SAN DIEGO BEACH, Nicaragua -- After throttling back its activities in 2009 in response to the economic downturn, the team at Milagro del Mar Beach & Golf Resort is now pressing ahead with an aggressive relaunch strategy. Construction of the Ocean Village luxury condominiums is back on track, an innovative eco-community is underway, new custom homes are under construction, and improvements and renovations are in progress on the resort's golf course. An announcement also is forthcoming on the addition of an international hotel partner.
As it begins this new evolution, Milagro del Mar already features existing beachside condominiums and a number of private homes on approximately 500 acres of oceanfront property along the Pacific Coast of Nicaragua. A nine-hole golf course is open for play, with an additional nine-hole layout planned for the next phase of expansion. Eventually, the resort will feature the Country Club of Milagro del Mar, offering golf, tennis, fine dining and other recreational activities.
Other amenities currently include an oceanfront restaurant, a surf shop and ready access to two world-class breaks, a stable offering horseback riding, and La Vida Nica, an on-site concierge group that provides services to property owners and resort visitors. With rentals and packages available, Milagro del Mar has become a favored vacation destination for individuals and families from throughout Central America, the United States and Canada.
"We were able to weather the downturn and actually benefit from it in terms of additional planning and the opportunity to expand our land holdings," says Roger Keeling, who heads The Keeling Group (TKG), which is developing the new Milagro del Mar. "We were able to put new financing in place and are now pushing forward quickly in what we feel is a rapidly improving market. We also are benefiting from the strong economic expansion here in Nicaragua, which is seeing significant gains in outside investment and tourism, as well as phenomenal growth in its GNP."
The master plan was substantially revised and expanded after TKG acquired properties and amenities that were previously part of Gran Pacifica, a master development. The revamped plan still centers around the newly named Ocean Village, a neighborhood of two- and three-bedroom luxury condominiums and villas situated on land sloping toward the ocean. The first condominiums are set for completion in the first quarter of 2014.
Homes also are underway in Milagro Verde, an innovative eco-community designed "to provide green living without sacrificing luxury." The "right-sized" single-family homes utilize geothermal heating and cooling, and passive solar water heating.
Milagro del Mar also offers homesites adjacent to the ocean in the San Diego Viejo neighborhood and along the golf course. The resort community already contains a number of custom homes and casitas.
"The interest we're receiving has been very positive, and more and more people are expressing the desire to come for one of our special in-country tours to learn more about Nicaragua and what we're doing here," Keeling says.
According to Keeling, both Nicaragua and destinations such as Milagro del Mar are gaining momentum from improving markets. The country has experienced steady upward trends in most sectors of its economy, and its recognition is spreading as a safe and welcoming place to visit, invest and live. Keeling points out the appeal of the low cost of living, available healthcare and favorable tax laws to retirees seeking to maximize their funds, while noting that there also are many "value seekers" who have recognized the lucrative investment opportunities in Nicaragua.
"Needless to say, it's exciting to crank up our activities again," Keeling says. "It wasn't easy to wait, but it certainly was the right thing to do and now ideally positions us to move forward and create new momentum. It's often said good things come to those who wait. For us, we now believe better things are coming for those who have waited."
About Milagro Del Mar Beach & Golf Resort
Milagro del Mar Beach & Golf Resort is located on the Pacific Coast of Nicaragua, approximately one hour west of Managua. The resort offers a wide selection of amenities and activities including golf, surfing, horseback riding, guided eco-tours and oceanfront dining. A range of real estate options are available, as well as rental properties, including condominiums, homes and casitas. Complete information is available at www.milagrodelmar.com