Santiago on the road to success

When it comes to investing in any emerging country, be it in the property market or in all manner of emerging industries, those doing so will have a number of issues in mind. Businessmen will consider costs and the supply of skilled labour. Those involved in exploration for minerals or fossil fuels will want to survey the prospects extensively first. Those keen on property, meanwhile, may consider a range of issues, not least whether new property developments are supported by the necessary infrastructure.

This can include amenities such as water and electricity, but it also requires the key factor of accessibility. Last month property editor for BuyAssociation Paul Collins noted that in many emerging markets, including Cape Verde, there has been a tendency for new property development to be ahead of the arrival of new infrastructure, such as roads and airports.

Of course, in the case of the archipelago some infrastructural aspects simply have to be in place, such as airport, or else there is little point building anything for foreign investors or tourists.

Speaking about a new road development in the arcjhipelago, Mr Collins noted: "In terms of Overseas property it tends to be that people like to buy within an hour's drive of an international airport." For this reason, he said, the creation of new roads will mean growth in the local property market, both for places that come into one hour's reach of the airport and also in terms of new developments that will be built within the expanded range.

For this reason, those investing on Santiago may be keen to learn of the completion of a new road project on the island. This has seen a 10K link between the districts of Sao Lourenco dos Orgaos and Santa Cruz being completed using funds form the US through its Millennium Challenge Account, which is designed to aid development in Africa, Macauhub reported.

 The Millennium Challenge Account also reported that more roadbuilding projects are also in progress on the island, including one from Assomada to Rincao that is due to be finished next July and Cruz Grande to Calhetona, which is set to be completed in December 2010.

 With such infrastructure improvements taking place on Santiago Island, investors may be confident that the necessary kinds of advances are being made to boost the property market, as well as the general economy as the transportation of goods will become easier. If some emerging countries are not developing their roads or transport networks in the way they need to, the same, it appears could not be said of Cape Verde and Santiago.

This article has been brought to you be Sambala; the developer for Cape Verde Property.

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