenities: • Hotel lobby type • V.I.P waiting room • Business room • Communal terrace • Small theater • 2 commercial premises • Partial power plant

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TORRE SEKI

Offices Estimated Date: 2016 50% Sold Chicรณ Reservado - Bogotรก Carrera 16 Nro.93 - 78 Code: 14056

Contact: CMS + GMP Asociados

www.sekioficinas.com info@sekioficinas.com Phone: +57 (1) 530.68.27 Cell: +57 318.305.89.96 Offices from 35.62 m2 (383.41 sq ft) to 116.39 m2 (1,252.8 sq ft)

environment with high interior design and finishes standards. Our customers represent international companies, law firms, designers and independent professionals. The trajectory and experience of a company as CMS+GMP make us an essential reference for office projects. We have built important office buildings where their structure is the proven example of the design, construction and finishes that we provide to our customers. Amenities Halls with natural illumination, elevators equipped with the latest technology and impressive style, Executive Center formed by multifunctional meeting rooms of different sizes, special automatic security and control facilities, complete fire prevention system, self-service coffee bar and an efficient mechanic ventilation.

Ikeya Seki, was recognized for some experts as the biggest and brightest comet of the 21st century; seen at daylight on September 18, 1965 in all Europe. It was given this name owing to its independent discoverers: Kaoru Ikeya and Tsutomu Seki. Inspired by the brightness and tremendous size of this celestial body, we have designed Seki Tower, which in every aspect is an innovative offices project, with special features that will allow us to offer a high standard product for our customers. Seki tower is a project of offices that will turn into reference in the new enterprise architecture owing this to its design and innovative finishes, where the executives and clients of prestigious companies demand for better finishes, sustainability and services in this type of buildings. Having this in mind, we have inlcuded in the whole architectural design a bioclimatic treatment with its double layer faรงade, the external layer is a micro perforated plate, which apart from being an aesthetic element it acts as a heat shock, due to the distance it has from the faรงade of glass it creates a barrier of air that circulates permanently and prevents the glass to heat. In addition, we have generated a plenum space in the ceiling by strategically installing grids that allow air exchange inside the offices. All this supported by a great inner emptiness that creates lighted and ventilated circulations and acts as an air exchanger and tends to reduce the consumption of air conditioning in the building. The building is as versatile as we expect will be their customers. This tower was designed thinking in those professionals and businessmen that are seeking to develop their daily work activities in a comfortable

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TORRE LA MANSIÓN

Offices From 50m2 (538.20 sq ft) to 1,200m2 (1,2917 sq ft) Retail Premises From 78m2 (839.58 sq ft) to 500m2 (5,382 sq ft) Estimated Date: 2016 Cajicá - Cundinamarca La Milla de Oro Code: 14059

Contact: Inversiones y Construcciones La Mansión www.lamansioninversiones.com cposada@lamansioninversiones.com atorres@lamansioninversiones.com Phone: + 57 310.805.19.43 312.524.85.78 310.889.09.40

Excellent valorization of your investment Over the north Carrera, between Chía and Cajicá, next to Homecenter and future Fontanar Mall and surrounded by exclusive condominiums, that is where La Mansión Tower is located, an impressive and modern office tower and retail premises. La Mansión Tower is a smart building with the best location and constituted with the following amenities: • Double height lobby • Biometric access • Parking spots for visitors • Eco-friendly terrace

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SABANA PARK

Offices Estimate Date: 2017 Bogotá - Colombia km 4 de la vía Chía-Cajicá Code: 14063

Contact: Estrategias Comerciales

www.estrategiascomerciales.co lmadrinan@estrategiascomerciales.co m.martinez@estrategiascomerciales.co Phone: +57(1) 345.00.02 Cell: +57 314.750.8537

In a natural environment, very close to the major malls and services of the area, it is being built the most important medical and business complex of the Savanna of Bogotá. GENERAL DESCRIPTION • 6 office buildings and medical offices • General entrance • Wide plaza of retail premises • More than 700 parking spots • Equipped auditoriums • Business rooms • Equipped waiting rooms • 10 elevator equipped with the latest technology • Wide gardens and water mirrors • Covered terrace lobby type • Security cutting edge technology • Power plant • Modern and free maintenance façade • Safety glasses with temperature control

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Costa Rica

COSTA RICA By: María Joaquina Rodríguez Costa Rica, officially named the Republic of Costa Rica, is a multiethnic and multicultural country in Central America. It has a total area of 51,100 km2 (19,653 sq. mi). It is bordered to the north by the Republic of Nicaragua; to the southeast by the Republic of Panama; to the east by the Caribbean Sea and to the west by the Pacific Ocean. Its territory is composed of seven provinces, subdivided into 81 cantons, which in turn are divided into 463 districts. Its capital, San José, is located in the center of the country with an altitude of 1,160 meters above sea level (3,805.8 ft) and it is the seat of national government, the most important focal point of political and economic activity. It is a province of plains, mountains and rivers with an area of 170km2 (65,637 sq. mi) and approximately two million inhabitants. Currency and USD equivalent Costa Rica’s official currency is the Costa Rican Colón (CRC). Its symbol is a capital C crossed by two diagonal strokes “₡”. The current coins in circulation are 5, 10, 25, 50, 100 and 500 CRC. However, the coins mostly used are 50, 100 and 500 CRC due to the low economic value of the rest. In addition there are bills of 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000 CRC. In October 2006, the Central Bank of Costa Rica adopted a currency band to determinate the amount of CRC per USD. A currency band is an exchange rate system in which the Central Bank of Costa Rica posts the exchange rates as a “reference” establishing an upper limit (ceiling) and a lower limit (floor) allowing the price of the USD varies. Population Costa Rica has a population of 4,872,166 registered habitants up till 2013. Its capital, San José is the biggest and more populated city of the country. Its 40

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Great Metropolitan Area, with 2.6 million habitants including the municipalities of San José, Alajuela, Cartago and Heredia, constitutes about 60% of Costa Rica’s population. It is the most developed, populated and economically active region of Costa Rica. Most important cities San José. It is the most important focal point of political and economic activity and the seat of principal offices of the national government in which government’s different powers administer the country. San José is a city full of landmarks; it has a large list of world-class museums, parks, hotels, theaters and historic buildings that reflect the history of its people as well as their art, culture and development. The well-known and frequently visited canton of Escazú is located south of San José; a very attractive place for foreigners who are looking to retire in Costa Rica. Other important cities are: Alajuela, Limón and Puntarenas. Alajuela, home of a great variety of natural and manmade attractions, it belongs to the Great Metropolitan Area of Costa Rica and it is located 23 km west of San José; it is the second most populated city of the country. The Juan Santamaría International Airport, the most important airport of Costa Rica is located in Alajuela. It is the seat of one of the principal financial institutions: the Mutual Alajuela Group – La vivienda, as well as international banks such as: Scotiabank, HSBC, Citibank and others. Puerto Limón, located in the province of Limón along the Caribbean coast, is the capital of the province of Limón and it is located 160 km to east of San José. Its commercial sea port is the biggest and most important of the country; additionally, Limón is considered as Advertising valid for the Republic of Costa Rica

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one of the most exuberant regions of Costa Rica; it possesses approximately 125 miles of coast between Nicaragua and Panama, it has wonderful beaches of white sand bordered by palms. The city has a variety of landmarks for tourists and also astonishing architecture, unique in the area. Puntarenas, located 130 km to southwest of San José, is the largest province of Costa Rica and one the most important tourist regions of the country. It exhibits great geographical variety as: rainforests, cloud forests, forest reserves in a few islands of the Gulf of Nicoya, swamplands and the famous beaches of the Pacific Ocean. Its coasts are decorated by many islands, inlets, beaches and natural treasures of great beauty that turn it into an excellent national and international tourist destination, given that it is also a port of call for many cruise ships. Benefits of investing in Costa Rica Political stability. Costa Rica has one of the most consolidated democracies of America. It is recognized worldwide for being the first country that abolished the army on December 01, 1948. Its human development index is one of the best in Latin America, ranked 4th behind Argentina, Chile and Uruguay. Economic stability. Costa Rica has experienced great economic growth going from being a primarily agricultural country to a service economy. However, agricultural exports still represent an important source of revenue due to traditional farm products such as: bananas, coffee, sugar, cacao and pineapple; as well as nontraditional products such as: flowers and mini vegetables. The services sector has strongly grown over the last years, generating more than 10,000 jobs. However, the tourism industry has shown the highest growth and actually generates more income than any of the primary farm product exports.

The most attractive places to purchase property Costa Rica and the city of San José are undergoing a constant modernization process and an actualization in infrastructure, in addition to an important redevelopment of the city center. In the west of San José, there is an important growth of vertical construction, in the areas of Rohmoser, Pavas and the surroundings of La Sabana Metropolitan Park. Also, the Pacific and Caribbean coasts offer a varied range of real estate and beach projects that are of great interest for real estate investors. How to buy real estate in Costa Rica Pre-sales are an excellent opportunity to invest in real estate; normally, the initial deposit (close to 30% of the property value) can be divided throughout the time of construction, and the remaining 70% is paid through a mortgage credit upon delivery of the property. There are numerous banks in Costa Rica and each one has distinct requirements to grant a mortgage. Scotiabank and Banco de Costa Rica are two of the banks that lend money to foreigners that are not legal residents and the approval is based on: credit history and the revenue from the home country. In the case of Banco de Costa Rica, the credit can be chosen in USD or CDC with a minimum loan amount of 50,000 USD, with a commission of 3% and maximum financing of 20 years. The BAC San José is a private commercial bank that offers mortgages that can be chosen in USD or CRC. For mortgages in dollars, it offers a payment period of 15, 20, 25 and 30 years; the maximum financing is 70% of the property value and they charge a 1% commission of the amount financed.

Touristic location. In the Travel and Tourism Competitiveness index report 2011, Costa Rica was ranked 44th worldwide and 2nd in Latin America, surpassed only by Mexico. Personal security. According to the Global Peace Index report 2012, Costa Rica is 3rd among the most secure countries of Latin America, only surpassed by Chile and Uruguay; however, it was 1st according to Latinvex in the Latin American Security Ranking. Financing facilities. According to Costa Rican law, citizens as well as foreigners have unlimited right to property, land and soil. The legislation guarantees the purchase of property and the sale of lands and goods. The financing to purchase property in Costa Rica is available to citizens and foreigners alike; and can be obtained through financial institutions or banks; whether they are private or governmental. Typically, the bank will finance up to 70% of the property value, either in CRC or USD, creating a mortgage with a maximum loan finance limit of 30 years as a property guarantee.

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Costa Rica

Costa Rica,

Continuous Economic Growth By:

Olga Das Neves Equity International Group

Breathtaking natural landscapes and enjoyable same day micro-climates heighten the appeal for the thousands of tourists that annually visit Costa Rica. Certainly, Costa Rica offers the opportunity to visit 12 different metropolitan areas, 20 national parks, 26 protected areas, 9 forest reserves, 8 biological reserves and 7 wildlife sanctuaries. Moreover, it is recognized for possessing 6% of the world’s biodiversity and being the birth place of ecotourism. It is not surprising, then, that tourism represents the major source of income and USD in Costa Rica. During 2013, this industry brought more than USD 2.427 million to the economy and registered a record of over 2.42 million tourists; mainly from the United States and Canada. Nowadays, this industry generates over 150,000 direct jobs and over 400,000 indirect jobs. It is worth mentioning that in 1970 Costa Rica decided to create a national park system which constitutes 25.58% of its total territory, which is under different conservation sovereignties. Thanks to its natural wealth and the effort in preserving the environment, Costa Rica has become one of the principal destinations for ecotourism; 80% of tourists are attracted by this offer.

Trade Agreements with Singapore, Peru and EU. The first two are waiting for their legislative ratification and EU is in a revision process before it is signed. Additionally, Costa Rica is an active member of the World Trade Organization. Costa Rica exports thousands of goods to the world and it is highly recognized as one of the top 30 exporting countries of high-technology; being the leader in this sector in Latin America. In 2013, exports under this concept reached USD 1,500 million, a number that has multiplied twice faster than the rest of export of goods in the free zone. Within the export of high technology products, there are not only medical devices, but also sub sectors such as biotechnology, pharmaceutical and electro medical products. The advances of the “American Switzerland”–thus named for being a very peaceful country that has not suffered big financial shocks and additionally does not have an army- is not limited only to economic aspects, but also social. Costa Rica achieved a decrease in poverty in the last 20 years from a 40% to less than 20%. Currently, it is considered the most secure nation

Leading exporter of high technology The Costa Rican economy has been favored by its policy of trade liberation which has allowed it to increase the proportion of exports of 30% of GDP in 1980 to a rate of 50% of current exports (including exports of goods and services). In 2014, Costa Rican external trade was expected to register a growth of 3.6%, 1% more in relation to 2012; when exports reached 2.6%. In 2013, the export of products added up to about USD 11,500 million, while export services were calculated as more than USD 5,000 million. For 2017, the annual export objective is USD 19,900 million (USD 11,500 million of exporting goods and USD 8,400 million of exporting services). Currently, Costa Rica has Free Trade Agreements with Mexico, Canada, Chile, Dominican Republic, Trinidad and Tobago, Panama, member countries of CARICOM and China. Moreover, it has signed Free

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of Latin America and in 2009 obtained the highest rate of happiness in the Happy Planet Index. All of these aspects, combined with the political stability and high educational level of the population, have made it possible for Costa Rica to continue attracting more foreign investments to the different sectors of its economy. Foreign investment in real estate In 2013, real estate investment spearheaded the Foreign Direct Investment (FDI), obtaining a 43% of same and representing a record number of USD 1,160 million. From this investment, at least two-thirds was devoted to the purchase of land, properties and commercial premises by non-resident foreigners. This figure reflects the development of big projects such as the expansion of Multiplaza Curridabat Mall; a Salvadoran investment, and the beginning of City Mall in Alajuela; a Honduran investorâ&#x20AC;&#x2122;s initiative. Real estate has been gaining momentum for 3 consecutive years within the FDI of the country, while other traditionally dominant industries have been falling. The investment funds come primarily from the United States which is the largest investor nation contributing to Costa Rican FDI. However, during the last year there have been registered funds from Latin American countries such as Panama, Nicaragua and Colombia. There is no doubt that Costa Rica is a country that has been and continues to be in full growth, affirmed by its political stability and proving its political and economic policy; thereby remaining not only an attractive tourist destination, but also a very inexpensive, secure, and profitable destination for investors.

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Costa Rica

KIREBE

Pozos - Santa Ana www.kirebe.com info@kirebe.com Phone: +506 2203.7240 Code: 14066 Apartments From 602 sq ft to 2,023 sq ft 1 to 3 Bedrooms Town Houses From 1,657 sqft to 3,648 sq ft 3 or 4 Bedrooms Independent Houses From 3,347 sq ft to 4,972 sq ft 3 to 5 Bedrooms Amenities • Lounge halls • Adult and children swimming pools. • Spa (hydro massage) • Tennis court • Racquetball court • Volleyball court • Soccer field • Putting green • Playground • BBQ areas • Gym • Coffee shop • Business center

KIBERE S.A is a company of Costa Rican capital established in the late 80s, with the fundamental purpose of designing and building projects of all kinds. In 1993, we made an incursion into the residential market (houses and apartments) quickly making us precursors of a new lifestyle in Costa Rica. 20 years of experience support our constant and professional career that ensures our expertise in quality lifestyle. We design and build to satisfy the highest expectations of our customers. We have been characterized since the beginning for being visionary and entrepreneurs, always focused to innovate and improve our designs. As a result, we have obtained a perfect fusion between security and comfort with today’s useful and modern residential condominiums; where our customers enjoy welldesigned houses and apartments.

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We make the difference by paying attention into the details, we are committed to achieve our promise of improving the quality of life, therefore, when we are planning a new project, our objectives are: • Excellent locations in all our developments. • Guaranteed security for those who live in our projects. • Innovative designs in community spaces and amenities that contribute to improve the quality of life of our customers. • High quality finishes in our houses and apartments, as well as in the infrastructure and amenities that surround them. • The enjoyment of nature is priority for us, and it is an essential part of a quality life, therefore, gardening in our projects always has a special importance.

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THE IVY

A new modern lifestyle in harmony with nature is waiting for you in The Ivy, located in one of most economic active zones of the metropolitan area, in a privilege location that allows being nearby the city, but without giving up peace. It is unique owing to 70% of its terrain is conserve as a green and recreational zone.

Contact: DWL

A magnificent project of modern architecture with wide inner spaces, luxury details and comfort; designed by JSA firm, winner of numerous international awards. The Ivy is developed by DWL, a company with more than 30 years of excellence in real estate market.

Apartments Estimated Date: 2016 Guachipelín - Escazú a 400 mts. norte de Construplaza Code: 14067

www.theivycr.com www.dwlcr.com info@theivycr.com Phone: +506 2215.0023 1,076.39 sq ft 1Bedroom - 1.5 bathrooms - 2 parking spots 1,442.364 sq ft 1 Bedroom + studio - 2.5 bathrooms - 2 parking spots 1,948.268 sq ft 2 Bedrooms - 2 bathrooms - 2 parking spots (2,098.962 sq ft 3 Bedrooms - 3.5 bathrooms - 2 parking spots 2,131.254 sq ft 2 Bedrooms - 2 bathrooms - 2 parking spots

Common areas: Controlled access, Club House, Multiuse courts, Playground, Treatment plant, Bike lanes, Jogging track, Business center, Parking spots for visitors, Gym, Jacuzzi, Sauna and steam room, Massage room, Yoga room Swimming pools.

All units have: Double height ceiling, walk-in-closet, laundry room and warehouse.

*precios son válidos para noviembre 2014 y podrán varias sin previo aviso.

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RIVER PARK BY AVALON

Apartments Immediate Delivery Presales for delivery in 2015. 80% Sold. Santa Ana Centro - Santa Ana De La Cruz Roja 200 mts Este y 175 Sur. Code: 14068

Contact: Avalon

www.riverparkcondominios.com info@riverparkcondominios.com Phone: +506 2282.8787 473.612 sq ft (studio type) 1 Bedroom - 1 bathroom 654.83 sq ft

1 Bedroom 1.5 bathroom

807.29 sq ft

2 Bedrooms - 2 bathrooms

925.69 sq ft

2 Bedrooms - 2 bathrooms

Length and prices subject to availability and change without notice Common areas:

Club House with restaurants, halls for events, temperate adult and children pools, Jacuzzis, Gym, Tennis court, Playground and hiking trails in extensive green areas next to a small natural river.

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BAMBÚ ECO-URBANO

BOSQUES DE ESCAZÚ

From 775 sq ft to 904.1 sq ft

From 78m2 (839.5 sq ft) to 333m2 (3,584.3 sq ft)

Apartments Estimate Dade: 2017

San Sebastián - San José www.bambuecourbano.com Phone: +506 2214.1111 8860.7777 Code: 14069 Bosques de Escazú and Bambú Eco-Urbano are among the best and most innovative real estate projects developed in Costa Rica in the last two years, in which RC Inmobiliaria has been establishing standards in sustainable building in Costa Rica. “Bambú Eco-Urbano is a highly innovative project with its mixed development concept offering apartments, Malls, Club house, swimming pool, sports facilities and offices all of this in the same place, moreover, it has a strong environmental sustainability”, explains Fuad Farach Caldera, General Director of RC Inmobiliaria. Bambú Eco-Urbano makes its residents’ life easier, saving time and travel costs, in result you will have more time to enjoy your family. It is located in San Sebastián; nearby everything: just 5 minutes away from the capital’s downtown, 10 min. away from La Sabana Metropolitan Park and main hospitals, universities, schools and high schools of this capital area. Another great feature of Bambú is that it has the luxury and comfort of the best properties in the market at a reasobale price and a comfortable location for those who work in San José’s Downtown and its surroundings. Therefore, currently Bambú is the most successful project in sale among apartment projects of the Great Metropolitan Area in Costa Rica. Its construction began in August 2014.

Bambú

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Escazú - San José www.bosquesdeescazu.com Phone: +506 2289.7774 8705.3355 Code: 14070

Bosques de Escazú is another innovative and successful residential complex by RC Inmobiliaria, in 2012 it was awarded with the Sustainable Construction Award of the Costa Rican Chamber of Construction; and also in 2013 the René Frank Award of the Costa Rican Chamber of Real Estate Brokers. This project of 120 apartments, Club House and an extensive green area, has a bioclimatic architecture, environmental technologies to save water and power, environmentally friendly materials, solar panels to heat water, water treatment plant and a reforestation project of 400 native and naturalized trees, among other features that make it an eco-residential model. The sustainable of the project is breathed in every square feet of Bosques de Escazú, its construction began in March 2012 and ended in July 2014. There are only two penthouses and four apartments available. The rest is completely sold.

Bosques de Escazú

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Ecuador

ECUADOR By:

María Joaquina Rodríguez

Ecuador, officially named The Republic of Ecuador is a country located in Northwestern South America; bordered by Colombia on the north, Peru on the east and south, and the Pacific Ocean on the west. It has a total area of 283,560 km2 (109,484 sq mi) and has a population of more than 15.9 million of habitants. Ecuador is furrowed from north to south by a volcanic section of the Cordillera de los Andes, which its occidental and oriental sides are the Gulf of Guayaquil and a wooded plain, and the Amazonia. Ecuador has the highest concentration of rivers per square kilometer of the world. The Ecuadorian territory includes the archipelago of Galápagos Islands, which are located 1,000 km (621, 371 mi) west of the coast, and has the densest biodiversity of the world. The capital city of Ecuador is Quito (officially San Francisco de Quito) is situated in the heart of the Andes, and although, it is located a few kilometers south of the Equator line it has a temperate weather all year long, owing this to its altitude of 2,860 meters above sea level (9,383.202 ft) (average annual temperature of 52.2 °F). Quito has been qualified as the fourth capital city with the best quality of life of Latin America, only surpassed by Buenos Aires, Montevideo and Santiago de Chie, and currently it competes to be considered as one of “The New 7 Wonders Cities”. Currency and USD equivalent The Ecuadorian official currency is the United States Dollar that in 2000 substituted the Sucre, its previous official currency. The current bills in circulation are of USD 100, 50, 20, 10, 5, 2 and 1 and there are also coins of USD 1 and 50, 25, 10, 5 and 1 cent. Most important cities Quito. It is the capital city, and it is where the national government and all of the government’s powers are 50

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gathered. It is the second most populated city of the country with a population of 2,458,900 habitants according to INEC (Ecuador: National Institute of Statistics and Census). Quito was declared World Cultural Heritage Site by UNESCO in November 1978 owing this to its beauty, architectural contrast, traditions and cultural special features, and recently won the award of World Travel Awards 2014 in the category of South America’s leader destination, with the best preserved historic downtown of the region; award that surely will stimulate Ecuador’s touristic growth. Santiago de Guayaquil. Also known as Guayaquil, it is the main port and economic capital of Ecuador, as well as the largest and most populated city with about 2,684,016 habitants. Important cultural center, seat of three universities, numerous institutes, colleges and museums, and it is a very active commercial point that is still expanding; with an excellent natural port and it is where Ecuador moves most of its import (83%) and export (70%) activities. Cuenca. Situated in the Ecuadorian part of the Andes, Cuenca is also known as the Athens of Ecuador; with an elevation of 2,550 meters above sea level (8,366 ft.); it is the third largest city of Ecuador with a population of 558,127 habitants, according to INEC 2013 data. Cuenca is a living intellectual center, seat of several universities; it has a quality hotel infrastructure, good public services, infrastructure, financial services and health and telecommunications systems. Cuenca has turned into a perfect place to live and a paradise for foreign retirees. Ambato. It has a total area of 70 km2 (27.027 sq. mi) and a population of 356,009 habitants and it is located in the Ecuadorian part of the Andes at an elevation of 2,577 above sea level (8,454.7 ft.); also known as the Garden of Ecuador owing to its year long spring weather. As a result of its position on the Pan-American Highway, Ambato is Advertising valid for the Republic of Ecuador

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an important point of commercialization of nearby regions agricultural products, and has some alimentary, textile and timber industries. Reasons to invest in Ecuador Ecuador has an excellent location and stands out owing to its low cost lifestyle, good quality properties and presents one of the most diverse options as a country in terms of landscape and weather. Economic and political stability. According to the United Nations Economic Commissions for Latin America and the Caribbean (UNECLAC), Ecuadorian economy is among the best economic performances of Latin America and is considered as the second most active economy of South America with a growth of 5.5% surpassed only by Peru with a growth of 6.4% and leaving behind Chile with a 4%. Since 1992, Ecuador has been eliminating commercial barriers, opening trade borders and decreasing customs duties for countries in the region. All this has resulted in a gradual rising in the Global Competitiveness Index (GCI) of Ecuador, which has risen from 105th in the 2007-2008 up to rank 71th in 2013-2014 and ranking ninth of Latin America with a value of 4.18% Ecuador provides incentives to investors; it has one of the lowest income tax rates in the region (23%) and one of the lowest unemployment rates.

sale. In Ecuador the legal procedure to acquire a property is only through an execution of a purchase & sale deed that must be registered in the Nation´s Property Register Authority, nonetheless, if a property project is being bought, this document will be postpone until the project is finished and delivered. Until then, the only available document to the customer will be the notarized promise to purchase & sale agreement. Once the property is finished and prepared to be delivered, the procedure to obtain the legal property of the asset, is to proceed to present the purchase & sale document at the municipality where the project is located; once paid the corresponding taxes (municipal tax, business profit tax and corresponding provincial council tax) the municipality will transfer the possesion with the signing of the final and definitive purchase & sale document or “deeds” which will be then enrolled in the cadastre. Opening of bank accounts With a bank account in Ecuador you can receive and do payments, bank drafts or transfer to anywhere in the world. Some banks allow foreigners to open accounts in Ecuador without being residents, but the requirements to open accounts vary in each bank, nonetheless, generally, they will require you passport, banking, commercial and employment references.

Incentives to real estate sector. Since 2009, Ecuadorian government has applied policies, incentives and investments to strengthen the real estate sector. This has constituted a significant factor for the growth of the national GDP, becoming the construction industry the second highest growth industry of Ecuador. Touristic growth Ecuador has been selected by numerous international institutions, including Travel Advisor and United States Tour Operators Association, as the World’s best destination to visit, moreover, according to Lonely Planet (considered the bible of tourists), Ecuador is the best destination in Latin America and it is among the Top 10 World’s best destinations to visit. How to buy a real estate in Ecuador In general, foreigners as well as Ecuadorians can buy and acquire properties, situated in the territory of the Republic of Ecuador. Process to follow to purchase-sale property in Ecuador. When the property to be acquired is still a project, a recommendation is that before that you hand over any amount of money, make sure the property project has its respective registered or approved plans and the Condo Title approved by the corresponding local government. When a property project is going to be bought, normally, the owner or building company, demands an amount of money to reserve the property to be acquired. On the other hand, to be more secure about the process, the ideal would be to sign at a notary an agrrement of purchase &

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Ecuador

Guayaquil,

From Anarchy to Harmony By:

Olga Das Neves Equity Media Group

Guayaquil (officially Santiago of Guayaquil) is situated in the Pacific Coast in the Ecuadorian littoral. Currently, it is the largest and most populated city of the Republic of Ecuador, moreover, it is the main port of the country; simultaneously it is the capital of the Guayas province. It has a total area of 344.5 km2 (1,33.01 sq mi) and a population of 2,684,016 habitants. Santiago of Guayaquil was founded in 1547 by the Captain Francisco de Orellana, and slowly grew at the right of Guayas River in the Cerrillo Verde, now known as Santa Ana Hill. Guayaquil was turned into a shipyard and a commercial port at the services of the Spanish crown. Its strategic location at the shores of Guayas River permitted to develop an important port activity that ever since has been its economic engine, even nowadays Guayaquil’s port is one of the most important ports of the eastern Pacific Ocean due to the fact that through this port are moved 83% of imports and 70% of private exports of the country. Currently, Guayaquil is considered as the economic capital of the country due to its enormous amount of companies, industries, factories and commercial premises; possessing 39% of the top 1000 companies of Ecuador. In 2010, this region was responsible of generate 26.44% of Ecuador’s GDP.

During the 90s, Guayaquil suffered a transformation from being a troubled, grey and bustling city to be a more colorful, orderly and delightful city; in order to be a capital not only more friendly, attractive and modern, but also a high quality tourist destination. With an objective in mind Local government applied several correct actions and decisions, as the recovery of overpasses in order to clear traffic, legalize lands for 80 thousand families, the improvement of the waste management program, among others actions; under the motto Guayaquil Lives for You. In the mid 90´s large-scale constructions were initiated such as the remodeling of the Simon Bolivar Seafront, all of this in order to modernize and transform Guayaquil into a quality touristic destination. The Simon Bolivar Seafront, now named Malecón 2000; constitued in the 19th century the first impression to travelers that arrived by ship. By then, the seafront was called Calle de la Orilla. It has wood seats and gray cast iron lamps to light pedestrians. This road that used to be illuminated and made for the enjoyment of its habitants and visitors, over the years and the arrival of modernity, turned into an abandoned, dark and insecure seafront. By 1999, an urban renewal project was initiated and was finished the year after. Today, Malecón 2000 is an urban park, full of history, modernism and nature with an area of 2.5 km (1.5 mi.) in which a wonderful fluvial landscape, gardens, artificial lakes, fountains, lookout, piers, squares and historic monuments as La Rotonda, Morisca Tower, La Aurora Gloriosa and Olmedo Statue can be enjoyed. Nowadays, it is a touristic landmark that is visited by 1,600,000 people per month and reaches 3,400,000 in July, when Guayaquil’s festivities are celebrated. Continuous recovery At the beginning of the century, the campaign and project Guayaquil Lives for You was maintained; focusing in building new constructions as Velero Bridge, extension of the metropolitan road system, potable water provision, sewage system and the development of a large scale renewal project of Salado Estuary. In the past, in the Salado Estuary were established Salao’s bathrooms due to the belief that its salty waters had medicinal attributes, by the 20th century the area turned into a large garbage yard with contaminated wastes from the city. This project initiated in 2009 and has a total area of (29.6 ac) including the cleaning up of waters and development of a commercial touristic complex.

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Today, the Malecón of Salado Estuary has two blocks of two floors each, united by a bow pedestrian suspension bridge with a length of 55 meters (180.4 ft); moreover, each block has in top of it a dock with a lookout to observe the estuary and aquatic activities that are practiced in it. The docks simulate a boat with big sails in order to give the city a marine appearance; furthermore, this complex has a large variety of restaurants, gardens, rest areas, 66 parking spots, restrooms and boat trips through the Estuary. It must be highlighted as well, that along the Malecón were built the Plaza of Writers in honor to five Guayaquilean writers, Plaza of Health that recognized the effort of municipality for its environmental labor, Plaza of Shellfishes in which Ecuador’s seafood can be tasted, and the Guayas and Quill native’s stained glass window which according to some historians, originates the city’s name. Additionally, another of the projects initiated by the urban renewal project was the renovation of Santa Ana’s port; an architectural megaproject similar to Coconut Walk in Miami or Puerto Madero in Argentina. Santa Ana’s port is next to the neighborhood of Las Peñas, and part of the structure rises above the abandoned buildings of the old national beer company. The first phase of the construction finished in 2007 and now offers a route of 7,500 m2 (80,729.3 sq. ft.) filled of squares, museums, mini markets, coffee shops and restaurants . In the second phase of Santa Ana’s project includes the development of entertainment areas, an art and music center, a completely glass-made lighthouse, a pyramidal hotel; moreover, numerous green areas with traditional coconut palms.

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SPAZIO

Apartments

From 721sq. ft. to 1,474.66 sq. ft. 1 - 3 bedrooms

Estimated Date: 2016 Ciudad del Río - Guayaquil Puerto Santa Ana Street Numa Pompilio Llona S/N Code: 14072

EMPORIUM Offices

From 452 sq. ft. to 5,005sq. ft.

Estimated Date: 2015 Ciudad del Río - Guayaquil Puerto Santa Ana Street Numa Pompilio Llona S/N Code: 14050

Contact: Pronobis

www.pronobis.com.ec www.ciudaddelrio.com.ec Phone: +593 (4) 2082.055 - Ext. 1 Ciudad Del Río is one of PRONOBIS’ megaprojects, which is part of the Consortium Nobis; Ciudad del Río has a plot of 2.7 ha (6.67 ac) and an investment of 218 million in 8 built buildings and 4 more in construction. It is expected to be a 15 buildings complex including the Wyndham International Hotel, Riverfront Towers Apartments I-II, and the highest offices building of Ecuador the Point, 4 Bellini Towers, new Spazio Tower and the business center Emporium.

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MYSTIQUE

Apartments From 529 sq ft to 1,087.15 sq ft 1 - 3 bedrooms Estimated Date: 2016 Street Rumipamba E2 225 between Amazonas and República La Carolina - Quito Code: 14073

Contact: M Heller Group

www.mystique.com.ec/ msosa@uio.satnet.net Phone: + 593 (2) 2902.128 Cell: + 593 98.9236.199 99.5405.841 Area

Bedrooms

527 sq ft 602 sq ft 645 sq ft 775 sq ft 807 sq ft 850 sq ft 1,044 sq ft 1,087 sq ft

1 1 1 2 2 2 3 3

Bathrooms

1.5 1.5 1.5 2 2.5 2 2 3

M HELLER GROUP is building a new project. Mystique building is located in one of the most desired sectors of Quito; in Rumipamba street, between Amazonas and República; it is half a block away from Parque La Carolina and a few steps from El Jardín Mall, Iñaquito Mall (CCI) and the Financial Center at Amanozas Ave. moreover, it has public transportation nearby. Amenities. Decorated entrance hall, two smart elevators, common areas access controlled by magnetic cards, parking spots for visitors, CCTV cameras in common areas, business room equipped with internet access. Each apartment has its own laundry room; but also there is a common laundry room for all condominiums. This project includes an emergency power plant, a gym equipped with exercise machines, sauna and steam room and a common rooftop terrace equipped with a BBQ area and a spectacular 360° view of all Quito.

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EDIFICIO ALCÁNTARA

Apartments 495 sq. ft. to 1,184 sq. ft. 1 - 3 bedrooms Estimated Date: 2017 Iñaquito - Quito Orellana Ave. and 9 de Octubre. E24-27 Code: 14076

Contact: Tamayo & Asociados Constructores

www.constructoratamayo.com alcantara@constructoratamayo.com Phone: +593 (2) 2500.524 Cell: +593 98.4521.047 Located in northern center of Quito, with high investment profits and near to the main schools, establishments, banks, governmental agencies, etc. It has first class finishes and the price includes a covered parking spot and a warehouse. It can be financed by any finance company. Don’t miss the opportunity and benefits of purchasing at preconstruction prices 496 sq. ft 1 Bedroom – 1.5 bathroom – 1 parking spot 947 sq. ft. 2 Bedrooms – 2.5 bathrooms – 1 parking spot 1,184 sq. ft. 3 Bedrooms – 2.5 bathrooms- 1 parking spot Amenities: Community hall, entertainment room, gym, wide entrance hall, 24 hour nursery, CCTV cameras, security doors, power plant, 2 elevators.

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ALTOS DE GIRONA

Houses From 1,765 sq. ft.to 1,959 sq. ft. 1 - 3 bedrooms Estimated Date: 2016 Ponciano Alto - Quito 4th Street and MoisĂŠs Code: 14079

Contact: UrbanPlus, S.A.

ventas@urbanplus.com.ec urbanplus@hotmail.com Phone: +593 2.2806.636 Cell: +593 99.2732.013 3 Bedrooms 3.5 Bathrooms 2 Parking Spots Balcony Living â&#x20AC;&#x201C; dining room Studio / lounge American Kitchen style Laundry room Inner and external warehouse

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Altos de Girona has the best location of Quito due to the fact that it is close at hand of schools, high schools and universities; and just 5 minutes away from Condado Shopping Mall that has numerous banks, pharmacies, Megamaxi and more. Amenities: Community hall Parking spots for visitors BBQ area Green areas Multiple court Cisterns equipped with a pumping system Guardhouse in each entrance CCTV surveillance cameras Garbage rooms Concierge service 36,597 sq. ft. of common areas.

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Visite Nuestra Casa Modelo Calle4 y Moisés Luna Ponciano Alto, Quito.

Última Etapa (02) 28006 363 (099) 2732013

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Invertir para el Futuro

Al estar en una zona de Alta Plusvalía su inversión esta asegurada, muchos de nuestros clientes han ganado hasta un 20% de su inversión. El conjunto Altos de Girona provee toda la comodidad que usted necesita haciendo de este lugar algo más que una casa, un hogar. www.equitymedia.la

Ecuador

GRAND DIAMOND BEACH

Apartments From 1,130.2 sq. ft. to 1,528.4 sq. ft. 2 - 3 bedrooms Estimated Date: 2016 Club del Pacífico - Tonsupa Esmeraldas Province Diamond Beach Ave. with Del Pacífico Ave. Code:14080

Contact: Constructora Andrade Rodas VIP S.A. www.vipconstructora.com recepcion@vipconstructora.com Phone: +593 (2) 334.14.64 Cell: +593 98.0642.381 98.9326.778 99.8763.552

Grand Diamond Beach is the only project that delivers all its apartments equipped with: • All areas with remote controlled Air conditioning • Bathroom doors in tempered-glass • Electric curtains • Intelligent lighting system • Complete kitchen appliances

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GRAND DIAMOND BEACH is just at a 4 hour drive from Quito or a 25 minute flight. In the delightful beaches of Tonsupa – Esmeraldas, is located Gran Diamond Beach wich is the tallest beachfront building and the third tallest of the country: . It is a beachfront building with 31 exclusive and elegant floors. This project is developed in a beachfront plot land of 0.79 ac, in a residential sector. This project has 104 luxury apartments, of 2 or 3 bedrooms ranging from 1,033 sq. ft uo to 1,560 sq. ft.)of built area and 2 penthouses of 3,498 sq. ft. plus a 3,702 sq. ft. exclusive terrace. From the third up to the 28th floor, there are only 4 apartments per floor, 2 of 2 bedrooms and 2 of 3 bedrooms. The 29th, 30th and 31st floors are reserved for the 2 exclusive penthouses. All apartmens have luxury finishes and are delivered with complete appliances in the kitchen, air conditioner in each room controlled by remote, electric curtains and intelligent lighting system. Grand Diamond Beach’s common areas are comparable to any 5 star resort of the world: 8611 sq.ft swimming pool, water playground, spa equipped with hydro massages, sauna and steam room, fully equipped gym, restaurant with room service, nursery, tennis court, volleyball court and a half basketball court. Additionally, it has a power plant that covers 100% of all areas, water treatment plant, and a sewage treatment plant.

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EXCLUSIVIDAD ESPERANDO POR USTED

40% VENDIDO

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MOSCÚ PLATZ

Apartments 968 sq. ft. with 2 bedrooms Offices 322 sq. ft. to 613 sq. ft. Estimated Date: 2015 La Carolina - Quito At the intersection of Moscú and Noruega streets, a block away from República del Salvador Ave. Code:14077

Contact: VHG Arquitectos Cia. Ltda

www.quitodepartamentos.com ventasconstructora@vhgarqs.com Phone: +593 (2) 6020.959 Cell: +593 99.4917.488

Moscú Platz is situated at the intersection of Moscú and Noruega streets, a block away from República del Salvador Avenue. In a prime location due to its proximity to Quito’s North-central financial and commercial center. Moscú Platz is constituted by 2 bedroom apartments o 968 sq.ft. and also offices of 430 sq. ft. and 538 sq. ft. It is a 10-story building with 3 basements for parking including a visitors parking spot. Comfort, technology, security and luxury; those are our concepts in this project, and as a result, each Moscú Platz apartment is equipped with a sound and illumination system that can be controlled by your Smart Phone or Tablet. Additionally, the front door look will be a digital Samsung lock which is a non-key lock that works with password, providing comfort and security, The elevator is equipped with the latest generation technology with a 7” screen and a fingerprint reader that will take you directly to your apartments’ floor without the use of any key or card. Moscú Platz will have bathroom fittings and showers equipped with colored LED lights that are an attractive decoration and also it will notify you whether water is cold or hot by glowing blue and red respectively. The first class finishes include the guarantee and quality of a hardwood flooring in the social areas; exported from one the largest factories of America.

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Ecuador

BERNINI OFICINAS

Offices From 635 sq. ft. to 785 sq. ft. Estimated Date: 2015 La Carolina - Ecuador Pasaje Tamayo and 6 de Diciembre Ave. Code: 14078

Contact: Urbicasa

Desarrollo Inmobiliario www.urbicasa.ec publicidad@urbicasa.ec Phone: +593 (2) 2496.301 The offices building BERNINI is located in an exclusive business area of Quito; surrounded by banks, hotels, restaurants, supermarkets and it has an easy access to public transportation. BERNINI has an elegant architectural design, maximum quality finishes, efficient distribution of space and a refined and modern access hall. Furthermore, BERNINI has a friendly environment, perfect for caring out your daily activities and provides comfort for those who visit it. The offices have one bathroom and 1 or 2 parking spots. Amenities: Common terrace Meeting room Parking spots for visitors

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Panama

PANAMA By:

María Joaquina Rodríguez

Panama is located in Central America and has a surface area of 29.12 sq. miles. Given its geographical position, it offers the world a wide platform for shipping, commerce, real estate and financial services, among these the biggest Free Zone of the continent and the second one of the world (Colón), the biggest banking center of Central and South America, an entirely dollarized economy and a regional market with over 600 million people, which gives it the advantage of being the best logistic platform with shipping and air connectivity of Latin America. Its capital, Panama, is a cosmopolitan city with a quiet and safe lifestyle which offers interesting investment, shopping, gastronomy and a choice of the most famous international hotel chains. Currency/Equivalence in Dollars Panama’s currency is the Balboa which is worth as much as an American Dollar. Only dollar bills are in circulation along with quarters of a dollar and balboa cents; they both have the exact same value. Demographics As of 2013, Panama had a population of 3.862.170 people. Panama’s capital, which shares the country’s name, is the biggest and most crowded city of the country with 2.087.483 residents, more than the 50% of total national demographics. Most Important Cities Panama City, the capital of the country, is the seat of one of the most important banking centers in Latin America; it has the biggest port in Latin-America´s Pacific Ocean and is the main commercial and industrial center. San Miguelito (339.090 inhabitants) is a district settlement of Panama’s province, that works as the “dorm city” of the capital. 66

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Another two important cities are: Colón with 198.551 inhabitants; a port located in the Caribbean coast of the Isthmus of Panama. It has the second biggest Free Zone of the world, a cruise homeport and the biggest port of the Atlantic, and David with 138.241 inhabitants is an agricultural and commercial center located near the border with Costa Rica, from where a large amount of agricultural products are distributed to the rest of the country. It is also the epicenter of one of the most important tourist areas of the country. Benefits of Investing in Panama Panama is the Latin American country with the biggest economic growth of the past years. According to Global Peace Index, Panama is the second safest growing country of Central America after Costa Rica, it is also considered as one of best destinations for retirement in the world. Its stable dollarized economy with inflation below 5%, transforms Panama into a great destination for investors. Financing opportunities. Panama has one of the biggest banking centers of the world with 87 banks stablished along the country that give credit of up to 80% of property’s value and payable in installments of up to 30 years. Usually, foreigners should have an initial deposit of between 30% and 40% of the property’s value and then finance the remaining cost. Tax Exoneration. Panama offers the possibility of obtaining properties exempt from real estate or property taxes. This exemption may be valid 5, 10, 15 or 20 years depending on the date when construction of the property began. Yield. Another great advantage of buying properties as investments in Panama is the interesting annual yield that real estate leases offer with approximately an equivalent of 8% annually over the investment value.

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Panama

Most attractive places to buy Panama City. The main luxury condominiums with ocean view are found in Panama City, mainly distributed along Balboa Avenue and Pacific End and East Coast sectors. Besides these three areas, other urban luxury projects with ocean view can be found in the areas of Punta Paitilla, Coco del Mar and San Francisco, along with beautiful residential areas developed around Panama Canal such as Albrook, Clayton and Quarry Heights. Montañas. Panama has also experienced an important growth related to mountain developments, with temperate climates between 18oC and 20oC in the Coclé and Chiriquí Panama’s Provinces. “BOQUETE” in Chiriquí’s Province has become one of the most important real estate sales center of the country. Boquete is considered to be one of the best places to retire in the world, and therefore we can find multiple real estate projects, residential mountain homes and country states with amazing views.

Panama is the Latin American country with biggest economic growth of the past years.

Pacific Coast. The coastal line offers beachfront lots and residential beach areas such as: Chame, Coronado, Punta Barco, San Carlos, Gorgona, Playa Blanca, among others. Thanks to its commodities, Coronado stands out with one of the best professional golf courses of Latin America, restaurants , and also beach and equestrian clubs, it also offers a variety of houses and ocean view apartments. Another great real estate development sector is Playa Blanca where we can find casinos, pools, restaurants, bars, night and beach clubs and a significant offer of real estate and beach projects. Caribbean Coast. This sector is 2 hours away from Panama City and offers the possibility of buying in the renowned Colon’s Free Zone. Real estate in this sector is similar to the ones in the Pacific Coast. Provincia de Bocas Del Toro also stands out with spectacular ocean view properties. Many international real estate projects started in this area due to the fact that it is one of the most known tourist destinations in Panama, with awesome night life, restaurants and hotels. Among Boca Del Toro’s best areas are: Isla Colón, Bocas del Drago, Playa Rana Roja and Playa Larga, other islands that also stand out are: Isla Bastimentos, Isla Solarte, Isla Cristóbal, Isla Popa and Isla Zapatilla. Opening Bank Accounts Having a bank account in Panama allows you to receive and make payments, bank drafts and credit transfers to all parts of the world, whether they are in dollars or euros. Some banks with international headquarters allow foreigners to open accounts in Panama even if they have a tourist status. The process to open a bank account can take one or two weeks and procedures can be done abroad. Usually banks ask for information and references about the commercial and banking history of the interested party and in some cases, an interview with the Panamanian bank representative might be necessary. Once the request is accepted by the bank, deposits, withdrawals, credit transfers, investment orders, asking for checkbooks and credit cards, etc. can be done. Advertising valid for the Republic of Panama

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Panama

Escrow Agreement Plica’s Contract

By:

Morgan & Morgan Group

Escrow Agreement is a fiduciary relationship based in confidence. It involves the custody and safeguard of actives of any kind by the Escrow Agent, until a predefined condition takes over; in this case actives are transferred to the party that has the right over them. Escrow is usually used to close important transactions, mainly from the sale of real estates, ships and merge and acquisitions. It has become popular among internet transactions and it is recommended as a protection against fraud, especially in transactions where the seller and the buyer do not know each other. An Escrow Agent is an impartial third party, alien to the transaction chosen by both parties of the common agreement. It is important to negotiate the conditions under which the property is going to be transferred and stipulate which will be the proceedings that the Escrow Agent must follow under any circumstances.

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Conditions may vary from case to case, depending on the specific location of the parties, purpose of the transaction and type of payment. For example, buying a sofa online can be subject of a series of conditions: • Price agreement. • Quality agreement. • Paying the corresponding amount to the Escrow Agent. • Confirmation of funds receipt by the Agent. • Insurance hiring for the sofa. • Packing correctly and sending the sofa to the buyer. • Acknowledgment of receipt from the buyer and him being satisfied with sofa’s conditions. • The buyer agrees the purchase. • And finally the Escrow Agent pays the amount of the purchase to the seller.

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These conditions are included in the Escrow Agreement; once it is stablished the Escrow Agent must follow it up resulting a safe and comfortable transaction for both parties. Escrow in Real Estates For instance, real estates’ sale usually implies a period where property’s transfer is registered by the corresponding authority; meanwhile the owner or seller is not willing to transfer the title deed to the buyer, unless this one pays the selling price and on the other hand, the buyer is not willing to pay the selling price until the title deed is correctly registered. In this case the solution is to deliver the selling price to an impartial Agent Escrow with irrevocable instructions to transfer the cash to the buyer once there are proves that the title deed favors the buyer or returning the money to the buyer otherwise or other conditions agreed by both parties. An Escrow works as an insurance policy for the transaction, given each party a guarantee which states that the performance of the final obligation will be in hands of a third party to the transaction. An Escrow can also be stablished to guarantee that the expected result of a specific transaction that already took place, is as desired. For example, in the merging and acquisition is common that 10% of the selling price of a company is placed in Escrow for a year as a reserve against unforeseen credits, defective equipment, etc. Expenses are reduced from company’s price and will be paid by the Escrow Agent. Once the Escrow Agreement expires the remaining assets will be transferred to the seller. In legal terms Escrow is a contractual obligation subject to a suspensive or resolutive condition. When it is subjected to a suspensive condition, this condition must be accomplished so the obligation can be feasible. For example, the registration of a real estate title or deed is a suspensive condition that the Escrow Agent must clear before transferring the sale proceeds to the seller. On the other hand, the example above regarding mergers and acquisitions is evidence of a resolute condition when the expiration of a time period “deadline” binds the Escrow Agent Escrow to return the remaining actives to the seller. Escrow Agents commonly charge fees to establish the Escrow Agreement, based on the time invested, negotiation conditions, composition and execution of the Agreement itself, in addition to a small percentage of the monetary amount involved in the transaction.

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Panama

Panama´s Real Estate Investment Companies Special Income Tax Regime By:

KPMG Panama

Panama’s legislation describes Real Estate Investment Companies as any other legal person, trust or contractual agreement constituted according to the Republic’s laws. This legal entity can, through the issuance and sale of its participation shares, attract money from investors in order to invest and trade, whether directly or through subsidiaries. Investment managers cannot participate in regards to the indirect management of these types of companies. The “Superintendencia del Mercado de Valores de Panamá” is the authority that determines wich assets can be accountable for this regulation. Real Estate Investment Companies wishing to benefit from the special provisions written in paragraph 2, article 706 of the Tax Code must fulfill the following requirements:

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• Be registered and listed in Panama’s Stock Market (Superintendencia del Mercado de Valores de Panamá) and allow active valuation of its shares in stock markets or other markets registered in Panama´s Stock Market. • Collect funds in organized capital markets with the purpose of making investments in property development and administration of residential, retail or industrial projects within the Republic of Panama and exceeding a 5 year term. These should have an annual distribution policy of its shares to its shareholders, with no less than 90% of net income for every fiscal year. • Be registered under the National Revenue Authority (ANIP, acronym in Spanish). • Have a minimum of 5 investors during the first year of its inception; a minimum of 25 investors during the second year; and a minimum of 50 investors from the third year, whether natural or legal persons.

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• Issue payable participation of shares or fees. • Have, at all times, a minimal asset value of 5 million Balboas. Real Estate Investment Companies cannot be constituted by a banking entity, insurance company and/or re-insurance company. Administration and Control of Real Estate Investment Companies. • Public Corporation: Board of Directors. • Trusts: Fiduciaries with license given by Panama’s Superintendence of Banks. • Other Cases: Investment Company Administrators. In 1993, the application of the tax benefits given to Real Estate Investment Companies, was extended to those subsidiaries registered under the National Revenue Authority (ANIP, acronym for Autoridad Nacional de Ingresos Públicos). Distribution of Profits Real Estate Investment Companies must have a policy of profit distribution and effectively distribute to shareholders their actions or participation shares with no less than 90% of the tax period’s net utility, with exception of the following: • During the first 2 years, the Real Estate Investment Companies may: (a) distribute a percentage below the 90% above mentioned or (b) not make any distributions. • During any fiscal period in which, due to extraordinary macroeconomic situations, business performance, or development in which the Real Estate Investment Companies is involved, the administrator or authorized person does not consider it advisable to distribute the minimum indicated. Legal Basis: -Article 706, paragraph 2 of Fiscal Code. -Executive Decree No. 170, October 27th 1993, Article 122 from 122-A to 122-E. -114th Law, December 10th 2013. -Official Gazette No. 27.563, Executive Decree No. 199, June 23rd 2014.

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Panama

Real Estates Market

Industrial & Retail Boom By:

Danny Quirós Colliers International Panama

The development of important infrastructural projects, as well as the recent free market agreements with the United States, European Union and Canada, have contributed with the industrial real estate market growth in Panama. Investors and real estate developers motivation has been driven by the growth of the logistic industry thanks to the expansion of the Panama Canal and Tocumen’s Airport; also, the economic boom that this country shows, causes an increment in the demand for required spaces, mainly for storage and distribution of local consumer goods. By the second half of 2014, this market remained in a expansion stage according to the real estates’ cycle. Real Estate offer achieved growing rates of almost 15% during last year and currently exists an enormous amount of construction and projects in conceptualization.

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Availability has substantially increased benefiting directly the tenants at the negotiation of the price an lease conditions; slowing the decision making and therefore the space takeover. However real estates’ demand has a slow reactivation due to the current political scene and the possible positive changes that it may create, also corporations have certain expectations to new alternatives offered by recent complexes. Finally it is important to emphasize that in order to keep the logistic activities growing, it is necessary to improve the coordination between the public and private sectors in the development of infrastructural projects, and also improve the connectivity between the harbor systems and the transport networks.

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Panama

SKY POINT TOWERS

Apartments From 775 up to 1,184 sqft 1 to 3 bedrooms Estimated Date: 2017 Panama City - Panama Altos de Miraflores Development Code: 14085

Contact: Pacific Hills

www.pacifichills.com.pa ventas@pacifichills.com.pa Phone: +507 321.01.11 392.77.91 Amenities: Terrace, gardens, party hall, gym, pool for adults and kids, covered terrace, sun deck and gazebo.

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Sky Point Towers is a residential project thought for those who wish to live in a well located and affordable place with all the facilities that modern families demand. The complex has three apartment towers, all of them with areas that will fulfill your highest expectations. A well-equipped social area that will have all the facilities you and your family need. Sky Point Towers will have recreational and relaxation areas distributed along the project. It will also have gardens, terraces and paths in an common area that communicates the three towers and also each tower will have independent social areas with all the commodities you may think of. Apartments thought to please its residents with an excellent distribution and ample areas with natural ventilation and illumination. Located in one of the highest residential areas of Panama, Altos de Miraflores Development, Sky Point Towers has a panoramic view of 360Â°. Located near the Universidad Latina de PanamĂĄ and diagonal to Santa Maria La Antigua University, just 200mts from Condado del Rey Development.

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Panama

Contact: Procasa

Republic of Panama – Panama 42nd Street, Tower Aquazul, First Floor Bella Vista. www.procasapanama.com ventas@procasapanama.com Phone: +507 209.22.22

FOREST GATE

Apartments From 1,625 to 2,088 sqft 3 bedrooms Republic of Panama – Panama Allbrook Code: 14086 Located in Allbrook, a residential area by excellence, these buildings are surrounded by nature and just a few steps away from malls, schools and sports areas. Eight floors buildings of two apartments by floor, 3 rooms plus service room withbathroom, and two parking spots. Social area with pool, party hall and it will also have the Residence Club where you will be able to enjoy a tennis court, equipped gym, sauna, and others.

GREEN PARK

Apartments From 67m2 to 126m2 3 bedrooms Republic of Panama – Panama Condado del Rey Code: 14087 Located in a fast growing residential area, it is very close to shops, universities and has an easy access to important means of communication. It is a closed development with guardhouse, where you can enjoy a main and central park with multipurpose courts, children parks and a social area with pools, gazebos and BBQ area. These apartments have 3 rooms and 2 bathrooms.

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Panama

DAL MARE

Apartments From 2,400sqft 3 bedrooms Republic of Panama – Panama Cincuentenario Road www.dalmarepanama.com Code: 14088 Located in the historical neighborhood Coco del Mar, this spectacular building has 33 floors and only 56 apartments of 2,400 sqft with amazing ocean views, three bedrooms with a bathroom each, plus a visitors bathroom, dinning room and family room, terraces and two parking spots. It also has a common area with equipped gym, party hall, and sauna, among others.

PLAYA DEL SOL

Apartments From 1,000sqft 2 to 3 bedrooms Republic of Panama - Panama San Carlos. 100-101 Km. Code: 14089 Located along San Carlos’ 100 and 101 kilometer, Playa del Sol is a private community with guardhouse and many amenities such as square Plaza del Sol, sports courts and beachfront club with multi-level pool. Buildings will have between 5 and 7 floors. Each apartment will also have between two or three bedrooms, and there will be social areas through the entire project.

MEI

Apartments From 1,560sqft to 1,603sqft 3 bedrooms Republic of Panama – Panama Villa de las Fuentes. Code: 14090 Located in one of the most centric areas of the city, it is a few steps away from malls. This building has 30 floors and 4 apartments from three to four rooms per floor each apartment also has a dining room, balcony and two parking lots. It offers amazing views of the city or the mountains, it has a social area is of 19,000 sqft social area where you can find a pool, gym and a Jacuzzi, among others.

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Panama

BALBOA OFFICE CENTER Offices From 534 to 13,831 sqft Estimated Date: 2015 Balboa Avenue – Panama City Code: 14092

Contact: Interplus

info@balboaofficecenter.com www.balboaofficecenter.com Phone: +507 235.45.47 Cell: +507 6064.54.20 Offices from 534sqft 1 bathroom and 1 parking lot Imposing project located in Balboa Avenue, with offices from 534sqft up to entire floors of 13,80 sqft. Balboa office center will have 43 constructed flats distributed as follows: • 12 parking floors. • 2 retail floors. • 27 office floors. • 2 floors for the building´s services Common Areas • Majestic double height lobby. • Food Court. • 7 high technology elevators. • 24/7 security. • Security office with closed circuit monitors. • Fire Prevention system with sprinklers in common areas. • 4 emergency power plants. • Double security glass façade. • Cistern. • Parking lots for visitors.

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PH CASCO VIEW

Apartments From 484 to 645 sqft Estimated Date: 2016 Panama City - Panama 16th West Street, Santa Ana, Casco Antiguo Code: 14093

Contact: BASIS International, LLC

www.cascoview.com www.facebook.com/phcascoview www.basisinternational.com brian@basisinternational.com Phone: +507 260.69.36 Cell: +507 6997.28.38 Ph Casco View is an original offer located on the Casco Viejo area. In its common areas you will be able to relax and enjoy of its wonderful panoramic city views that include Amador, Cerro Ancón, Panama Canal and Casco Antiguo. It also has near access to public transportation and 5 de Mayo Metro de Plaza metro station. Our project is an important housing offer that perfectly fits a modern lifestyle in our new Panama City. Nationals and foreigners will be able to live in a centric area with affordable prices. BASIS International focused on executing a green development, taking care of the environment while improving your quality of life.

Features:

• Few steps away from Casco Viejo and the parks located at Cinta Costera 3. • Retail area in the first floor and mezzanine. • Underground available parking lots. • Two social areas with panoramic views.

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Panama

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Panama

PH ASTORIA

Apartments From 2,088 to 4,736 sqft 2 - 3 bedrooms Immediate Delivery Panama – Panama Republic El Cangrejo, Enrique Geinzer Street Code: 14094

Contact: Global Alliances Group

www.globalalliancesgroup.com ventasgerenciaglobal@gmail.com Phone: +507 214.80.00 Cell: +507 6900.32.05 6675.74.37 Apartments from 2 to 3 bedrooms Each bedroom has a bathroom Visitors’ bathroom Additional Service bedroom with bathroom 2 parking spots per owner Common Areas • 2 Party Halls with terrace • Entertainment area • BBQ • Squash Court • Totally equipped gym • Kids and adults pool • Jacuzzi • Playground area • Elegant lobby • Guardhouse • Surveillance recording cameras Astoria. Home Warmth Ph Astoria is located in El Cangrejo a quiet and centric area with easy access to main roads. El Cangrejo is located in Bella Vista’s township. The Project has a modern and classy personality combining nature and art in each of its details.

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Panama

LAS ISLAS

PRICE: Concasa Developer is always looking forward to its clients’ needs, therefore its offers high quality homes with unbeatable prices. Currently we have over fifteen thousand families that are the best witness of our impeccable quality at the best price. In the Islands we have the best price for square meter in the market.

Contact: Concasa

LOCATION: Punta Barco is one of the most exclusive beach areas of Panama. Its abundant nature allows us to offer recreational, sportive and relaxing activities. The Islands has an excellent access just six hundred meters away from Interamericana Highway and two kilometers away from Coronado; where you will be able to find shops, supermarkets, restaurants, hospitals, schools, and banks, among others. In addition we are located in the recently asphalted road to Teta beach.

Apartments: 914 sqft Houses: 2,368 sqft 2 - 3 bedrooms Estimated Date: 2015 Punta Barco - Panama Republic Code: 14095

www.concasa.com ventas@concasa.com Phone: +507 203.82.46 203.82.47

THE ISLANDS – Design, price and location The Islands is a vacational residences project located in Punta Barco, approximately an hour away from Panama City. This project stands out for its impeccable design, unbeatable price and excellent location. The Islands is built by Concasa, an enterprise with over 20 years and more than 15.000 homes built as a sign of its experience in development, promotion and real estates’ sales area. Currently the company has operations in Panama, Costa Rica, Venezuela, and shortly in Dominican Republic too. DESIGN: The Islands were carefully designed to share in family aas well as vacations’ enjoyment. The complex wishes to blens the area’s nature into the landscape of the project, acheiving a clean, modern and elegant design. The project has a Clubhouse with a party hall, bar area, semi-Olympic pool, kids’ pool, saunas, gym, tennis court, yoga room and playground. The first stage of the project called CARENERO will be soon completed. In this stage we have 80 apartments organized in 4 buildings of 5 floors each. Each apartment has an area of 914 sqft, two bedrooms, two bathrooms, living room, dining room, kitchen and terrace. For December 2015 we will deliver the second stage: VILLA IGUANA; 27 homes of 2,150sqft with three bedrooms, two bathrooms and an additional half bathroom, living room, dining room, kitchen and yard. Besides, each of the stages will have its own social areas such as pools, huts with BBQ, bathrooms, gardens and playgrounds.

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PANORAMA

Apartments From 2,066 to 3,735 sqft 2 - 3 bedrooms Estimated Date: 2016 Coco del Mar – Panama City Cincuentenario Avenue with Andrés Mojica Street Code: 14096

Contact: Urbe Arval Developers

www.urbepanorama.com www.arvaldevelopers.com ventas@arvaldevelopers.com Phone: +507 399.45.25 399.45.29 Amenities • Gym • Indoor and outdoor areas for children • Pool • Kids’ pool • Jacuzzi • Party Hall • Pool Deck • Two high speed elevators • Complete emergency power plant • Cistern • Emergency stairs • 24 hours security Panorama is a new project that will be located in one of the most exclusive areas in Panama City: Coco del Mar. It will have 40 apartments from 2,066 sqft, two per floor, and 15 penthouses of 3,735 sqft, one penthouse per floor.

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DESCUBRE UN NUEVO HORIZONTE LUJOSOS APARTAMENTOS DESDE 192 m2 HASTA 347 m2 UBICADOS EN LA EXCLUSIVA ÁREA DE COCO DEL MAR

Descubre un Nuevo Horizonte

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United States

FLORIDA By: María Joaquina Rodríguez Florida is one of the 50 states that form the United States of America; it is located in the southeastern region of the country. It has a total area of approximately 65.755 sq. mi. (170.304 km2 ) and it is bordered on the north by Alabama and Georgia, on the east by the Atlantic Ocean and on the west by the Gulf of Mexico. According to the United Stated Census Bureau, Florida has an estimated population of 19.552.860 inhabitants and up until 2013 it was the fourth most populated state of the United States after New York. The most promising categories of Florida’s economy are: tourism, construction, real estates and finances. Florida’s capital is Tallahassee and its largest city is Jacksonville. However the most populated city is Miami with more than 5.8 million inhabitants in its metropolitan area. Miami is located in the southeastern region of Florida between Biscayne Bay on the east and Florida’s Everglades on the west, which gives it pleasant weather throughout the year. Miami is known as a global city, with – important focus on finances, trading, media, entertainment, arts and international commerce; it is also known for being a multicultural city shaped by people that have arrived from all over the world, mainly Hispanic immigrants. Currency / Equivalence in Dollars Florida’s and US’ official currency is the American Dollar. Bill denominations are 1, 2, 5, 10, 20, 50 and 100 dollars and coins are 1, 5, 10, 25, 50 cents and 1 dollar. Most Important Cities Miami, as the whole Metropolitan Area is called, is actually a conglomerate of cities that shape the Big Metropolis, of which Miami is its center and it’s bordered by very important cities such as: Coral Gables. Known as the “City Beautiful” and designated as “Tree City” of the United States for 23 consecutive years. 86

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Doral This city has become the home of a representative amount of Venezuelans and it has been considered as the third best state to retire, live and work. Downtown and Brickell. These areas have shown the fastest growth in Miami. They also are the main financial and trading districts of the city. Florida Keys. Wide union of islands, cays and reefs south of Miami, the most recognized ones are: Key Largo, Islamorada, Marathon, Big Pine Key and Key West. Fort Lauderdale. Located at 23 miles north of Miami and known as the “Venice of America”, given its great amount of water channels and privileged beauty. Hollywood, Fl. Beautiful beach city located north of Miami and known for its Las Olas Boulevard surrounded by stores, restaurants, bars and night clubs. Orlando. Located 5 hours from Miami by car, it is a favorite destinations of kids and adults alike, thanks to its theme parks such as Walt Disney World, Universal Studios, Island of Adventure and Sea World, among others. Benefits of Investing in Miami Miami is an important market for foreign investment and a favorite of Latin-American investors. It is the headquarters of almost 1,200 multinational enterprises from 56 nations. It has the biggest concentration of international banks from all over U.S. Miami’s unemployment rates are below national average and the residential market is on an increase. Miami was the first city to recover from the 2008 financial crisis and it has shown 3 years of continuous sales growth. It offers a variety of international schools and universities of worldwide prestige and 33 internationally recognized hospitals. Miami is on the top 10 most desired cities to live in the U.S. for those who want to have a family and retire given its high standard of living Miami is one of the United States’ most important tourist destinations: 9.3 miles of worldwide recognized beaches, malls and a big variety of cultural choices, bring in more than 14 million visitors per year. Also Miami stands out for the financial accessibilities available to foreigners; its banks grant credit with funding of up to 70 % of the property

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United States

value and mortgage loans up to 30 years with very good interest rates. Property taxes are also attractive in Miami, with rates ranging from 1.8 to 2 % annually calculated on the value of the property. The real estate options that Miami offers are impressive, and, depending on the type and area of investment, it will provide an attractive return. Most Attractive Places to Buy Properties Currently, there are more than 188 new condominium projects in Miami, of which 55 have already broken ground, 7 of them have already been completes in the first months of this year, 60 have not started yet and 66 are currently waiting permitting. Real estate development of this big metropolis is very dynamic, and many important areas such as Miami Beach, Brickell/Downtown, Aventura, Doral and Hollywood Beach have greatly benefitted by the boom in condominium construction. Miami Beach – South Beach. Miami Beach is located between Biscayne Bay and the Atlantic Ocean. The area known as South Beach comprises 23 blocks located in the southern end of Miami Beach. Currently, South Beach is considered to be one of the best and most beautiful places in the world. On the other hand, Miami Beach has also attracted many investors from Latin America who have decided to buy real estate there. Internationally, it is known as one of the most important destinations on the planet and is famous for its beautiful beaches, night life, restaurants, stores and well-known streets such as Lincoln Road, Ocean Drive, among others. Pre-constructions in Miami Beach include Faena House, Peloro, The Ritz-Carlton Residences, Iris on the Bay. In South Beach, you will find: Marea South Beach, Beach House 8, 321 Ocean and Glass. Brickell. Located very close to downtown, Brickell has become one of the most exclusive Bayfront areas in Miami. Brickell is the biggest business district of Miami. Brickell Bay Drive and Miami Avenue, located respectively at the east and the west of Brickell Avenue, accommodate big residential towers that offer beautiful

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views to Biscayne Bay and the whole city. This area is the favorite destination for single men, women and executives, given it’s a perfect place to work, live and eat. Brickell has a large inventory of condos for sale and it is a district that stands out for offering a wide range of biobuildings or efficient buildings with LEED (Leadership in Energy and Environmental Design) certificates. Pre-constructions in Brickell include: 1010 Brickell, Bond Brickell, Brickell City Centre, Brickell Flatiron, Brickell Heights, Brickell House, Brickell Ten, Echo Brickell, Le Parc at Brickell, Millecento, NINE Mary Brickell Village, SLS Brickell and SLS Lux. Aventura. Aventura has turned out to be one of the most visited places by new investors since it became a city in 1995. It is located on (US 1) Biscayne Boulevard, close to the Atlantic Ocean and minutes away from Miami Beach, South Beach and Sunny Isles Beach. Aventura has a lot of variety in restaurants, boutiques, outdoors cafés and night clubs. Aventura Mall, one of the biggest malls in Florida with over a 200 well-known specialty stores and renowned retail chains located in the heart of the city. Pre-constructions in Aventura include: Echo Aventura, Marina Palms and Prive Island. Doral. Located within the northern and southern boundaries of Miami, and in the middle of two of the biggest highways in Miami, The Turnpike and Palmetto Expressways, Doral encompasses many great qualities. As a city, it is one of the most desirable in the United States. Recently “Zoomprospector” classified Doral as the “The Second Best City” to live in the US. It is one of the most attractive areas for foreigners. In Doral, there is no land currently available for development. The area is fully comprised of pending development projects. Therefore, anyone wishing to invest in a property in this area, must take advantage of current opportunities, given that in the future there will only be a secondary housing market. Another factor that has contributed to the revalorization of this area is the large investment destined

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for important projects such as a tourist golf complex, the Trump National Doral, and real estate developments such as Midtown Doral and Oasis Park Square. Hollywood Beach. Currently, Hollywood Beach is one of the biggest centers of attraction for important investors who wish to invest their money in safe transactions. According to the economic development report from Hollywood City, last year’s real estate market provided a 50% economic increase for real estate projects, generating incomes of over 20% in building permitting compared to last year. Those companies wishing to promote investment in the area highlight the breathtaking, and widely recognized Hollywood Beach, the relaxed lifestyle and the tax bases offered.

of this area is the fact that it is the home of one of the most ambitious real estate developments in the history of the State of Florida: the Trump Grande Ocean Resort & Residences. Pre-constructions in Sunny Isles Beach include: Chateau Beach, Regalia, The Mansions at Acqualina, Porsche Design Tower, Parque Towers, 400 Sunny Isles and Jade Signature.

Pre-constructions in Hollywood Beach include: H3, Sage Beach and Costa Hollywood. Surfside. Although very close to Miami Beach, the small enclave of Surfside soothes and invites tourists to share in its familial environment. Its main avenue with its quaint stores, small pharmacies, soda shops and small outdoors bistros is reminiscent of a 1950’s French Riviera. Pre-constructions in Surfside include: Chateau Ocean, Ocean Seven and Surf Club. Coral Gables. Coral Gables is considered to be one of the most gorgeous places in Miami. This area represents a big interest for the real estate market given the increased activity from national and international real estate buyers in Miami, the limited offer and the growing demand in the urban center of the city that already has a 95% rate of occupation. International real estate ventures are investing in the development of new projects and large conglomerates are renting the limited commercial spaces. Over 140 multinational companies find this area very attractive because of its central location: it is only a few minutes away from Miami International Airport and it is very close to multiple choices for executive accommodations such as Merrick Manor, a 10 floor building, housing 180 one-to-three bedroom units, located close to the Village of Merrick Park, a mixed-use locale highlighting renowned restaurants and shops. Sunny Isles Beach. Also known as Florida’s Riviera, Sunny Isles Beach is located on an island on the northeastern boundary of Miami-Dade County with the Atlantic Ocean on the east and with the Intracoastal Waterway on the west, halfway between Miami and Fort Lauderdale, and its location is very attractive for real estate investors that want a property on the beach shore. Collins Avenue, on the eastern side of Sunny Isles Beach is having an important reconstruction renaissance: this main thoroughfare has gone from being a traditional vacation area to a luxury residential area. This new residential area has a golf camp, tennis courts along with its white sand beaches. You can also find many new restaurants running the gamut of taste and styles On the west side of Collins Avenue, the City Hall is building parks, making infrastructural improvements and setting the groundwork for future redesigning of the area. Another attraction

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Buying Real Estate with Mortgage Credit By: María Joaquina Rodríguez Buying a property in Miami through a mortgage credit for foreigners is a very easy process with no more complications than the usual ones for operations of this kind. In order to obtain financial approval, all banks require proof of economic solvency in the country of origin. Banks such as Banesco, Commerce Bank, Eastern National Bank, First Bank Florida, Gibraltar Private Bank, HSBC Bank, BAC Florida Bank, Helm Bank, and Total Bank are a few of the ones that grant mortgage credit for foreigners. The minimum amount is U.S. $100.000 and financing terms can be up to 30 years.

• Proof of existence of the company where employed or of company owned (Company Registration Document, website, business cards, etc.). • Bank reference letter of the accounts that have been active for more than a year. • Last three bank statements from the bank where the money will be transferred from. • Personal balance statement signed by a certified public accountant and a copy of his professional license. • Proof of the legal origin of the funds that will be used throughout the related transaction.

Pre-construction properties in Miami are usually delivered “Decorator Ready”, which means that they already have electrical appliances, kitchens and bathrooms ready, but lacking floor finishes in the rest of the property, which will be chosen and paid for the buyer. From the time of the reservation of the property and the signing of the presales contract, your deposit money will be placed in an escrow account, which is not allocated until the contract is signed by both parties. During this period, it is possible to rescind the purchase, generally without sanctions. Steps to obtain a mortgage credit: Prequalification. The first step when buying a property through mortgage credit is to ask for a prequalification from a bank offering international financial programs. After analyzing your economic profile, the bank will tell you the amount of the loan that you are qualified for and the costs of the transaction. Property Selection. The next step after receiving your prequalification, is to search for a property. Some buyers prefer to see multiple properties before making a decision, so they can have several choices when being financed. Credit Request. Once the property has been chosen, the request for loan application and all the documents required must be made through the banking institution. Commonly requested documents in order to apply for a mortgage credit in Miami are: • Passport copy with current American visa. • Personal reference, commercial and credit letters (can be sent in Spanish). • Utility receipts showing current residency in the country of origin. • Employment verification letter, if buyer is working or, if self-employed, an income certification letter signed by a certified public accountant. 90

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Money that must be available in your account (in dollars) when applying for a credit: • Down payment - typically between 30% and 40% of the property value. • An amount equal to the sum of at least three monthly mortgage fees. • Some banks ask for the equivalent of twelve (12) monthly mortgage finance fees plus twelve (12) months’ worth of administrative and condo expenses. This money is placed in Certificate of Deposit with interest and is locked in to ensure inherent obligations. • Closing Costs: equivalent to 5% of the property’s value. Genrally the time lap between the signing of the contract to the closing, takes about 30 to 45 days. In the event that the person wants to buy a preconstruction property, payment instructions for preconstruction projects are usually as follows: • 10% of the purchase price is initially given to reserve the property and freeze the price. • Between 10% and 20% is given at the time the sales contract is signed. • An additional 20% is given at the beginning of the construction. • An additional 10% during construction • The remaining 50% is usually paid after two (2) years from the reservation payment.

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Maintenance and Property Administration If the buyer lives outside of the U.S. and is planning on renting out his property, he or she could need a real estate or management company to find a tenant and manage it, which usually costs around 10% of the monthly rent payment. Besides the financial mortgage fee payment, there are other monthly payments related to the possession of a property such as: • Real Estates taxes that are usually paid along mortgage payment, or can be paid separately on an annual basis. • Condominium expenses. • Life insurance of the property owner. • Insurances that protect the structures from fires, earthquakes or other disasters

The first step when buying a property through mortgage credit is to ask for the prequalification of a bank with international finance programs.

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Brickell,

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South Florida´s Manhattan By:

Olga Da Neves. Equity International Group.

Impressive skyscrapers, luxury residential condominiums, new constructions, numerous hotels, night life, traffic and executives walking from one high rise to another, are all a part of the snapshot that Brickell offers its residents and those who visit it for the first time. The Manhattan of South Florida, also known as Brickell, has become the financial district of the city of Miami, given its amount of banks and official buildings like embassies and consulates that are installed in the area, specifically alongside Brickell Avenue. Brickell is bordered on the north by the Miami River, on the east by Biscayne Bay, on the south by the SE 32nd Road and on the west by the I-95 Interstate highway. To this area we should also include the exclusive Brickell Key, known for its luxury apartments with ocean view and joined to the city by only a bridge. The origin of this area begins in 1870, when William and Mary Brickell from Cleveland moved to the south bank of the Miami River and began construction on what is now known as Brickell. After her husband’s death in 1911, Mary (who had obtained one of the firsts real estate agent licenses in Miami) decided to finance the construction of the avenue that carries her name: Brickell Avenue, and the edification of several mansions along this avenue giving birth to the famous “Millionaire’s Row”. In 1970, and given the proximity to Miami’s downtown, all the mansions started to be replaced by office towers, hotels and apartments. In the late 90’s the construction of several commercial and residential buildings changed the look of this area forever and by 2006, only one of the mansions built in 1910 remained standing. Brickell has been established as the financial district of Miami; in fact, it has the biggest concentration of international banks in America. Recently, the real estate boom that this area has experienced accelerated the construction of numerous residential condominiums. Thus, the northern area is characterized for having several financial and office spaces, while the southern area has around 8,000 residential properties, divided between exclusive luxury buildings and single family houses.

of the numerous job and business opportunities offered, but also because of the easy access to restaurants, hotels and night life. By the year 2010, Brickell had become one of the districts with the biggest demographic density in the United States, constituted mainly by Hispanics (62%). Among the Hispanic groups that currently live in the area, the most predominant nationalities are Argentinian, Colombian, Cuban and Venezuelan, all with high purchasing power. Certainly Brickell became a highly attractive area thanks to the fact that it has the highest buildings in Florida, such as: The Four Seasons Hotel (793 ft.), Jade Residences (528 ft. ), Santa María (521), Espirito Santo Plaza (485 ft.), Brickell on the River - North Tower (482 ft.), Three Tequesta Point (479 ft.), 701 Brickell (449 ft.), Barclays Financial Center (429 ft.), Brickell View (423 ft.), The Mark on Brickell (419 ft.) and Brickell Bay Plaza (410 ft.). We must also point out that as of October’s 1st 2003, the Four Seasons Hotel became the highest building in the state of Florida with a height of 793 feet. Brickell is not only the home of financial institutions, it also has most of the popular restaurants in Miami, shops and entertainment places. Hence, Mary Brickell Village, found in the heart of Brickell, an open mall with restaurant and shops that take up two blocks and has become a popular place to enjoy the night life. Brickell residents and tourists can easily walk through Miami Avenue and enjoy the exquisite gastronomy of all of its restaurants and the nonstop energy of its nightclubs. Brickell residents also have smaller roads that lead to the bay with outdoor markets that allow them to buy all kinds of food, native plants from Florida and jewelry. An interconnected public transportation system, such as Metrorail and Metromover allows them to travel within the district or go to downtown, especially on rainy or very sunny days. There is no doubt that Brickell has become an excellent hybrid between a financial center and residential development which allows its residents to enjoy a great quality of life while having access to the best services and entertainments of a big city.

Traditionally, Brickell residents have been families with few children or single people that have an attraction for skyscrapers and glamorous apartments with ocean view. However, as time passes, more and more young professionals are moving into the area not only because

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TRUMP INTERNATIONAL REAL ESTATE THE MOST RECOGNIZED NAME IN REAL ESTATE WORLDWIDE Now offers distinguished, full-service brokerage to international and local clients who are seeking to purchase or sell luxury homes and condominiums throughout South Florida. Headquartered in New York City, Trump International Realty’s Florida operations are located at Trump National Doral in Miami where premier brokers manage property sales and purchases in Miami Beach, Coral Gables, Key Biscayne, Bal Harbour, Coconut Grove, ft Lauderdale, Jupiter and beyond. Experience the same superior service, market expertise, and attention to detail that has made TRUMP the most recognized brand in real estate. The firm specializes in guiding local and international buyers and investors through all phases of real estate purchasing, owning and reselling. Managing Broker Olimpia Zanardi is well-respected in South Florida during her 30 years real estate career. Starting at Coconut Grove Realty, Wimbish Riteway Realtors and Coldwell Banker, where Zanardi was an award winning Associate Broker.

At Trump International Realty Zanardi is bringing in accomplished agents seeking to take their careers to another level under her watch. The new team members complement a strong existing group of professionals in Miami and Manhattan. “Real estate is my love and my passion,” says Zanardi. “Having the most educated, professional and producing agents is my goal.” Our Miami office located in Doral is comprised of experienced & professional multi- lingual agents. For more information on the services we offer contact our Florida managing broker, Olimpia Zanardi at Lily. zanardi@trumpic.com

@TrumpIntRealty Trump International Realty +1 305.392.4945

Trump International Realty Brokerage Office Trump National Doral Miami

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IMMIGRATION SOLUTIONS EB-5 Green Card Program The EB-5 Immigrant Investor Visa Program offers you and your family an expedited way to obtain a United States permanent residency (Green Card). This process involves investing $500,000 USD in a government-approved project in which an investor can either create and manage their own company and hire 10 employees or invest in a Regional Center project that will create the jobs on behalf of the investor in a simple streamlined process. Generally, new construction real estate projects are common successful EB-5 projects as well as infrastructure, hospitals, hotels, and assisted living facilities.

The main benefits and reasons to have a EB-5 Visa, are:

The EB-5 program has two stages: the first is the I-526 petition, where the individual clarifies the legal origin of their funds as well as other documentation about the investor and their family. Upon approval of this first stage, an investor obtains a conditional permanent residency (Green Card) for two years. During the period of conditional residence, investors and their families can live, study, retire, or work freely in the United States with the same benefits as other lawful permanent residents.

Rahbaran & Associates has a success rate of 100% in EB-5 petitions, are leaders in the industry, and in 2013 they were voted as one of the TOP 25 EB-5 law firms.

After the two years of granted conditional residence, the I-829 (removal of conditions) petition is submitted. Once the request is approved, the investor and their family members accompanying him/her will become lawful permanent residents and may be suitable for a United States citizenship within three (3) years (five years total of being permanent residents).

You and your family can travel to the United States more without restrictions Personal security and quality of life Business Opportunities Access to the best schools and medical care in the world Benefits of Working with Rahbaran & Associates

The lead attorney for the firm is a faculty member of the American Immigration Lawyers Association, the New York Bar Association, and the District of Columbia Bar Association Rahbaran & Associates provide comprehensive immigration advice to individuals and multinational companies. They keep update-to-date with the legislative developments and the understand the legal, political and business contexts that can affect their clientsâ&#x20AC;&#x2122; cases. Rahbaran & Associates delivers customized solutions to businesses and individuals through their offices in Washington D.C. and Miami, Florida.

EB-5 Important Facts. As of today, with a minimum of $500,000 USD, you and your family can be living in the United States with a permanent residency within 12-18 months after applying. Generally and depending on the project, the investorâ&#x20AC;&#x2122;s funds will be returned to them within five (5) years or more.

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@EB5news Rahbaran & Associates +1 (305) 224.1900

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United States While multigenerational vacationers have been coming to Orlando for decades, they’ve grown tired of staying in cramped hotel rooms separated from their family members. As a result, they began a quest for accommodations that allow them to stay under one roof, after having traveled from many destinations to be together.

ENCORE RESORT HOMES

Houses From 2,500 to 5,800 Sq.Ft. From 5 to 13 Bedrooms Estimated Date: Winter 2015

7715 Heritage Crossing Way Reunion, Orlando, FL 34747

Code: 14106

Contact

Offering vacation homes with up to 13 bedrooms, the Encore Club at Reunion provides several families traveling together the unique opportunity to stay together. Spanning more than 300 acres, the Encore Club at Reunion shares property with the award-winning Reunion Resort. Located just minutes from the world’s most popular family-themed attractions and activities, Reunion Resort is the only resort in the world to feature championship golf courses designed by three of the biggest names in golf.

Encore Residences & Resorts www.theencoreclub.com info@theencoreclub.com Phone: +1 (407) 396.9000

Reunion Resort features a multi-million dollar water park and an array of swimming pools situated throughout the community, tennis facilities, a luxurious spa and variety of restaurants.

Amenities

According to James Schumaker, Executive Vice President of Global Sales & Marketing for the Encore Housing Opportunity Funds, the Encore Club at Reunion provides extended families with a true ‘homeawayfrom-home’ while vacationing in Central Florida.

• Club pool with sloped, beach-like entry & cabanas • Aqua waterpark with long, twisting water slides and splash pool • Clubhouse with guest check-in, restaurant, bar and lounge and fitness center • Grand lawn and play area • Basketball and tennis courts • Beach volleyball court • Children’s playground

Coming to life in a former orange grove just minutes from the world’s premier family attractions, the Encore Club at Reunion offers visitors to Central Florida a refreshing respite from the hectic days spent traversing the area’s myriad theme parks. Long one of the most popular destinations for vacationers from around the world, the Orlando area is home to more than 20 major theme parks and water parks and offers an array of family activities unrivaled anywhere on earth. Last year, 62 million people from every corner of the world visited Orlando, an all-time record. 98

“We cater to affluent buyers who want to purchase residences from between five and 13 bedrooms so they can bring extended family and friends together while visiting the Orlando area,” said Schumaker. “Residences at the Encore Club at Reunion also have bonus luxuries in larger units which include two dishwashers and two refrigerators, two washers and dryers, making it easy for homeowners and guests to enjoy large communal gatherings under one roof and have the luxury of functional space, something hotels simply can’t supply.” The Encore Club at Reunion will also offer amenities exclusively for its homeowners and rental guests including a 15,000 square-foot, three-story clubhouse, featuring indoor and outdoor restaurants, bar and lounge, kids club and fitness center. The magnificent clubhouse will be surrounded by the Aqua Park, a oneof-a-kind water park complete with long, twisting water slides, splash pool, club pool with a beach sloped-like entry, children’s playground and beach volleyball and basketball courts.

A big part of any community’s success lies squarely with the company bringing that community to life. Encore Residences & Resorts has developed some of the finest communities in Florida and beyond and they are bringing their considerable expertise to the Encore Club at Reunion. What makes Encore Residences & Resorts, and the Encore Club at Reunion, so unique is the professionalism and expertise they bring to the home buying and home ownership experience. Simply put, Encore has hired the best in the business to manage the entire process for its homeowners. From interior design to home construction to rental management, and every other professional that touches the community, Encore Residences & Resorts has brought top-quality talent in at every level throughout the process at the Encore Club. “We follow the highest standards of design and construction and communicate clearly with our homeowners during the course of the homebuilding process,” said Jim Bagley, Managing Director, Encore Residences & Resorts. “It’s all part of our goal to provide a stress-free experience for those purchasing homes at the Encore Club.” The Encore Club at Reunion provides the best of everything for its homeowners. And by making the process of selecting and buying a home as easy as possible, the only thing homeowners will need to think about is when they will make time to come to Orlando and create wonderful memories with family and friends.

“What our homeowners find most appealing is the ability to relax in the comfort of a beautiful private home after spending a full day enjoying all that Orlando’s theme parks have to offer,” said Schumaker. “Children can swim in their own private pool and adults can unwind with a glass of wine while sharing memories made that very day.” But there’s more to a community than simply location or what it offers its homeowners.

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BELLINI

Luxury Condominiums From 2,235 to 2,608 sq.ft. Up to 3 bedrooms Completed in 2013 4100 Williams Island Blvd. Aventura, Florida. Code: 14104

Contact EWM Realty International www.belliniwilliamsisland.com

e-mail: bellini@ewm.com Phone: +1 305.466.6808

Amenities

• 24/7 Front Desk, Private Security Staff, Concierge & Valet Parking • Computerized Access Control with Closed Circuit Monitoring • Elegant Entrance with Porte- Cochere and Two-Story Lobby • Private Elevator Entry for each Residence • Media Room / News Lounge • Kids’ Game Room and Lounge • State-of-the-art Fitness Center • Beautifully landscaped sundeck with resort-style pool, spa and a large cabana area. • Private Gated Community • Williams Island Resort-Style Club and Spa • 27,000 SF Fitness Center • 16-Court Tennis Complex • Olympic Size Pool • Children’s Playground • Synagogue • Island Club Restaurant • Poolside Café • Private Yacht Club and Marina • Dockmaster Facility • 106 slips hosting yachts/ boats up to 160 feet in length • Shuttle Service To and From Shopping and Amenities on the Island • Walking Trails • Williams Island Country Club • Kids’ Camps, Activities & Events

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Rising 25 stories, Bellini is distinguished by its intimate feel offset by its chic contemporary design. There are only 70 residences total and four residences per floor, each accessed by private elevator. The two-story lobby is accessed via a grand porte cochere. Round-theclock security, concierge and valet are complemented by computerized access control with closed circuit monitoring. Bellini’s amenities also include a superlative fitness center featuring private men’s and women’s locker rooms and sauna; a media room and kid’s game room; and a beautifully landscaped sundeck with resort-style pool and spa and cabana area overlooking the private Williams Island Marina, accommodating yachts up to 160 feet.

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Bellini is the only new building to be completed in the past 10 years on Williams Island, known as the Florida Riviera for its exclusivity and amenityrich lifestyle. In addition to the bevy of amenities that Bellini offers, all residents receive access to membership at the exclusive Williams Island Club, featuring a newly renovated 27,000 square foot state-of-the-art fitness center and luxury spa with restaurants, 16 tennis courts, indoor and outdoor pools, and children’s playground. Occupying the last parcel of residential land on Williams Island, Bellini is one of eight residential towers and the only one developed by Martin Z. Margulies. The private gated community of Williams Island is located in prestigious city of Aventura, renowned for the Aventura Mall featuring a wide variety of upscale retailers as well as the exclusive Turnberry Golf Club. Bellini residences include topof-the-line kitchen and baths by Poggenpohl and Miele, floor-to-ceiling windows, and wraparound glass balconies with panoramic views that overlook the Atlantic Ocean, Intracoastal Waterways and Downtown Miami. The final collection of three-bedroom, three-bath corner residences is priced from $1.45 million. Advertising valid for the United States of America

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NEOVITA

Single Family Homes From 3,433 - 4,453 Sq. Ft. 4 & 5 Bedrooms Townhomes From 2,219 - 2,399 Sq. Ft. 3 & 4 Bedrooms Estimated Date: Beginning 2016 Code: 14107

Contact Sales Gallery 9851 NW 58th Street, Unit 103

Doral - Miami, FL 33178 www.neovitadoral.com

amarquez@terrarealtyllc.com

Phone: +1 305.715.7117

Developer Terra Group

www.terragroup.com Phone: +1 305.416.4556

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Terra Group features their latest luxury community in the City of Doral with NEOVITA, where the highest level of modern architecture and design come together. This new and exclusive collection of unique town homes and single-family homes are all within a gated and secured community that is conveniently located just a few minutes away from Miami International Airport, several major highways, popular retail destinations like Dolphin and International Mall, and an array of delectable restaurants. Neovita offers 4 and 5 bedroom twostory homes and 3 and 4 bedroom town homes with unique and modern architecture that highlights Terra Groups innovative prowess. All units have access to state-of-the-art club houses and community amenities placing Neovita ahead of the curve in Doral’s luxury home market. A high demand for homes in the City of Doral has surfaced due to the city’s booming diverse population and varied career opportunities.

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Other new successful projects in Doral include Donald Trump’s $200 million remodeling of the Doral Golf Resort & Spa, being completely rebuilt with what Trump calls the “highest standards of luxury.” Thanks to its cultural amenities, supportive business environments and highly educated workforce, Doral was named #2 of America’s Top 25 Towns to Live Well by Forbes Magazine.

Community Features

-24-Hour Gated Community -Vibrant Modern Architecture -Attention to Space -State-of-the-Art Features -Covered Terrace -Oversized Lots -2 Luxurious Private Clubhouses

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MODERN DORAL

Homes From 3,620 - 5,693 Sq.Ft. 4, 5 & 6 Bedrooms Estimated Date: Summer 2015 Code: 14108

Contact Sales Gallery

10781 NW 41st Street Doral - Miami, FL 33178 www.moderndoral.com amarquez@terrarealtyllc.com

Phone: +1 786.422.6047

Developer Terra Group

www.terragroup.com Phone: +1 305.416.4556

Luxury thrives in Terra Group’s Modern Doral. Clean lines and simple styling differentiate this community from the traditional Doral neighborhood. Large windows, open living spaces and large floor plans provide a true feel of contemporary living. Each exclusive 4, 5 and 6 bedroom residence boasts 10-12 foot ceilings, state-of-the-art amenities, spacious garages and tropical lush landscaping. Designed after Miami Modernist Architecture, Modern Doral features a style from the 1950s and 1960s that originated as a resort vernacular unique to Miami Beach. This style not only influences the luxury community but has become an architectural achievement. Modern Doral has three separate subdivisions, all extraordinary in their own way, encompassing a total of 319 single-family luxury home featuring 150,000 square-feet of retail space containing fine dining, eclectic shopping and more.

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Modern Doral also offers its residents access to one of three luxurious private clubhouses, each located between the subdivisions and all offering slightly different functionalities. This exclusive membership provides residents with a fully equipped fitness center and playroom for children, business center with media room, library, men’s and women’s locker room equipped with showers and saunas, an oversized swimming pool, wet bar, sun terrace and gazebo with barbecue and much more per designated clubhouse.

Community Features -24-Hour Gated Community -Vibrant Modern Architecture -Contemporary Details -Attention to Space -State-of-the-Art Features -Smart-technology Ready -Oversized Lots -Innovative Design -3 Luxurious Private Clubhouses

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SOPHISTICATED Welcome to modern living in the City of Doral. With distinction, luxury, and elegance you will define your own style atÂ Modern Doral andÂ differentiate yourself from the traditional. Each exclusive 4, 5, & 6 bedroom residence boasts 10-12 foot ceilings, state-of-the-art amenities, innovative designs and tropical lush landscaping. Prepare to relish in the modern lifestyle of your choice.

SALES AND MARKETING EXCLUSIVELY BY

DEVELOPED BY

Brokers Welcome

786.245.4216

moderndoral.com

Broker participation welcome. Oral representation cannot be relied upon as correctly stating the presentation of the Developer, for correct representation, make reference to the documents required by section 718.503 Florida Statutes, to be furnished by the Developer or Buyer or Lessee. Not an offer where prohibited by State Statutes. Plans, features and amenities subject to change without notice. All illustrations are artist conceptual renderings and are subject to change without notice.This advertisement does not constitute an offer in the states of NY or NJ or any jurisdiction where prior registration or other qualification is required. Equal Housing Opportunity. All plans and renderings are conceptual and are subject to change without notice.

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BALBOA BEACH HOUSES Houses 3 bedroom + Den Spring 2016 324-348 Balboa St., FL 33019 North Beach, Hollywood. Code: 14105

Contact Hope Kaller

www.balboabeachhouses.com hope@balboabeachhouses.com Phone: +1 954.608.2421

Features

8 Single Family detached houses 3,000 +/- sq. ft. AC 1,350 +/- sq. ft. terraces, decks / 3.5 baths Den / 4th bedroom option 2 car garage / 2 outside Elevator No HOA / No condo assoc fees

Balboa Beach Houses are 8 single family detached , new contemporary houses located in Hollywood North Beach. Just steps from the Ocean and direct access to a secluded semi-private section of North Beach. Opulent amenities include spacious roof decks with summer kitchens and optional pools. Kitchens are Italian, Thermador SS appliances with gas cooking. Porcelain flooring throughout house and terraces and roof deck. Elevator from 1st floor to Roof deck. Privates fenced yards. North Beach is a secluded area of only 7 streets of residential homes. On the west end of Balboa Street is South Florida’s Intracoastal Waterway where you can see our vibrant marine life. Directly at the east end of the street is a beautifully quiet preserved beach. The beach is known to surfers, paddle boarders, kite surfing and divers. The perfect home for living Florida’s active lifestyle. North beach is located 10 minutes to Fort Lauderdale International Airport, 30 minutes from Miami International Airport and 20 minutes to the world famous night life of Miami Beach! Don’t wait theses won’t last! You will be pinching your selves everyday knowing you own a piece of paradise. 106

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1200 THE OCEAN

Luxury Condo Residences From 1,800 to just under 2,400 Sq.Ft. 3 Bedrooms Estimated Date: 2015 1200 Hillsboro Mile, Hillsboro Beach, FL 33062 Code: 14111

Contact Caprice Weber www.1200theocean.com info@1200hillsboromile.com

caprice@baker-re-florida.com

Phone: +1 (954) 732.8877 +1 (855) 203.1200 Sales Center

Amenities

Every well-appointed detail reflects the thoughtful approach of the talented development and design team. Residents will have access to a private and secluded beach. Each residence offers private or semi-private elevator access, volume ceilings, lavish baths, gourmet kitchens, expansive terraces, high-impact glass doors and windows, state-of-the-art smart technology and much more. Amenities include an oceanfront pool, gated entry to a private beach, under-building parking and a private Intracoastal Waterway day dock just steps away. Boaters can also take advantage of the neighboring marinas in Boca Raton, Deerfield Beach and Lighthouse Point.

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Hillsboro Mile remains South Florida’s most illustrious and desirable oceanfront community. Designed by renowned South Florida architect Richard Jones, 1200 The Ocean features 18 architecturally distinctive condominium homes and penthouse residences, priced from $895,000 to more than $2.45 million for direct oceanfront residences. Each unit features a sleek, contemporary design with clean lines and casual sophistication, which highlights the one-ofa-kind private and secluded oceanfront setting. There is a growing demand and limited supply of new, direct-ocean construction. Sales are strong and more than half of the 18 luxury “boutique” oceanfront condominiums have been sold. Sales at 1200 The Ocean, the only new condominium residence to be built along the exclusive stretch of beach in more than a decade, have surpassed 50 percent. Sales activity is expected to intensify throughout the remainder of the season as 1200 The Ocean retains the distinction of being the only new beachfront condominium to offer new residents occupancy by the end of 2015.

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CENTRO Apartments From 500 to 1131 sq.ft. Up to 2 bedrooms Estimated Date: March 2016 Downtown Miami Code: 14101

Contact Cervera Nelson A Rios P.A

nelson@nelsonarios.com www.nelsonarios.com Miami: +1 305.986.6275 Caracas: +58 212.720.2575 Buenos Aires: +54 11.5984.2310 Features

• Spacious loft-style layouts with minimal walls/room divisions • Decorator ready units (finished bathrooms & kitchens) • Oversized closets • Custom kitchen and bathroom fixtures • Imported stone countertops and backsplashes • Stainless-steel, energy-smart appliances • Italian kitchen and bathroom cabinetry • Dramatic 10 ft. exposed and elevated ceiling in units • Energy-efficient, sound-reducing floor-to-ceiling windows • Separate showers and soaking tubs in select units • Modern light fixtures • High-efficiency air conditioning units • Finished concrete flooring

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CENTRO stands as proof that you truly can have it all. Location, style, quality, and value are all hallmarks of life in our city center. Step outside your door and find yourself in Miami’s jewelry district, alongside courthouses and government offices, Centro is where the action happens. At the same time, it is the gateway to downtown’s favorite destinations – just a few blocks from the Miami Riverfront, Bayfront Park and Bayside Marketplace, Biscayne Bay, The American Airlines Arena, the upcoming new Museum Park, and the Arsht Center for the Performing Arts. Inside, explore a world that revolves around your complete convenience. Common spaces are welcoming, with finishes that echo downtown’s edge while still delivering Miami’s signature atmosphere. Sunbathe alongside the rooftop pool, or interface with your fellow Centro residents at the rooftop E-lounge. When you have the world at your feet, everything else seems easy. The well planned Centro’s amenities have an upscale charm, while its loft style interiors allow limitless options. Open-concept floor plans allow you the freedom to arrange your space your own way, with minimal walls between you, your guests, and your views of the city. Floorto-ceiling windows create a seamless connection with the energy of downtown, while quality materials like Italian cabinetry and fixtures redefine its image.

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THE OCEAN Apartments From 499 to 4005 sq.ft. Up to 5 bedrooms Renovations by: Sept. 2015 Fort Lauderdale - Miami

Code: 14102

Contact Cervera Nelson A Rios P.A

nelson@nelsonarios.com www.nelsonarios.com

Miami: +1 305.986.6275 Caracas: +58 212.720.2575

Buenos Aires: +54 11 5984.2310

Features • • • • • • • •

Waterfront address on the sands of the Atlantic Ocean Contemporary mid-rise tower limited to 24 floors 109 decorator-ready fully-serviced Oceanfront Residences with multiple finish and furnish options 181 Oceanfront Resort Residences delivered fully finished and furnished Managed by Conrad Hotels & Resorts – the global leader in innovative luxury The first-ever Conrad Hotels & Resorts Residential Resort property in North America Developed by Orchestra Hotels & Resorts Designed by world leading architect Michael Graves

BUILDING AMENITIES

– 20,000-square-foot pool deck with a private beach club, a heated fresh water pool, two whirlpools, areas for sunbathing, priority owners cabanas, and a poolside restaurant and bar. – Private beach concierge services and complimentary chaise lounges on Fort Lauderdale Beach. – Private owner lounge in the Beach Villa Tower. – Signature restaurant & lounge overlooking the Atlantic Ocean. – Conrad E-Concierge: mobile app for seamless, instant service. Order room service, arrange valet pick-up, coordinate dining reservations, manage housekeeping, and more. – 4,000-square-foot fitness center. – Conrad Branded spa. – On-site upscale gourmet market. – Resort Retail Store. – 24-hour valet. – Expansive reception lobby and intimate lounge & mixology bar with seating areas. – 20,000-square-feet of meeting space designed to host memorable events. – High-speed wireless encrypted internet throughout the building with access on the beach. – Five high-speed elevators

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PRIVILEGE PROGRAM – Free membership to 6th floor sky beach – Conrad E-Concierge – 10% off food & beverage on the property – Access to The Ocean’s private fleet of pleasure boats – Access to The Ocean’s private cars or car service – Fun and engaging Kids Program – Exclusive access to art exhibits located throughout the property – Rotating schedule of Life Enrichment Courses for residents activities include cooking, art, wine, travel, computers, programming, and more – Bike along the Fort Lauderdale beachfront with Conrad’s bike-share program – Upscale happy hour for residents and guests only – Movie night in the owner’s lounge every Friday – Complimentary WIFI internet in all common areas – Complimentary laundry service – Complimentary beach chairs – Priority seating at signature restaurant – Complimentary 1 year personal trainer/life coach

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PARK GROVE Apartments From 747 to 3592 sq.ft. Up to 4 bedrooms + Den Completion by 2017 Coconut Grove - Miami Code: 14103 Features • • • • • • • • • • • • • • • • • • • • • • • • •

Designed by World-Renowned architect OMA . Rem Koolhaas Expansive Bay and City Views Certified LEED® Silver 24-Hour Concierge and Valet Service Nautical Themed Concierge Butler Service Private Business Center with Meeting Rooms Lush Landscaped Gardens by Enzo Enea Sculpture Garden Artwork by Notable Sculptors and Artists Kitchens & Baths designed by William Sofield Luxurious Pool with Private Cabanas Bayview Dining Room for Private Events Dedicated Penthouse Pools Wine Cellar and Wine Lockers for Residents Indoor /Outdoor Yoga Spaces Large Conference Room and Integrated Media Systems Library Fitness Rooms, Reception, and Mail Room Storage for Bicycles and Watercraft Residents’ Lounge for Events Children’s Indoor and Outdoor Play Area Private Screening / Media Room Adult Gaming Room including Billiards and Table Tennis

Contact Cervera Nelson A Rios P.A Licensed Real Estate Professional nelson@nelsonarios.com www.nelsonarios.com Miami: +1 305.986.6275 Caracas: +58 212.720.2575 Buenos Aires: +54 11.5984.2310

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Nelson is a Cervera Professional Associate, known for his alwayspositive attitude and a dedication to results, Nelson Rios is one of the most respected and effective real estate professionals in the Miami market. Even with 20 years of experience in marketing and sales, Nelson continues to make impressive transactions. This has made him one of Cervera’s top producers, year after year, project after project. In his six years with Cervera, he has been recognized with many honors, including: - Cervera Real Estate Outstanding Leadership Award (2012), - Newgard Development – Outstanding Effort (2012); Related/Cervera Realty Services Top Producer Award (2010);

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Related/Cervera Realty Services Rookie of the Year Award (2008). In order to gain this high level of achievement, Nelson credits a lifelong interest in real estate and a passion for delivering knowledge and superior customer service. “My goal is to make every transaction a success – even the most complicated ones, which are often the most gratifying once complete.” At the same time, it is Nelson’s talent for connecting with people that makes him so popular with his clients. His friendly, outgoing nature pairs excellently with his international market understanding. Having lived in Venezuela, Italy, and the United States, he appreciates the nuances between the needs of South Advertising valid for the United States of America

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American, European, and American clients and then endeavors to exceed expectations throughout the buying and selling process. With this breadth of skill, it is unsurprising that Nelson has been the agent of choice for the former president of El Salvador, numerous other politicians from other countries, and singers and entertainers from around the world. Today, Nelson specializes in Coral Gables, Coconut Grove, Brickell, and Downtown Miami â&#x20AC;&#x201C; particularly pre-construction high-rise properties ranging in price from $200,000 to $6 million. He is also an expert in meeting or exceeding high-volume sales goals, routinely supporting entire projects Advertising valid for the United States of America

with sales of multiple units at a single property, as many as 50, 100, or more. When heâ&#x20AC;&#x2122;s not working tirelessly to help others find the ideal home, he spends time perfecting his own home â&#x20AC;&#x201C; with his wife and two young children. He also enjoys cooking, and travelling abroad to experience other cultures. Nelson and his family are actively involved in their church and contribute to various charitable organizations designed to improve and enhance the communities we all live in and share. Nelson attended Universita de Cassino in Italy, Miami Dade College in Miami, and the Gold Coast School of Real Estate. He is fluent in English, Spanish, and Italian. www.equitymedia.la

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INTOWN

The Developer-Astor Companies

Condominiums, Townhomes & Retail From 660 to 1454 sq. ft. 1, 2 & 3 Bedroom Condominiums 3 Bed / 3 Bath Exclusive Townhomes Estimated Date: 4th Quarter of 2016 1900 SW 8 Street, Miami, FL 33135 Code: 14110

Fueled by the concept that urban living can be luxurious as well as accessible, The Astor Companies specialize in city-centric residences known for hand-picked locations, smart amenities, and an unwavering commitment to quality, design and value. The firm has rapidly grown to become one of the most successful urban developers in the area. InTown exemplifies the firm’s philosophy of connected, amenity-rich residences that both reflect and enrich the surrounding neighborhood.

Contact The Astor Companies

www.intowncondos.com sales@intowncondos.com

Phone: +1 (305) 521.1334 +1 (305) 961.1890 312 Condominiums, 8 Exclusive Townhomes and 12 Retail Spaces Surrounded by the Best of Miami with Luxury Features and Amenities to Accommodate your Modern Lifestyle.

Features • 6 Floor Plans to Choose • Move-in-Ready Units • Interiors by Steven G *Additional • Furniture Packages *Additional • Stainless-Steel GE® Appliances • Italkraft® Italian Cabinetry with Quartz Countertops • Moen® Fixtures & Faucets in Bathrooms • Aqualife® Faucets in Kitchens

Amenities • Over 19,000 Square Feet of Ground Floor Retail • 6 High-Speed Elevators • 4th Floor, 14,000 Square Foot Open-Air Pool Deck • 65-Foot Swimming Pool • State-Of-The-Art Fitness Center • Business Center, Club Room with Billiard and Theater • 24-hour Reception Desk • 24-hour On-Site Security

Valet Service

Where else in the world can you find boutiques & bodegas, timbales & trendsetters, the authentic & the avant-garde, and the urban & the unforgettable all in one vibrant setting? Only at InTown. Here, Miami’s rich tapestry comes to life with influences ranging from the ultra-chic to the historic and colorful, all with the contemporary styling, conveniences, and luxuries that people have come to expect of The Magic City. So be prepared to delight in the sparkle of city views… but also get ready to experience true comfort, designer surroundings, and the warm atmosphere of a community designed to expand your horizons.

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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER.These materials and the features and amenities described and depicted herein are based upon current development plans, which are subject to change without notice. No guarantee is made that the features, amenities and facilities depicted by artistsâ&#x20AC;&#x2122; renderings or otherwise described herein will be provided, or, if provided, will be of the same type, size or nature as depicted or described. All dimensions are approximate, and all floor plans and development plans are subject to change.

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THE RITZ-CARLTON RESIDENCESÂŽ Residences 212 Residences From 1,605 sq. ft. to 3,640 sq. ft. Penthouse Up to 6,320 sq. ft. From 2,5 to 5,5 Bedrooms Estimated Date: 2018 15701 Collins Avenue, Sunny Isles Beach, FL 33160 Code: 10100

Contact

Fortune International Group smendez@fortuneintlgroup.com Telf: +1 (786) 259.6630 / +1 (786) 259.6631

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Residences. On the Ocean. Legendary sandcastles & sommeliers Oceanfront residences in Miami from $2.4 million

Spanning 2,2 acres, the 52 story tower is located directly on 250 feet of pristine beachfront. Upon completion in 2018, The Ritz-Carlton Hotel Co. will manage the property, providing residents with the legendary service, quality and personal touch synonymous with The Ritz-Carlton® brand. Located in the heart of magnificent Sunny Isles Beach, The Residences stand between prestigious Bal Harbor Shops and the fabulous Aventura Mall, as well as near to both Miami and Fort Lauderdale International Airports. The unprecedented luxury and superb design and architecture are complemented by a location that puts you close to all of the excitement, culture and beauty of South Florida

The Ritz-Carlton Residences, Sunny Isles Beach are not owned, developed or sold by The Ritz-Carlton Hotel Company, L.L.C. or its affiliates (“Ritz-Carlton”). Sunny Isles Property Venture L.L.C. uses The Ritz-Carlton marks under license from Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein. THIS IS AN ARTIST RENDERING BASED ON PLANS AND CONCEPTS WHICH ARE SUBJECT TO CHANGE WITHOUT NOTICE. NO GUARANTEE IS MADE THAT THE FEATURES, AMENITIES OR FACILITIES DEPICTED WILL BE BUILT, OR, IF BUILT, WILL BE OF THE SAME TYPE, SIZE OR NATURE AS DEPICTED. Oral representations cannot be relied upon as correctly stating representations of the Developer. For correct representations, make reference to the documents required by Section 718.503, Florida Statutes, to be furnished by a seller to a buyer or lessee. The Developer is Sunny Isles Property Venture, LLC which has a right to use the trademark names and logos of Fortune International Group and Chateau Group. The rendering contained herein is an artist impression, conceptual interpretation, proposed only and merely intended as illustration. No guarantee is made that the described features, services, amenities or facilities will be available or built. Developer reserves the right to make any modifications, revisions or withdrawals in its sole discretion and without prior notice. All improvements, design and construction are subject to first obtaining permits and approvals for same by the relevant authorities. This is not an offer to sell, or solicitation of offers to buy, in states where such offer or solicitation cannot be made.

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JADE

Apartments From 1,377 to 11,625 sqft 1 to 5 bedrooms Estimated Date: 2016 Sunny Isles Beach - Miami 16901 Collins Av. Sunny Isles Beach, FL 33160 Code: 10101

Contact: Fortune International Group

www.jadesignature.com Phone: +1 (786) 259.6630 +1 (786) 259.6631 Jade is a masterpiece of 57 residential floors in a beachfront property in Sunny Isles Beach, it is the newest edification of Jade Collection from Fortune International Group. Fortune gathered Herzog & de Meuron (winners of the Pritzker Architecture Award) and the worldwide renowned interior design signature PYR directed by Pierre Yves Rochon and the distinguished landscape architect Raymond Jungles. Via international collaboration from all those involved, a crucial moment is being held in the real states sector of southern Florida. A perfect interconnection between the lobby, beach, exorbitant gardens and dynamic resort type commodities, allows offering the prime coastal life in a way never seen before. Residences in Jade stand out for the smooth architectonic design of its ocean view apartments, with extraordinary and wide terraces. Windows have been designed to frame the horizon reinforcing the connection between the inside and outside. Devloped by

Oral representations cannot be relied upon as correctly stating representations of the developer. For correct representations, make reference to the documents required by section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. Project is being developed by Sunny Isles Beach Associates, LLC. Which has a right to use the trademark name and logo of Fortune International Group Corp. Features, illustrations; graphics and depictions are conceptual and preliminary only and are for convenience of reference. Developer expressly reserves the right to make modifications, revision and changes it deems desirable in its sole and absolute discretion without notice. This is not intended to be an offer to sell, or solicitation to buy, in any jurisdiction where prohibited by law. Architect of Record â&#x20AC;&#x201C; ADD Inc.

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Ecuador

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