South American Properties announced construction update in Peru project

An exciting opportunity has arisen for South American Properties in recent weeks to purchase additional land tracks adjacent to the existing property that has been purchased which will allow for further expansion of the community in the future. The company plans on announcing the official ground breaking of the project soon.

President and CEO Jeffrey Love stated, "We are pleased the project is moving forward and that the us$ 30 million dollar Phase I part of the project will fill the need for a high-end secure Marina facility that is currently not available in the country of Peru."

South American Properties has just has embarked on Phase I of the Colin Marina Complex: A us$ 30 million dollar full service luxury marina called Colan Marina near the port of Paita in northern Peru. Colan Marina will be a planned full service marina and lake with 150 slips, dry dock facilities, maintenance and fuel service and full 24-hour security. A rock jetty will be constructed to calm any waves allowing a smooth entry into the canal and marina.

The marina will be land locked and secure from weather. Plans call for a small draw bridge that will allow traffic along the beach when boats are not entering. The marina will be a man-made construction to be created by excavation of a salt flat bordering the emerald bay beach on the west and 100-foot cliffs on the east. A canal 24-meters wide and 200-meters long will connect the marina from the Pacific Ocean. It will be connected to electric and water services.

Phase II of the project also includes a Marina Club, Casino, Bar, Hotel, Retail Stores, Night Clubs, Yacht Club, a Convention Center as well as apartments and condos for sale and rent.