Page 1 Tartaruga Bay, Inhambane, Mozambique
Tartaruga Bay, Inhambane, Mozambique Page 2
This document contains intellectual property and propriety information
that is protected by copyright in favour of WideBlueSky Development and its specialist consultants.
The document may therefore not be reproduced, used or distributed to any third party without the prior
written consent of WideBlueSky Development.
This document is prepared exclusively for submission to prospective fractional share owners and is subject to
all confidentiality, copyright and trade secrets,
rules of intellectual property law and practices internationally
Page 3 Tartaruga Bay, Inhambane, Mozambique
TABLE OF CONTENTS
Bem vindo! ................................................................................................ 7
The Professional Team .............................................................................. 7
Investment Summary ................................................................................ 9
Revel in Tropical excellence ........................................................................... 9
Experience superb adventure ........................................................................ 9
Easy access ..................................................................................................... 9
Fast tourism growth ....................................................................................... 9
Exchange with other exclusive estates anywhere in the world ................... 10
Mozambique – one of the fastest growing economies in the world............ 10
Mozambique as a lifestyle investment destination ................................ 11
Tourism......................................................................................................... 11
Economic conditions .................................................................................... 11
Growth projections ...................................................................................... 12
The development vision .......................................................................... 13
Design ........................................................................................................... 13
Natural harmony .......................................................................................... 13 Loggerhead Turtles ........................................................................................... 13
Manta Reef ....................................................................................................... 14
Humpback Whales ............................................................................................ 14
Whale sharks .................................................................................................... 14
Marine life ........................................................................................................ 15
Our commitment to conservation ................................................................ 15
A Dream Destination ............................................................................... 15
A Choice Location.................................................................................... 16
Inhambane Province..................................................................................... 16
Estate Location ............................................................................................. 16
Getting there ................................................................................................ 17 Tartaruga Bay by Road ..................................................................................... 17
Tartaruga Bay by Air ......................................................................................... 17
Transfers to Tartaruga Bay ........................................................................... 17
Design and Appointments ...................................................................... 17
Floor Plan...................................................................................................... 18
Exterior ......................................................................................................... 18
Interior.......................................................................................................... 21 Main Bedroom .................................................................................................. 21
Lounge .............................................................................................................. 21
Main Bathroom ................................................................................................ 22
Club Nautilo ............................................................................................ 23
Deck .................................................................................................................. 23
Activity Center .................................................................................................. 25
Spa .................................................................................................................... 25
Tartaruga Bay, Inhambane, Mozambique Page 4
Pool bar ............................................................................................................ 25
Restaurant ........................................................................................................ 25
Convenience store ............................................................................................ 26
Conference facility ............................................................................................ 26
In-house cuisine................................................................................................ 26
Business centre................................................................................................. 26
Services ............................................................................................................. 26
Estate Amenities and Services ................................................................ 27
Estate Activity Programs ......................................................................... 27
The Lifestyle Advantage .......................................................................... 28
The worldwide Luxury Fractional Exchange Program............................. 28
Rental Pool .............................................................................................. 29
Master Plan ............................................................................................. 29
Construction............................................................................................ 30
Environmental protection ....................................................................... 31
Beach protection .......................................................................................... 31
Dune protection ........................................................................................... 31 Minimization of internal roads ......................................................................... 31
Luar Walkway ................................................................................................... 31
Green Design ........................................................................................... 31
Site placement .............................................................................................. 32
Energy Efficiency .......................................................................................... 32
Materials Efficiency ...................................................................................... 32
Water Efficiency ........................................................................................... 33
Guest Health and Safety ............................................................................... 33
Building Operation and Maintenance .......................................................... 33
Conservation ................................................................................................ 33
Farming......................................................................................................... 34
More expensive, but worth it ....................................................................... 34
Exclusive vs Fractional Interests ............................................................. 34
Fractional Ownership vs Timeshare ........................................................ 34
Fractional Ownership Advantages .......................................................... 35
Price Lists and Ownership Costs ............................................................. 37
Transfer Fees ........................................................................................... 39
Appreciation of Investment .................................................................... 39
Resort Marketing, Management & Operational approach..................... 40
6-Way Fund Protection ........................................................................... 40
Purchaser Amount Insurance ....................................................................... 40
Insured Trust Account .................................................................................. 41
Mozambique Government Guarantees........................................................ 41 Mozambique Article Decree 39/2007 Article 9 Insurance ................................ 41
Mozambique Article Decree 39/2007 Article 33 Bond ..................................... 41
Mozambique Article Decree 39/2007 Article 35 Bond ..................................... 41
More return on your money ........................................................................ 41 Current returns ................................................................................................. 41
Rental Income .............................................................................................. 41
Page 5 Tartaruga Bay, Inhambane, Mozambique
Protected Trust Fund .................................................................................... 42
Company Structures ............................................................................... 42
Construction............................................................................................ 43
Land Ownership in Mozambique ............................................................ 44
Legal Framework for Fractional Ownership Rights ................................. 44
Purchase & Legal Compliance ................................................................. 45
Investment Guarantees .......................................................................... 46
Treaties and Bilateral Agreements ............................................................... 46
Investment Protection Conventions............................................................. 47
Double Taxation Treaties ............................................................................. 47
Investment Incentives .................................................................................. 47 General Benefits ............................................................................................... 47
Special Fiscal Benefits for Hotel and Tourism ................................................... 47
Community Development ....................................................................... 47
Approach .......................................................................................................... 47
Creation of subprojects .................................................................................... 48
FAQs ........................................................................................................ 48
what is fractional ownership? ...................................................................... 48
what are the benefits of fractional ownership? ........................................... 48
are fractional ownership and timeshare the same? .................................... 49
how does fractional ownership work? ......................................................... 49
how does it work in Mozambique? .............................................................. 50 � the right way: ............................................................................................... 50
Advantages ....................................................................................................... 50
� the wrong way ............................................................................................. 50
Disadvantages .................................................................................................. 50
what happens if I cannot use my share? ...................................................... 50
is it good value for money? .......................................................................... 53
do the owners own the land? ...................................................................... 54
is my money safe? ........................................................................................ 54 Purchaser Amount Insurance ........................................................................... 54
Insured Trust Account ...................................................................................... 54
Mozambique Government Guarantees ............................................................ 54
More return on your money ............................................................................ 55
Rental Income .................................................................................................. 55
Protected Trust Fund ........................................................................................ 55
what are the roads like to Tartaruga Bay? ................................................... 56
can I see the legal process for the development? ........................................ 56
are there plans to develop housing schemes/Industrial sites nearby? ........ 56
how is Tartaruga Bay involved in the local community? .............................. 56
does the local community support the project? .......................................... 56
how close is the local community to the project? ....................................... 56
does the community have access to the resort?.......................................... 57
how are services planned? ........................................................................... 57
does Tartaruga Bay have Insurance cover? .................................................. 57
what security measures are planned for Tartaruga Bay? ............................ 57
is Tartaruga Bay in a Malaria Area? .............................................................. 57
Tartaruga Bay, Inhambane, Mozambique Page 6
are there nearby medical facilities? ............................................................. 58
are the beaches at Tartaruga Bay resort safe for swimming?...................... 58
can I launch my boat at the resort? ............................................................. 58
will there be a place of safekeeping for my boat or kayak? ......................... 58
will there be a facility where I can wash my car or boat? ............................ 58
will there be a scuba diving facility? ............................................................. 58
is the project approved by the Mozambican Government? ........................ 58
is fractional ownership for me?.................................................................... 58
how much does it cost? ................................................................................ 59
what are the levies? ..................................................................................... 59
how does payment work? ............................................................................ 59
where will the rental income be paid? ......................................................... 59
what do I get? ............................................................................................... 59
how do I invest? ........................................................................................... 60
Contact Details ........................................................................................ 61
Villa and Cabana Contents ...................................................................... 62
KITCHEN ............................................................................................................ 62
DINING ROOM .................................................................................................. 65
LOUNGE ............................................................................................................ 66
MAIN BEDROOM .............................................................................................. 68
BEDROOM 2 ..................................................................................................... 70
BEDROOM 3 (Villa only) .................................................................................... 72
BEDROOM 4 (Villa only) .................................................................................... 74
Page 7 Tartaruga Bay, Inhambane, Mozambique
BEM VINDO!
Welcome to the realization of our vision of Tartaruga Bay as one of Mozambique’s premier luxury tropical lifestyle destinations.
Our involvement in Mozambique began decades ago: like most South Africans, we went to Lourenco Marques, San Martinho and Ponta du Ouro every school holiday in my dad’s red V8 Ford Galaxy. It cost him less than R5 to fill up his fuel tank back then!
We snorkelled, fished, ate cashew nuts, prawns and warm pau and enjoyed cold Laurentina and Laranjada.
We fell in love with the beautiful country and its friendly people - and we have not been the same since.
Since those days, we have visited Mozambique almost 100 times looking for a home. The primitive, poorly designed huts that some built and sold over the years did not impress us. We visited the five-star lodges in Benguera and Bazaruto and paid in US dollars for the privilege. We saw the discrepancies that exists between cost and quality and decided to create a destination where the resort matched the spectacular natural beauty – and where it was affordable.
Our decision to establish a benchmark resort resulted in the incorporation of the superb designs from our visits to Bali and Maldives. The villa design had to be perfect - and the luxurious finishing and furnishing had to reflect that superior standard.
We do not only give you the spectacular Mozambique, but you also get the world. As an owner you automatically become a member of a luxury vacation exchange program that allows you to exchange your ownership with luxury destinations in all the beautiful places in the world. Visit Santorini this year, Bali next year or maybe a luxury cruise, then Paris or Disneyland the year after that.
We are redefining affordable luxury coastal living in Mozambique - and we are creating your own beautiful holiday home from which you
will leave with a truly refreshed heart.
As Bob Dylan sang:
And when it's time for leaving Mozambique,
To say goodbye to sand and sea,
You turn around to take a final peek
And you see why it's so unique to be
Among the lovely people living free
Upon the beach of sunny Mozambique
We are convinced you will agree that we are creating a unique, affordable tropical destination – one that you and your children’s children will love and enjoy.
Welcome to paradise.
Mitch Mitchell Tartaruga Bay
Tartaruga Bay, Inhambane, Mozambique Page 8
THE PROFESSIONAL TEAM
The following individuals and organizations are the professional team involved in the conceptualization, development and management of Tartaruga Bay.
Auditors: PWC
Legal South Africa: Kruger and Partners Inc.
Legal Mozambique: AfriLegis
Estate Management: Legacy
Environmental: CARCHAF
Architects and drafting: MetroCad
Structural Engineers: Frank Norman Associates
Quantity Surveyors: GCOM
Product visualization Studios in Bolivia and London
Interior Design: AfriDeco
Corporate Identity, Brand Development, Online presence and Marketing: XTasis Media
Project Development and intellectual property: WideBlueSky
Banking Partner South Africa: Standard Bank
Banking Partner Mozambique: BCI
Insurance: Chartis
Page 9 Tartaruga Bay, Inhambane, Mozambique
INVESTMENT SUMMARY
REVEL IN TROPICAL EXCELLENCE
Tartaruga Bay is an opulent 5-star estate, providing owners with a lifestyle serviced by an array of magnificent facilities. Living in beachfront or sea-facing villas along the almost 1 km of pristine white-sand beach, guests are will enjoy luxury tropical coastal living, spa treatments and exceptional cuisine.
Carefully masterplanned for optimum privacy and spectacular views, all guests will experience peace and tranquility – without the slightest hint of crowding or overdevelopment.
EXPERIENCE SUPERB ADVENTURE
For the adventurous, nature excursions, scuba diving, fishing, sailing surfing and fun in one of the most beautiful and peaceful surroundings still left in the world.
One of Africa’s best-kept secrets is Inhambane in Mozambique, a tranquil haven hidden on the stunning Mozambique coastline
EASY ACCESS
From the azure Indian Ocean with pristine white beaches to the coconut tree forests, Inhambane is a place of breathtaking natural beauty. Vasco da Gama is reported to have stop in Inhambane on his very first sea voyage from Portugal to India that sailed from Lisbon in 1497.
It is said that the Portuguese sailors were given a very warm welcome by the locals in Inhambane, resulting in Vasco da Gama naming Inhambane the Land of the Good People.
The Inhambane ocean contains some of the most unique wildlife in the world, from giant manta rays to whale sharks, loggerhead turtles and dugongs. Large numbers of humpback whales come to the area every year to calf.
The main road from Maputo to Inhambane is completed and the border post at Komatipoort will be consolidated to a single border post within the next few months.
FAST TOURISM GROWTH
Mozambique is fast emerging as one of the hottest travel destinations for the discerning traveler. It offers a long and beautiful coral-fringed coastline with translucent waters and some of the world’s best scuba diving opportunities.
The country is rapidly growing with a projected 8.3% growth rate in 2014 – one of the highest on the continent (Source: Bloomberg)
Tartaruga Bay, Inhambane, Mozambique Page 10
The Government is stable and offers investors various international investment guarantees including the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards and adheres to the Cotonou Agreement
EXCHANGE WITH OTHER EXCLUSIVE ESTATES ANYWHERE IN THE WORLD
At Tartaruga Bay, thousands of luxury destinations around the world are your luxury escape options - this year in Algarve, next year in Bali, maybe a luxury cruise, then in Paris and the next
year at Disneyland.
More and more vacation homeowners
are discovering the new vacationing alternative of luxury home exchanging.
Vacation homeowners have all experienced the joy of having that special second or third home to go to for their holidays or summer breaks.
Now you can leverage your share in Tartaruga Bay to travel to spectacular new luxury destinations when you want to try some place new.
At Tartaruga Bay it is your choice to:
• Use your property yourself and enjoy a luxury tropical estate
• Let the Management Company rent it out - and earn rental income or
• Exchange your property with a luxury destination elsewhere in the world
MOZAMBIQUE – ONE OF THE FASTEST GROWING ECONOMIES IN THE
WORLD
Mozambique is one of the best investment markets in the world with high foreign investment, strong economic growth, secure tourism property ownership, appreciating real estate value and high yields in select regions.
Tartaruga Bay is a secure investment in the rapidly growing Mozambican tourism market with full Government guarantee and support, carefully negotiated and prepared contracts and a strong ownership structure.
Because of the high demand for holiday accommodation in Mozambique, investors may choose to not use their time and let the rental pool rent out their share, thereby completely redeeming the full share purchase price within 6 years.
Investors can take advantage significant growth, with an expected 14-18%+ growth per annum.
Page 11 Tartaruga Bay, Inhambane, Mozambique
MOZAMBIQUE AS A LIFESTYLE INVESTMENT DESTINATION
The World Bank and the International Finance Corporation named Mozambique as a Top 10 Reformer by virtue of its political stability, multi-party democracy and improvements in governance. Although problems and challenges remain, the turbulent past is now behind and Mozambique is now launched on a path towards a bright future.
According to the Global Peace Index for 2008, Mozambique rates as the 4th most peaceful country in Africa behind Madagascar, Botswana and Ghana.
In this context, it rates 50th in the world (one position behind Great Britain) in 49th place.
TOURISM
The tourist industry in Mozambique is expanding faster than ever before. The recent elimination of visa requirements for South African passport holders coupled with the upgrade of infrastructure (roads in particular) and the entry of South African banks in the offshore lending market has made this holiday destination much more accessible.
According to the preliminary results presented by the United Nations specialized agency, the World
Tourism Organization (UNWTO) the number of international tourist arrivals recorded worldwide grew by 5,5% and exceeded 800 million people for the first time ever. Of this global market Africa showed the best results with an annual growth of 10% compared to the other international competitors.
Overall, Mozambique showed particularly remarkable results and outperformed all other destinations with a +37% growth (January to September) compared with the same period of the
previous year. Even when compared with the island destinations of Seychelles (+7%) and Mauritius (+6%)
Mozambique dominated.
The planned Maputo Urban Development Program will greatly improve the perception of Mozambique. Through this Program the city council of Maputo is to spend about $35m on targeted investments to improve urban services such as roads, drainage and solid-waste removal.
Mozambique’s 2,600km of coastline offer pristine beaches, an ocean rich with coral reefs and unexploited marine life, but above all, a climate perfectly suited to all year round tourism.
ECONOMIC CONDITIONS
The world economy is currently rising out of the financial slump with growth in South Africa having stabilized in 2010. Benefitting from the economic climate, fractional ownership is less costly and makes vacation home ownership possible for more buyers. It is the preferred vacation ownership method worldwide.
Tartaruga Bay, Inhambane, Mozambique Page 12
Through gradual property, commercial, foreign investment and tax reforms, the Mozambican Government is steadily positioning the country as an investor-friendly location. The net result has been a remarkably stable currency and high economic growth of 7.0 - 8.8% since 1998 - establishing it as one of the fastest growing economies in sub Saharan Africa.
From a tourism perspective, Condé Nast Traveller and many other international publications have recognised Mozambique as a new and exciting destination. The relaxed Afro-Portuguese culture of its people, its vast wildernesses, stunning natural beauty and tropical climate are being discovered by international tourists.
Mozambique is rapidly becoming the next international tourism destination.
GROWTH PROJECTIONS
According to the International Monetary Fund, projected GDP growths are:
Gross domestic product, constant prices (Percent change) 2014 2015 2016 2017 2018 2019
Mozambique 8.34 7.90 7.67 7.93 7.83 7.80
South Africa 2.34 2.66 3.16 3.04 3.04 3.04
United States 2.77 2.95 3.03 2.91 2.59 2.22
United Kingdom 2.88 2.46 2.35 2.26 2.43 2.44
China 7.54 7.28 6.97 6.76 6.63 6.52
Germany 1.71 1.56 1.40 1.36 1.30 1.29
Page 13 Tartaruga Bay, Inhambane, Mozambique
THE DEVELOPMENT VISION
DESIGN
Mozambique is a sought-after holiday destination and numerous developments have sprung up in the past 10 years.
We have found, however, that the design and finishing of holiday units are in stark contrast to the beauty of the natural surroundings.
Tartaruga Bay is a luxury private community, comprising of 14 unique villas, 60 Cabanas, club house with restaurant, reception, guests' parking and all the facilities required for luxurious coastal living.
The total area of the estate is 32 hectares with a generous area dedicated to common facilities.
The people of Bali have been living in the tropics next to the ocean for thousands of years. They have perfected the use of water and wind to create a living environment in harmony with nature. We visited Bali and adopted the best design ideas we could find - and then made them truly Mozambican to bring you the unique design of Tartaruga Bay.
Each spacious villa is fully furnished, has four bedrooms, air conditioning, DSTV, infinity swimming pool and boasts a large entertainment deck.
Inspired by luxury tropical vacation homes in Bali, Tartaruga Bay offers a sense of openness, contact with nature, and seclusion unmatched in any vacation home development in Mozambique.
We have redefined luxury coastal living in Mozambique.
NATURAL HARMONY
The area at Tartaruga Bay is a nature lovers dream come true:
Loggerhead Turtles
The beach directly in front of your villa is a nesting ground for the loggerhead turtle (Caretta
caretta). The females come out at night to lay their eggs in shallow nests laboriously excavated on the beach – the same beach where they hatched many decades ago.
Loggerhead turtles are classified as endangered by the International Union for the Conservation of Nature and are listed under Appendix I of the Convention on International Trade in Endangered Species. In the United States, the U.S. Fish and Wildlife Services and National Marine Fisheries Service classify them as a threatened species under the Endangered Species Act.
Today the main threat to the adult loggerheads lies in fishing nets to which many loggerheads annually fall victim. Furthermore, adults are often
Tartaruga Bay, Inhambane, Mozambique Page 14
injured by speedboat propellers and by swallowing fishing hooks or get caught in nets.
Internationally, animal protection organizations take pains to monitor and protect the turtles' nesting grounds in Turkey, Greece, Bonaire, and Costa Rica.
Manta Reef
Manta Reef, one of the world’s top 10 diving sites, is located a kilometer away, which means Tartaruga Bay is the resort. The reef boasts 3 manta ray cleaning stations where the mantas (Manta birostri) wait their turn to be serviced.
The reef is large and offers a great variety of dives ranging from 18m – 35m . It is located in the main current and sightings of manta and devil
rays are common. Whale sharks, sharks and various pelagic fish are
common.
Humpback Whales
Humpback whales (Megaptera novaeangliae) visit the bay every year to mate and calf. The humpback whale is found in all the major oceans, in a wide band running from the Antarctic ice edge to 65° N latitude, though not in the eastern Mediterranean or the Baltic Sea. There are at least 80,000 humpback whales worldwide, with 18,000-20,000 in the North Pacific, about 12,000 in the North Atlantic, and over 50,000 in the Southern Hemisphere, down from a pre-whaling population of 125,000.
Humpbacks are migratory, spending summers in cooler, high-latitude waters, but mating and calving in tropical and subtropical waters.
An exception to this rule is a population in the Arabian Sea, which remains in these tropical waters year-round. Annual migrations of up to 25,000 kilometers) are typical, making it one of the farthest travelling of any mammalian species.
A 2007 study identified seven individual whales wintering off the Pacific coast of Costa Rica as those which had made a trip from the Antarctic of around. Identified by
their unique tail patterns, these animals have made the longest documented migration by a mammal.
Whale sharks
Whale sharks are common in the area and divers regularly swim with this gentle giant.
The whale shark inhabits the world's tropic and warm-temperate seas.
While thought to be primarily pelagic, seasonal feeding aggregations of the sharks occur at several coastal cities such as Gladden Spit in Belize; Ningaloo Reef in Western Australia; Útila in Honduras; Donsol, Pasacao
and Batangas in the Philippines; off Isla Mujeres and Isla Holbox in Yucatan Mexico; Ujung Kulon National Park in Indonesia; Nosy Be in
Madagascar Off Tofo Reef in Mozambique, and the Tanzanian islands of Mafia, Pemba and Zanzibar.
Page 15 Tartaruga Bay, Inhambane, Mozambique
Although it is often seen offshore, it has also been found closer to shore, entering lagoons or coral atolls, and near the mouths of estuaries and rivers. Its range is generally restricted to about ±30 ° latitude. It is capable of diving to depths of 700 meters (2,300 ft), and is migratory.
Marine li fe
The shallow reefs are alive with a stunning variety of reef fish. Snorkel safaris are a perfect way to explore this breathtaking wonderland.
The deeper waters teem with game fish like tuna, kingfish, cuta and barracuda – a perfect haven for sport fishermen
OUR COMMITMENT TO CONSERVATION
We are committed to the environment and are creating new ways to employ local people to stop the raiding of turtle nests and ensure sustainable use of all natural resources.
We subscribe to the World Tourism Organisation’s Global Code of Ethics for Tourism 1999. It is our policy to ensure sustainable participation by all stakeholders in the interests of the tourist, the investors, the local community and the natural environment.
A DREAM DESTINATION
The Mozambican beaches are arguably the best in the world, with unspoilt natural beauty, great fishing and superb swimming.
Tartaruga Bay features exclusive beach-front and sea-facing villas in surroundings befitting the globe’s most coveted locales.
Lavish beachfront villas are of exotic Bali design and are a sublime testament of architectural brilliance, blending harmoniously with nature whilst simultaneously providing the
height of luxury befitting any luxury resort.
18 kilometers from Inhambane and 13 kilometers from the Inhambane International airport, the estate will be managed by professionals who will ensure that your property extracts maximum investment potential and runs without a glitch.
Tartaruga Bay, Inhambane, Mozambique Page 16
A CHOICE LOCATION
INHAMBANE PROVINCE
The Inhambane Province is still the most popular tourist destination in Mozambique.
Its magnificent attractions include the Bazaruto archipelago, Vilankulos, Morrungulo, Tofo, Jangamo, Paindane, Coconut Bay, Zavora and Ponta da Barra. According to a renowned travel writer: “The town of Inhambane with its well-kept colonial villas, wide clean avenues and
uncommercialised municipal market, is perhaps the nicest town in Mozambique” (Slater p.105-6). It is located 469km from Maputo by road and also accessible by air with the fly-in option becoming increasingly popular.
The number of tourists visiting Mozambique more than doubled between 2004 and 2008, rising from 711,000 to more than 1.5 million. The country that provides the greatest number of tourists is South Africa - particularly over the Xmas and New Year period, and during South African school holidays.
The number of hotel beds in the country has risen from only 10,000 in 2000 to 17,000 in 2009. Currently it is estimated that tourism contributes 2.5 per cent of the Gross Domestic Product, and that it has the potential to provide much more revenue, given that many of the country's tourist attractions are still under-exploited.
In 2007 revenue from international tourism was estimated at 163 million dollars, an increase of 17 per cent over the figure for 2006
South African Express Airways is extending its route network to include travel between Cape Town and Maputo as part of the airline's long-term strategy to create vital connections between local and regional destinations.
A new airline, Travelmax, will launch a scheduled service between Lanseria International Airport and Vilanculos, and Aroportos de Mocambique (ADM),
Mozambique’s privately owned Airport Company is now investing $US60-million to upgrade the country’s airport infrastructure
ESTATE LOCATION
Right on the magnificent and warm Indian Ocean, Tartaruga Bay is located 18 kilometers from the historic Inhambane City, the hub of tourism in Mozambique.
Barra, Tofo, Tofinho, Praia do Rocha, Coconut Bay and Guinjata are just a short drive away.
Page 17 Tartaruga Bay, Inhambane, Mozambique
GETTING THERE
Tartaruga Bay by Road
Departing from Distance Driving time
Maputo 500 km 7 hours Nelspruit 680 km 8 hours Johannesburg 1040 km 12 hours Pretoria 1060 km 13 hours Pietersburg 1100 km 13 hours
Tartaruga Bay by Air
Inhambane airport 23° 52' 32.72S 35° 24'30.02E
Departing from Carrier Approximate Cost Return South Africa
OR Tambo-Inhambane LAM US$ 522 (R3660) Durban – OR Tambo Various R 970 Cape Town – OR Tambo Various R 1 400 USA
Atlanta GA Various US 1 315 Europe London Various £ 480 Paris Various € 733 Asia/Pacific Singapore Various US $ 1 113 Tokyo Various Y 155 658
Prices quoted are subject to change without notice
TRANSFERS TO TARTARUGA BAY
Airport transfers by road, sea or by helicopter to our private Helipad can be arranged
Direct return flights are available from O. R. Tambo International airport in Johannesburg on Mondays, Wednesdays, Fridays and Sundays.
Charter flights can be arranged on request.
DESIGN AND APPOINTMENTS
Villa size is a luxurious 240 square meters exclusive of exterior living areas.
Furnishings, linen, décor and various appointments and equipment will be of the finest quality commensurate with the high standard of the resort.
Modern building methods are used to ensure top quality construction with a natural finish that complements the environment.
Tartaruga Bay, Inhambane, Mozambique Page 18
Also, in order to maximise your 180° ocean view the villas are elevated. This makes provision for safety should the oceans rise as predicted by global warming advocates.
To ensure that the villas remain pristine, a reserve fund from levies will be established for periodic furniture and fitting replacement
A complete list of the villa contents is at the back of this prospectus.
FLOOR PLAN
EXTERIOR
Each villa at Tartaruga Bay is sea facing and has been carefully situated to maximize privacy and make the most of the breathtaking ocean view that each villa enjoys.
The design elements of each villa combine the richness of tropical materials and colors with the essentials of contemporary design.
Ensuring a sense of freedom and privacy within each villa plot has been a primary goal in the design of the master plan and the villas.
The design is modern, tropical, and organic: a contemporary vision of space and design. Tartaruga Bay is a new vision of tropical architecture where the modern use of design and space are integrated with natural materials in complete harmony with the surrounding environment.
Page 19 Tartaruga Bay, Inhambane, Mozambique
Interior is uncluttered and open for optimal ocean resort living. Bathrooms with indoor bathtubs and outdoor showers surrounded by tropical vegetation are an ideal place to relax and contemplate the colors and perfumes of a tropical paradise.
Kitchens are fitted with quality appliances and fittings.
The entertainment room contains a large HD LCD flat panel television with music system and a HD DSTV receiver.
Wireless broadband internet is standard in all villas.
Tartaruga Bay, Inhambane, Mozambique Page 20
The deck overlooking the ocean
One of the day beds on the deck looking out on the ocean
Page 21 Tartaruga Bay, Inhambane, Mozambique
INTERIOR
Main Bedroom
Lounge
View from the lounge to the sea
Tartaruga Bay, Inhambane, Mozambique Page 22
The lounge and dining room
Main Bathroom
A
view from the open-air shower to the main bathroom
Page 23 Tartaruga Bay, Inhambane, Mozambique
CLUB NAUTILO
Club Nautilo is a shared facility and will comprise a large deck with infinity pool where guests can enjoy the stunning sea view, have ice-cold drinks and experience
cuisine that is unrivalled in the area.
Deck
A spacious deck with large infinity pool and pool bar is the ideal way to relax, meet friends and drink in the spectacular ocean views.
Soaking in the sparkling pool is the ideal way to plan your adventure-filled days.
Tartaruga Bay, Inhambane, Mozambique Page 24
View of pool and pool bar from the second deck
View from the second deck
Page 25 Tartaruga Bay, Inhambane, Mozambique
Activity Center
An activity center will coordinate various activities including scuba diving, whale watching, snorkeling, Kayaking, windsurfing, kite surfing and deep sea fishing
Spa
Our health and beauty spa will indulge you with
various relaxation and therapeutic treatments.
Each day, surrender to an intimate and invigorating spa of relaxing therapies imbued with indigenous seaweeds, salts, oils and muds.
Pool bar
A Bali-style pool bar will allow you to laze away hours in the pool with snacks and cocktails within arm’s reach.
Here the cool hours fly by while relaxing with ice-cold beverages or tasty meals – without leaving the water.
Restaurant
It is high time to set a new standard in Mozambican resort cuisine.
The restaurant and snack bar will offer mouthwatering Mozambican, Thai and other cuisine with fresh organic produce grown under strict supervision by the community.
Experienced chefs with a passion for quality cuisine will manage the restaurant and ensure a culinary adventure quality rarely experienced in Mozambique.
Spectacular views, unrivalled cuisine and superb quality – that is Club Nautilo.
Tartaruga Bay, Inhambane, Mozambique Page 26
View from the restaurant
Convenience store
A small shop with curious made by the locals, fresh bread and produce and other essentials will cater for visitor’s needs
Conference facility
Need to have a meeting during the fun? Club Nautilo has great conference facilities as well as full catering if required
In-house cuisine
At your request, a decadent in-house cuisine service will let the chef and his assistants come to your villa and prepare excellent cuisine especially for you on your own private deck.
Business centre
A small business centre with computers, printers, scanners, fax and internet access will provide for those times when you absolutely have to work.
Services
In addition, we will liaise with adventure service providers to organize your activities or arrange for transfers and purchases at Inhambane.
Reception will take your messages or send your faxes and emails so that you can be contacted – but only if you want to be.
Internet services are standard in the Villas and will be made available at on request at Clube Nautilo.
Page 27 Tartaruga Bay, Inhambane, Mozambique
ESTATE AMENITIES AND
SERVICES
The full list of amenities and services available to the guests at Tartaruga Bay will include:
• Fully serviced villas with ful--time emprigado (manservant)
• In-villa service of meals per arrangement with the resort operator;
• Laundry service
• Resort shop
• Spa
Other resort amenities include:
• Clube Nautilo with Serviced hospitality areas
• Activity centre
• Main beach
• Boat launching service
• Broadband Internet facilities
• Business center
• Conference facilities
• Convenience store
ESTATE ACTIVITY PROGRAMS
A full range of resort activity programs is designed to suit a wide range of guests include:
o Accredited scuba diving courses with qualified instructor/s o Kiteboarding courses o Scuba diving with a qualified dive master o Game or fly fishing on sport fishing boats with qualified skipper o Personal guided shore based fishing or fishing, snorkeling and picnics o Windsurfing, dhow and dinghy sailing o Whale-watching excursions (in season) o Local Community excursions o Cultural history and archaeological excursions o Kayaking o Bicycling o Horse riding, walking, quad, cycling and boat tours o Tours in all-terrain tourism vehicles or on motorbikes o Local arts and crafts o Thermal and therapeutic baths o Paragliding o Parachuting o Microlight flights o Surfing, windsurfing, body-boarding and wake-boarding o Water skiing o Sailing, rowing, and canoeing
Tartaruga Bay, Inhambane, Mozambique Page 28
THE LIFESTYLE ADVANTAGE
You need vacations in High season because you have children at school.
On the other hand, if you have no children at school and you prefer to go in the low season because that is when you can get off at work.
Now you can really have the time of your life.
Owners are entitled:
• For each 1/12th
right purchased: 30 days per annum ownership and use
• Use of all common facilities for the duration of the occupation as set out in the purchase agreement
• Membership of the Worldwide Exchange programme for one year, thereafter the option to continue with the programme.
Now you can really have the time of your life.
THE WORLDWIDE LUXURY
FRACTIONAL EXCHANGE PROGRAM
At Tartaruga Bay, thousands of luxury destinations around the world are your luxury escape options - this year in Algarve, next year in Bali, maybe a luxury cruise, then in Paris and the next year at Disneyland.
More and more vacation homeowners are discovering the new vacationing alternative of luxury home exchanging.
Vacation homeowners have all experienced the joy of having that special second or third home to go to for their holidays or summer breaks.
We will enroll you in the Exchange program at our own cost for the first 2 years. After that time, you can choose to continue at R2727 per term or cease to be a member of the exchange program.
See https://www.theregistrycollection.com/registry_portfolio/
Now you can leverage your share in Tartaruga Bay to travel to spectacular new luxury destinations when you want to try some place new.
Page 29 Tartaruga Bay, Inhambane, Mozambique
At Tartaruga Bay it is your choice to:
• Use your villa yourself and enjoy a luxury estate
• Let the Management Company rent it out - and earn rental income
or
• Exchange your home with a luxury destination elsewhere in the world
Tartaruga Bay.
Luxury. Freedom. Choice.
RENTAL POOL
A key component and benefit of the project is the Rental Pool.
Unused occupancy will be utilized by the Rental Pool in accordance with the Resort Rules and marketed by the Resort Operator locally, nationally and internationally.
It is possible for owners to completely redeem the share purchase price within 6-7 years this way.
MASTER PLAN
Luxury is one prerequisite. Even more powerful are location and privacy.
Tartaruga Bay is close enough to Inhambane but remote enough for peaceful seclusion. Each villa is surrounded by natural vegetation and uniquely located to ensure optimum privacy and scenic beauty.
Tartaruga Bay, Inhambane, Mozambique Page 30
CONSTRUCTION
The goal of sustainable design is to provide products and services in a way that reduces the use of non-renewable resources and reduces environmental impact.
Sustainable design is an essential means for achieving sustainability. Tartaruga Bay embraces this philosophy and it reflects in all facets of the project
The Tartaruga Bay construction philosophy is:
Page 31 Tartaruga Bay, Inhambane, Mozambique
• Low environmental impact
• Low maintenance
• Cutting-edge green construction methods
• Energy conservation
• Superior durability
ENVIRONMENTAL PROTECTION
BEACH PROTECTION
Tartaruga Bay is a sea turtle nesting area. We will provide special tractors for boat launching to minimize beach travel and damage to turtle nesting sites.
DUNE PROTECTION
Minimization of
internal roads
The use of internal roads, which cause extensive damage to dunes and are one of the major causes of erosion, are limited to service areas.
Luar Walkway
Instead of internal roads, extensive use is made of walkways on the project area. This minimizes dune destruction and erosion.
Guests will be provided with secure parking and will be taken to their villas with golf carts on the walkways. The walkway provides lookout points with comfortable seating and lighting for cool evening strolls.
GREEN DESIGN
Walls and roofs have superior insulation to maximize temperature retention and minimize air-conditioning electricity consumption.
Where possible, extensive use is made of solar energy and wind power.
Tartaruga Bay is an environmentally friendly coastal estate, designed for ecological protection and resource-efficiency.
Tartaruga Bay, Inhambane, Mozambique Page 32
Our buildings are designed to protect occupant health; improve employee productivity; use energy, water, and other resources more efficiently; and reducing the overall impact to the environment.
SITE PLACEMENT
� Sites have been placed to protect and retain existing landscaping and natural features. � Indigenous plants have low water and pesticide needs and generate minimum plant
trimmings. � Compost and mulches will be used to save water and time.
ENERGY EFFICIENCY
� Passive design strategies can dramatically affect building energy performance. These measures include building shape and orientation, passive solar design, and the use of natural lighting.
� Develop strategies to provide natural lighting. Studies have shown that it has a positive impact on productivity and well-being.
� Installation of high-efficiency lighting systems with advanced lighting controls. Include motion sensors tied to dimmable lighting controls. Task lighting reduces general overhead light levels.
� Use of a properly sized and energy-efficient heat/cooling system in conjunction with a thermally efficient building shell.
� Use of light colors for wall finish materials; install high R-value wall and ceiling insulation. � Minimize the electric loads from lighting, equipment, and appliances. � The use of alternative energy sources such as photovoltaics and fuel cells in certain areas.
MATERIALS EFFICIENCY
� Tartaruga Bay will use construction products that have been evaluated for reused and recycled content, zero or low harmful air emissions, zero or low toxicity, sustainably harvested materials, high recyclability, durability, longevity, and local production.
� ZincAlume thin metal frame construction has a 300-year+ lifetime expectancy and offers many benefits
� The use of engineered hardwood walkways and decks instead of indigenous hardwoods will:
a) conserve Mozambique’s hardwood trees
b) minimize maintenance
c) drastically extend the replacement cycle and
d) make use of recycled plastics
� Dimensional planning and other material efficiency strategies were employed. These strategies reduce the amount of building materials needed and cut construction costs.
� Reuse and recycling of construction and demolition materials. Inert demolition materials, will be used as a base course for a parking lot to keep materials out of landfills.
Page 33 Tartaruga Bay, Inhambane, Mozambique
� The use of concrete has been minimized to reduce waste and construction site damage
� Design incorporates adequate space to facilitate recycling collection and incorporate a solid waste management program that prevents waste generation.
� All fittings have been chosen for maximum rust resistance and minimum maintenance to ensure a long repair and replacement cycle.
WATER EFFICIENCY
• Use of or a gray water system that recovers rainwater or other nonpotable water for site irrigation.
• Minimisation of wastewater by using ultra low-flush toilets, low-flow shower heads, and other water conserving fixtures.
• Use of recirculating systems for centralized hot water distribution. • The installation of point-of-use hot water heating systems where required. • Landscaping will be kept to a bare minimum to avoid irrigation and excessive water use.
GUEST HEALTH AND SAFETY
• Construction materials and interior finish products with zero or low emissions were chosen to improve indoor air quality
• Cooling systems will ensure adequate ventilation and proper filtration to have a dramatic and positive impact on indoor air quality.
Indoor microbial contamination will be prevented through selection of materials resistant to microbial growth, provide effective drainage from the roof and surrounding landscape, install adequate ventilation in bathrooms, allow proper drainage of air-conditioning coils, and design other building systems to control humidity.
BUILDING OPERATION AND MAINTENANCE
• Commissioning will include testing and adjusting of mechanical, electrical, and plumbing systems to ensure that all equipment meets design criteria.
• Staff will be trained on the operation and maintenance of equipment. • Building performance will be assured through measurement, adjustment, and upgrading. • Proper maintenance will ensure that buildings continue to perform as designed and
commissioned.
CONSERVATION
� Minimum damage of dune flora will be done through the use of raised decks and walkways
� To prevent erosion of the fragile dune flora no internal roads will be constructed except for a boat launching avenue that guests will not be allowed to use.
� Because the Tartaruga Bay beach is a Turtle nesting site, a Conservation Committee has been established to:
� police and prevent poaching of turtles and eggs � monitor and prevent spearfishing and netting by locals on the reefs
Tartaruga Bay, Inhambane, Mozambique Page 34
� keep the beach clean
FARMING
Tunnel farming of fresh herbs and vegetables will provide for guest and restaurant requirements.
The produce from these tunnel will be grown:
� without pesticides
� using vermiculture for compost
MORE EXPENSIVE , BUT WORTH
IT
A green resort costs more during the construction phase saves through lower operating costs by applying a project life cycle cost analysis.
An integrated systems approach ensures that the building is designed as one system rather than a collection of stand-alone systems.
EXCLUSIVE VS FRACTIONAL INTERESTS
Of the villas over which fractional ownership rights are created;
• in all the villas and cabanas a maximum of 12 fractional ownership interests are offered for sale. The balance will be retained by the developer and used for maintenance.
• villas and cabanas are also offered as exclusive interests where a single purchaser buys all 12 fractions i.e. the full annual use right in a single villa or cabana.
FRACTIONAL OWNERSHIP VS TIMESHARE
Other than the way you share use of the property, these two concepts have vast differences.
Fractionals are far more exclusive and include many more luxury amenities and services than timeshares. They tend to be larger homes, usually three to five bedrooms so there is plenty of room for family, friends or clients.
Page 35 Tartaruga Bay, Inhambane, Mozambique
Timeshare Fractional Ownership What you buy Timeshare buys usage time
of a holiday unit Fractional Ownership buys an appreciating asset
Ownership Never owned by member Owned by shareholder
Property value Does not increase Increases as property values increase
Market Lower to Middle Middle to upper level
Investment growth Value decreases Value grows
Resale Can be sold, limited options Can be sold at any time. Minimum contractual limits.
Supply Higher than demand, limited availability
Your share is always yours
Commissions Brokerage commissions of up to 60%
7-10%. As with any property transaction, paid by the seller
FRACTIONAL OWNERSHIP ADVANTAGES
Ownership will allow the use of the property for the number of weeks purchased on a rotational basis within the specific season. The weeks are predetermined on a schedule and will advance two consecutive weeks. The rotation will take place once a year within the share classification season (low, medium or high). It is possible to swap dates or combine weeks. This is done at the discretion of the share owners.
Fractional Ownership offers a practical and affordable solution to ownership and enjoyment of this unique luxury resort.
The benefits are considerable:
• Few people make use of a second property or holiday home all year round. Fractional Ownership offers buyers the perfect solution – you only pay for what you use.
• It offers more affordable ownership in exclusive leisure destinations as costs are shared. The majority of people would otherwise not be able to afford a second leisure property.
• Buyers can invest in more than one leisure property in different locations at the same cost as one single property.
• Conventional property investment would cost many times more.
• Minimal capital outlay is required whilst enjoying maximum benefit in select locations.
• The burden and cost involved in maintaining and managing the property is shared among the owners and managed by professionals.
• Rental income can be earned if weeks you do not use are rented out. This task is also handled by the management company.
• Buyers can exchange weeks amongst themselves to suit their individual needs and requirements.
• Limited security concerns as result of on-site management, security services and higher occupancy.
Tartaruga Bay, Inhambane, Mozambique Page 36
• Buyers can sell their share/s in the property at the then current property market value at any time.
• Buyers invest in an asset with capital growth.
• As an individual it would be virtually impossible for you to obtain rights to construct a vacation home on within a national park and marine reserve.
• The all-in cost of participation in the Fractional Ownership scheme for Tartaruga Bay is far less expensive than staying at an equivalent conventional resort.
• Leisure destinations - because of the great demand - increase in value much faster than average residential properties.
• Fractional ownership has been the fastest growing sector in the property markets in both the U.S.A. and Europe in the last 3 years.
• It is a shared view of the local industry leaders that Fractional ownership will far outstrip residential values and be the fastest growing sector of the S.A. property market in the next 3 years.
• Most fractional property values grow by at least 20% plus per annum, while some have grown by almost 30% per year.
In this projection we used conservative growth estimates:
• If these conservative projections are correct, your share value could
• that only the managing agent may rent out
a unit since the Mozambican government
have to receive tax on all rentals (17%) and
monitors this closely.
• The developer will charge a further 13%
administration fee.
• The result is that the rental pool operates
at a 30% commission that will be deducted
from the rental income with the balance
paid out to the owner.
Best of all, the world is your luxury playground with the Exchange Program which allows you to
exchange with other selected luxury destination worldwide.
Page 37 Tartaruga Bay, Inhambane, Mozambique
PRICE LISTS AND OWNERSHIP COSTS
R 11.1950 $1 €0.7904 £0.6224 ¥108.2820 ¥6.1390
Exchange
Rates as on XRates as
on 8-Oct-14
Villas ZAR US$ EUR GBP JPY CNY
January R 483,600 $43,200 €34,100 £26,900 ¥4,677,800 CN¥265,200
February R 429,900 $38,400 €30,400 £23,900 ¥4,158,000 CN¥235,700
March R 537,400 $48,000 €37,900 £29,900 ¥5,197,500 CN¥294,700
April R 644,800 $57,600 €45,500 £35,900 ¥6,237,000 CN¥353,600
May R 591,100 $52,800 €41,700 £32,900 ¥5,717,300 CN¥324,100
June R 429,900 $38,400 €30,400 £23,900 ¥4,158,000 CN¥235,700
July R 483,600 $43,200 €34,100 £26,900 ¥4,677,800 CN¥265,200
August R 591,100 $52,800 €41,700 £32,900 ¥5,717,300 CN¥324,100 Septembe
r R 429,900 $38,400 €30,400 £23,900 ¥4,158,000 CN¥235,700
October R 483,600 $43,200 €34,100 £26,900 ¥4,677,800 CN¥265,200
November R 644,800 $57,600 €45,500 £35,900 ¥6,237,000 CN¥353,600
December R 698,600 $62,400 €49,300 £38,800 ¥6,756,800 CN¥383,100 Exclusive
Ownership $5,481,100 $489,600 €387,000 £304,700 ¥53,014,900 CN¥3,005,700
Cabanas
January R 322,400 $28,800 €22,800 £17,900 ¥3,118,500 CN¥176,800
February R 286,600 $25,600 €20,200 £15,900 ¥2,772,000 CN¥157,200
March R 358,200 $32,000 €25,300 £19,900 ¥3,465,000 CN¥196,400
April R 429,900 $38,400 €30,400 £23,900 ¥4,158,000 CN¥235,700
May R 394,100 $35,200 €27,800 £21,900 ¥3,811,500 CN¥216,100
June R 286,600 $25,600 €20,200 £15,900 ¥2,772,000 CN¥157,200
July R 322,400 $28,800 €22,800 £17,900 ¥3,118,500 CN¥176,800
August R 394,100 $35,200 €27,800 £21,900 ¥3,811,500 CN¥216,100
September R 286,600 $25,600 €20,200 £15,900 ¥2,772,000 CN¥157,200
October R 322,400 $28,800 €22,800 £17,900 ¥3,118,500 CN¥176,800
November R 429,900 $38,400 €30,400 £23,900 ¥4,158,000 CN¥235,700
December R 465,700 $41,600 €32,900 £25,900 ¥4,504,500 CN¥255,400 Exclusive
Ownership R 3,654,000 $326,400 €258,000 £203,200 ¥35,343,200 CN¥2,003,800
Tartaruga Bay, Inhambane, Mozambique Page 38
Private Hangars
January R 90,700 $8,100 €6,400 £5,000 ¥877,100 CN¥49,700
February R 80,600 $7,200 €5,700 £4,500 ¥779,600 CN¥44,200
March R 100,800 $9,000 €7,100 £5,600 ¥974,500 CN¥55,300
April R 120,900 $10,800 €8,500 £6,700 ¥1,169,400 CN¥66,300
May R 110,800 $9,900 €7,800 £6,200 ¥1,072,000 CN¥60,800
June R 80,600 $7,200 €5,700 £4,500 ¥779,600 CN¥44,200
July R 90,700 $8,100 €6,400 £5,000 ¥877,100 CN¥49,700
August R 110,800 $9,900 €7,800 £6,200 ¥1,072,000 CN¥60,800
September R 80,600 $7,200 €5,700 £4,500 ¥779,600 CN¥44,200
October R 90,700 $8,100 €6,400 £5,000 ¥877,100 CN¥49,700
November R 120,900 $10,800 €8,500 £6,700 ¥1,169,400 CN¥66,300
December R 131,000 $11,700 €9,200 £7,300 ¥1,266,900 CN¥71,800 Exclusive
Ownership R 1,027,700 $91,800 €72,600 £57,100 ¥9,940,300 CN¥563,600
Boathouses
January R 35,300 $3,150 €2,500 £2,000 ¥341,100 CN¥19,300
February R 31,300 $2,800 €2,200 £1,700 ¥303,200 CN¥17,200
March R 39,200 $3,500 €2,800 £2,200 ¥379,000 CN¥21,500
April R 47,000 $4,200 €3,300 £2,600 ¥454,800 CN¥25,800
May R 43,100 $3,850 €3,000 £2,400 ¥416,900 CN¥23,600
June R 31,300 $2,800 €2,200 £1,700 ¥303,200 CN¥17,200
July R 35,300 $3,150 €2,500 £2,000 ¥341,100 CN¥19,300
August R 43,100 $3,850 €3,000 £2,400 ¥416,900 CN¥23,600
September R 31,300 $2,800 €2,200 £1,700 ¥303,200 CN¥17,200
October R 35,300 $3,150 €2,500 £2,000 ¥341,100 CN¥19,300
November R 47,000 $4,200 €3,300 £2,600 ¥454,800 CN¥25,800
December R 50,900 $4,550 €3,600 £2,800 ¥492,700 CN¥27,900 Exclusive
Ownership R 399,700 $35,700 €28,200 £22,200 ¥3,865,700 CN¥219,200
Levies per month
Villas R 1,101 $98 €78 £61 ¥10,648 CN¥604
Cabanas R 605 $54 €43 £34 ¥5,856 CN¥332
Private Hangars R 121 $11 €9 £7 ¥1,169 CN¥66
Boathouses R 40 $4 €3 £2 ¥390 CN¥22
Page 39 Tartaruga Bay, Inhambane, Mozambique
The annual cost of fractional ownership is structured to benefit investors seeking a return on investment principally in the form of a quality vacation lifestyle.
Entitlement may only be used if levy payments are up to date.
Income from the levies are used for:
� administration costs and taxes, salaries, insurances, security, services, professional fees and any other standard operational expenses
� a capital reserve fund contribution to be utilised as a replacement reserve and maintenance to ensure villas remain as luxurious as the day you moved in
� a local community fund contribution of 5% of levies is required by Mozambican law.
Levies will be revised annually and increased in line with the inflation rate.
TRANSFER FEES
The costs attendant upon the notarization and transfer of Fractional Ownership rights, including the costs of transfer of shares into the name of the purchaser and any costs of translation of the documentation shall be for the account of the purchaser and shall not exceed US$500.
The transfer of real Fractional Ownership rights is exempt from real property transfer tax (SISA).
APPRECIATION OF INVESTMENT
Most fractional property values grow by at least 20% plus per annum, while some have grown by almost 30% per year.
In the following projection, we used conservative growth estimates.
If these conservative projections are correct, your share value could almost double in 3-4 years.
Ownership Property Value Growth
Purchase 2015 2016 2017 2018 2019
Villa Annual growth
% 12% 14% 15% 14% 13%
Exclusive Ownership $5,481,100 $6,138,832 $6,998,268 $8,048,009 $9,174,730 $10,367,445 Average one-twelfth ownership price $48,000 $53,760 $61,286 $70,479 $80,346 $90,792
Tartaruga Bay, Inhambane, Mozambique Page 40
RESORT MARKETING, MANAGEMENT & OPERATIONAL APPROACH
It is vital to the purchaser of any fractional ownership right that ultimate quality of vacation that he experiences will be in accordance with the standard promised.
You do no maintenance, repairs or work on your property while you are on vacation at Tartaruga Bay. Tartaruga Bay will be managed by the Legacy Hotels and resorts which manages 24 4- and 5 star hotels, bush lodges, leisure resorts and casino resorts in key tourism and business locations throughout Africa and is expanding into the emerging European and Middle Eastern markets. See http://www.legacyhotels.co.za
Tartaruga Bay operations are paid for by the levies each shareholder contributes. This includes all costs pertaining to the project including salaries, maintenance, insurance, housekeeping, security, fuel and electricity.
We have made every effort to conceive, design and specify an exceptional tropical lifestyle vacation. The same care was taken with regards to the choice of the operations and marketing brand.
Tartaruga Bay will be managed in terms of a contractual arrangement between Tartaruga Bay Investments (SA) and Legacy Hotels and resorts to provide superb resort management and booking services.
6-WAY FUND PROTECTION
Your funds are protected in 6 ways
PURCHASER AMOUNT INSURANCE
Your purchase amount is insured– so your investment is safe.
Get more information from Tjaart van der Walt at Indemnus (011) 391-2118 and also see the resources section on the web site
Your money is fully insured by Chartis, an international Insurance company which insures:
Page 41 Tartaruga Bay, Inhambane, Mozambique
• 90 of the top 100 UK companies
• 85% of top Italian companies
• 80% of top Danish companies
• Was voted best insurer in South Africa in 2008
INSURED TRUST ACCOUNT
The interest-bearing Trust Account at Kruger Moeletsi is insured according to South African Law – and it is interest bearing.
Kruger Moeletsie have achieved various awards over the years for efficient trust fund management.
Some more good news: while your purchase amount is in the trust account, it earns interest for you.
MOZAMBIQUE GOVERNMENT GUARANTEES
In order to qualify as a fractional ownership estate the Mozambican Government requires various sureties to protect owners.
Mozambique Article Decree 39/2007 Article 9 Insurance
The Article 9 Bond is a legal requirement in Mozambique that guarantees that
• The Project is finished on time
• Repayment of purchaser amount is possible upon developer withdrawal
Mozambique Article Decree 39/2007
Article 33 Bond
The Article 33 Reserve Fund is a legal requirement that ensures that your villa remains as luxurious as the first day you enjoyed it
Mozambique Article Decree 39/2007
Article 35 Bond
The Article 35: Performance Bond ensures good management and maintenance of the project
MORE RETURN ON YOUR MONEY
Current returns
According to ABSA Bank, home value growth in 2012 will be 2.19%
The Current nominal fixed interest rate at FNB is 6.6% for an investment over 5 years
In contrast, the Mozambique leisure property at an estimated grows 15-19% per annum.
The result is that your share value may grow at least 3 times faster than keeping your money in traditional places.
RENTAL INCOME
In addition to growing rapidly, your share will generate a passive income through normal income from renting out to holidaymakers when you do not use your occupation right yourself.
Tartaruga Bay, Inhambane, Mozambique Page 42
PROTECTED TRUST FUND
� Release of funds to the developer are controlled by 4 highly qualified, independent Trust Fund Managers:
o I. Lief 079 8992 176 o J. Hugo 083 2262 009 o J. Putter 082 3396 622 o H. Bosua 083 4250 408
� Payment is only approved: o In strict accordance with the Development Plan o When certified by the Project Manager o Supervised by Tartaruga Bay Investments attorneys o Certified by project professionals such as Quantity Surveyors and Architects o Overseen by the developer
COMPANY STRUCTURES
The company structures are as follows:
• Tartaruga Bay Investments is the development company, registered in South Africa, and is the marketer of the fractional ownership rights over the resort
• Tartaruga Bay (LDA) is incorporated in Mozambique and is the owner of the land rights to Tartaruga Bay. It is the guarantor of fractional ownership rights over the resort and has ceded all sellable rights in the estate to Brisa Livre SA.
• Brisa Livre (SA) is the holder of the sellable shares in Tartaruga Bay
• Tartaruga Lazer (LDA) to be incorporated in Mozambique will be the resort operating company
Page 43 Tartaruga Bay, Inhambane, Mozambique
CONSTRUCTION
Completion estimates
Infrastructure
Gate Jun 15 Phase 1
Roads Jun 15 Phase 1
Walkway Jun 15 Phase 1
Electrical Jun 15 Phase 1
Water Jun 15 Phase 1
Sewerage Jun 15 Phase 1
Staff housing Jun 15 Phase 1
Service areas Jun 15 Phase 1
Joia do Mar Jun 15 Phase 1
Club Nautilo Jun 15 Phase 1
Permanent storage Jun 15 Phase 1
Name Completion Phase
m1: Vila Espadarte May 16 Phase 2
m2a: Cabana Perola Do Mar May 16 Phase 2
m3a: Cabana Estrela Do Mar May 16 Phase 2
m4a: Cabana Mexilhão May 16 Phase 2
m5a,b&c: Cabanas Galo do Mar Jun 15 Phase 1
m6: Vila Espadim Azul Jun 15 Phase 1
m7a: Cabana Peixe Voador Jun 15 Phase 1
m8: Vila Cherne Vermelho Jun 15 Phase 1
m9a: Cabana Marreco Jun 15 Phase 1
m10: Vila Solha da Rocha Jun 15 Phase 1
m11a&b: Cabanas Pescadinha Jun 15 Phase 1
m12a&b: Cabanas Sol Alaranjado May 16 Phase 2
m13a&b: Cabanas Ouriço do Mar May 16 Phase 2
m14a&b: Cabanas Madrugada May 16 Phase 2
m15a&b: Cabanas Dorado May 16 Phase 2
m16a&b: Cabanas Praia Dourada May 16 Phase 2
m17a,b&c: Cabanas Pôr do Sol May 16 Phase 2
s1: Vila Alto Mar Jun 15 Phase 1
s2a: Cabana Pelicano Jun 15 Phase 1
s3: Vila Albatroz Jun 15 Phase 1
s4a&b: Cabanas Da Paz Jun 15 Phase 1
s5: Vila Vento de Verão Jun 15 Phase 1
s6a: Cabana Gaivota Jun 15 Phase 1
s7: Vila Luz do Sol Jun 15 Phase 1
s8a&b: Cabanas Doce Jun 15 Phase 1
s9: Vila Brisa Morna Jun 15 Phase 1
s10a&b: Cabanas Chuva Suave Nov 16 Phase 4
s11a,b&c: Cabanas Novo Aventura Nov 16 Phase 4
s12a&b: Cabanas Mar Azul Nov 16 Phase 4
s13a&b: Cabanas Nova Liberdade Nov 16 Phase 4
s14a&b: Cabanas Pescador Nov 16 Phase 4
Tartaruga Bay, Inhambane, Mozambique Page 44
c1: Vila Alba Graça Nov 15 Phase 2
c2a&b: Cabanas Céu Aberto Nov 15 Phase 2
c3: Vila Da Boa Gente Nov 15 Phase 2
c4a&b: Cabanas Anastacia Nov 15 Phase 2
c5: Vila Giovanni Nov 15 Phase 2
c6a&b: Cabanas Giuseppe Nov 15 Phase 2
c7: Vila Amadeus Nov 15 Phase 2
c8a&b: Cabanas Novo Vida Nov 15 Phase 2
c9: Vila Alegria Nov 15 Phase 2
c10a&b: Cabanas Amorim May 16 Phase 2
c11a&b: Cabanas Bela Rosa May 16 Phase 2
c12a&b: Cabanas Céu Azul May 16 Phase 2
c13a&b: Cabanas Ana Ligia May 16 Phase 2
c14a&b: Cabanas Promessa May 16 Phase 2
LAND OWNERSHIP IN MOZAMBIQUE
Land tenure in Mozambique does not take the form of ownership, but of use rights. In the case of small-scale farmers, that right is free of charge. A 1997 land law acknowledges that land tenure rights of local communities and of individuals who, in good faith, have occupied the land for at least ten years.
Companies and individuals wishing to acquire land for commercial purposes must first hold consultations with the local community and obtain a written opinion from the district administrator. Only then can they obtain authorization to use the land.
While the legal system recognizes and protects property rights to buildings and movable property, private ownership of land is, however, not allowed in
Mozambique. The government grants land-use concessions for periods of up to 50 years, with options to renew, and has at times granted overlapping land concessions.
Excluded from the 50-year grant are projects that are approved by the Government for fractional ownership. The
rights granted in this way are perpetual, which means your
investment is your for ever.
Foreigners are able to apply for a land concession if they have a registered property in Mozambique. The government hopes that by allowing private land concessions, there will be
increased investment in production and employment creation in the rural areas of the country.
LEGAL FRAMEWORK FOR FRACTIONAL OWNERSHIP RIGHTS
A relatively recent development in Mozambique centers around Decree 39/2007 of 24 August which deals with the Regulations on the Right of Periodic Habitation.
Page 45 Tartaruga Bay, Inhambane, Mozambique
This law regulates and entrenches multiple-ownership property rights for the first time in Mozambique. As a properly accredited scheme, purchasers of fractional ownership rights in Tartaruga Bay are assured that:
• The project holds legal land title
• The right purchased is:
o properly constituted and registered in terms of Mozambican law o can be legally transferred and encumbered;
• The project is
o recognized by the regulating authorities o properly established and compliant in terms of Mozambican law;
• The purchaser of such a right:
o enjoys certain immutable rights in terms of disclosure o has right of withdrawal o has certain legal
obligations to perform. These obligations are imposed both on the developer and the purchaser.
This law provides for the constitution of fractional ownership schemes by public deed in the form of the Articles of Association of the company creating these rights. In addition to the normal articles contained in this sort of document, the elements of the fractional ownership scheme must be set out together with the relationships of company shares to the use rights created.
Furthermore, this decree stipulates that the exercise and enjoyment of the use rights over the resort by the right-holder must be governed by the terms and conditions of a Use and Services Agreement and Resort Rules that must be registered along with the Articles of Association of the company and acceded to by each right-holder.
Fractional ownership rights pertain to the share in the Villa purchased and use rights pertain to amenities.
PURCHASE & LEGAL COMPLIANCE
Persons wishing to purchase an interest in Tartaruga Bay should complete a Fractional Ownership Reservation Form (which is non-binding) and return it to the Marketing and Sales office or an appointed 3rd party broker. On receipt of the completed form, a right in your preferred Villa will be reserved in your name for a period of 21 days and the necessary documentation will be prepared and forwarded to you for your scrutiny.
Such a purchase is concluded by means of a Contract of Sale and Transfer of Real Fractional Ownership Rights entered into between 2 or 3 parties:
• You, the Purchaser (who may be any natural or legal person or persons);
Tartaruga Bay, Inhambane, Mozambique Page 46
and
• Tartaruga Bay LDA which has ceded the villa rights to Brisa Livre SA
• Brisa Livre SA, the Company which owns the fractional land rights and the improvements and guarantees the rights of the right-holder
As part of this Contract of Sale and Transfer of Real Fractional Ownership Rights, a Use and Services Agreement and the Resort Rules are appended as schedules. These agreements were concluded between the Seller and the Company at the time when the Seller purchased the use rights to the resort. This Use and Services Agreement forms part of the document known as the Constitutive Instrument of the Fractional Ownership Scheme for Tartaruga Bay are registered with the authorities in Mozambique as part of the official accreditation process.
Any purchaser has 10 days from signature of the Contract of Sale and Transfer of Real Fractional Ownership Rights in which to withdraw from the agreement and may not pay any money to the Seller prior to this time.
Only 12 fractions are allowed per unit. Purchasers who purchase 4 weeks and more will receive a fractional ownership certificate and other purchasers will receive a share certificate In Brisa Live LDA. The rights and durations for both will be identical.
Once the withdrawal period has expired, a sworn Portuguese translation of the Contract of Sale and Transfer of Real Fractional Ownership Rights, signed by the parties, is notarised in Mozambique in order to legalise the contract.
On performance of the payment obligations by the right-holder and completion of transfer, the Seller will:
• issue the Company shares to the Purchaser; and
• issue to the Purchaser, the real Property Registration Certificate in respect of the Fractional Ownership Right purchased; and
• cede the Use Agreement to the Purchaser in respect of the entitlement purchased.
INVESTMENT GUARANTEES
The Government of Mozambique subscribes to the following international investment agreements:
• The security and legal protection of property, rights and other assets;
• Unrestricted import and repayment of loan and equity investment capital
• Repatriation of dividends, profits and capital;
• Liberalized banking and foreign exchange;
• Investment dispute resolution under ICC or ICSID arbitration
• Investment risk insurance under MIGA and OPIC facilities.
TREATIES AND BILATERAL
AGREEMENTS
• New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards
• Cotonou Agreement
Page 47 Tartaruga Bay, Inhambane, Mozambique
INVESTMENT PROTECTION CONVENTIONS
Alger, Denmark, Egypt, France, Germany, Netherlands, OPIC, Indonesia, Italy, Mauritius, People’s Republic of China, Cuba, Portugal, South Africa, Sweden, Switzerland, USA and Zimbabwe
DOUBLE TAXATION TREATIES
Portugal, Mauritius, Italy and United Arab Emirates
INVESTMENT INCENTIVES
General Benefits
• Exemption from import duties on goods in customs tariff class “K”
• Exemption on Stamp duty on company incorporation
• 50% Reduction on the rate of real property transfer (SISA)
• Investment tax credit varying from 5% to 15% of total investment
• Deductible expenditure on advanced technology, professional training and construction of infrastructures of public utility
• Accelerated depreciation
Special Fiscal Benefits for Hotel and Tourism
• Exemption from import duties on goods in customs tariff class “K”
• Exemption on Stamp duty on company incorporation
• 50% Reduction on the rate of real property transfer (SISA)
• Investment tax credit varying from 8% to 18% of total investment
• Deductible expenditure on advanced technology, professional training and construction of infrastructures of public utility
• Accelerated depreciation (3 times normal rate)
COMMUNITY DEVELOPMENT
We believe that handouts create beggars – but empowerment creates entrepreneurs.
The community has obtained food from the ocean for centuries.
To prevent the over-fishing of the reefs and plundering of turtle znests, we want to give the community an alternative to generating income.
Approach
We will achieve this by:
• Stimulating the economy of the area in which the project is situated by enhancing tourism - which is the largest biggest growing income generator in the world.
• Providing inward investment into the region
• Creating the job opportunities so desperately needed
Tartaruga Bay, Inhambane, Mozambique Page 48
• Empowering people through human upliftment, development, skills training and education.
• Providing the capacity for entrepreneurs to develop through the creation and development of Small Micro and Medium Business Enterprises
The Tartaruga Bay development is based on our tripartite principle being:
• Social acceptability
• Environmental sustainability
• Financial viability
Each one of these principles is interdependent and one cannot exist without the other. They form a cohesive and synergistic relationship
Creation of subprojects
We will establish various projects, which will primarily support the core development project. These include a bakery, fresh produce, chickens, eggs and fishing.
These projects will be managed by resort management to ensure smooth operation, planning and production.
The produce of subprojects will be primarily for project use. Produce not used by the project will be sold on the market.
FAQS
WHAT IS FRACTIONAL OWNERSHIP?
Fractional ownership is a method of co-owning a single valuable asset by more than one individual or entity.
It is a legal entity through which a number of investors become shareholders and owners of a leisure property.
The costs and usage of the property is shared among the shareholders in relation to the percentage shareholding.
The shareholders are the owners of the property, and therefore control all aspects of the property through a private company.
Shareholders utilize the property by means of a shareholders’ agreement. For example, an 8% share would allow 4 weeks usage per annum
This investment method offers the most favourable and optimal combination of leisure lifestyle, investment, and property ownership, by offering a share in an high-value, appreciating asset at a fraction of the cost – without the burden of management and maintenance.
Owners own a percentage of the property - an appreciating asset which can be used as collateral, sold or left to others in a will.
WHAT ARE THE BENEFITS OF FRACTIONAL OWNERSHIP?
More and more people are realizing that the benefits of Fractional Ownership are significant:
Page 49 Tartaruga Bay, Inhambane, Mozambique
• Few people make use of a second property or holiday home all year round. Fractional Ownership offers you the perfect solution - you only pay for what you use.
• It offers more affordable ownership in exclusive leisure destinations as costs are shared. Majority of people would otherwise not be able to afford a second leisure property.
• You can invest in more than one leisure property in different locations at the same cost as one single property.
• Conventional property investment would cost at least 13 times more. • Leisure destinations, because of
demand, increase in value much faster than average residential properties.
• Minimal capital outlay whilst enjoying maximum benefit in select locations.
• The burden and cost involved in maintaining and managing the property is shared among the owners and managed by professionals.
• Rental income can be earned if weeks not utilized are rented, also a task handled by professionals.
• You can exchange your time slots with co-owners.
• Limited security concerns as result of maximum usage and higher occupancy, and secure estates / developments.
• You can sell your share in the property at the current property market value at any time. • You invest in property with capital growth. • Limited surety • Owning a holiday destination as opposed to renting it
ARE FRACTIONAL OWNERSHIP AND TIMESHARE THE SAME?
No. The only similarity is that more than one party is involved in the property.
The advantages of Fractional Ownership over timeshare are as follows:
Timeshare and Fractional Ownership comparison
Timeshare Fractional Ownership
What you buy Timeshare buys usage time of a holiday unit
Fractional Ownership buys an appreciating asset
Ownership Never owned by member Owned by shareholder
Property value Does not increase Increases as property values increase
Market Lower to medium level Middle to upper level
Investment growth Value decreases Value grows
Resale Can be sold, limited options Can be sold at any time with contractual limits.
Supply Higher than demand, limited availability
Your share is always yours
Commissions Brokerage commissions of up to 60% 7-10%. As with any property transaction, paid by the seller
HOW DOES FRACTIONAL OWNERSHIP WORK?
The concept is perhaps best demonstrated by way of example:
Tartaruga Bay, Inhambane, Mozambique Page 50
• 12 Investors each purchase 8.3% (one twelfth) of the shares (total of 100%) in a company which owns a leisure property.
• In return, each receives 8.3% share in the property, as well as 4 weeks a year (with some time left over for maintenance) at different periods at an exclusive holiday destination.
• The share owners share the cost of maintenance and repair
• As the property increases in value, the value of the owner's shares also automatically increases.
• If a share owner does not use his time, the property is let to create income for the share owner
HOW DOES IT WORK IN MOZAMBIQUE?
At present, the state owns all the ground in Mozambique.
There are a two ways to own fractional ownership in Mozambique:
� the right way:
• The project is approved by Mozambican Department of Tourism and has Mozambique Government approval in terms of Decree 39 of 2007
• You have South African Reserve Bank clearance
Advantages
• Your ownership is perpetual and your children's children will still enjoy your investment
• If you decide to sell your share, you can repatriate your profits to South Africa
� the wrong way
• Your developer does not have South African Reserve Bank clearance
• The development is approved by Mozambican Department of Tourism but
not with regards to Decree 39 of 2007
• You do not have to apply for South African Reserve Bank clearance
Disadvantages
• Your share ownership is only for 49 years renewable by a further 40. That means that your children's children will have to buy their own holiday home
• If you decide to sell your share, you cannot repatriate your profits to South Africa - except, of course, by bringing it over the border in a brown paper bag
WHAT HAPPENS IF I CANNOT USE MY SHARE?
The management company will rent out your share through professional service providers to generate income for you.
Page 51 Tartaruga Bay, Inhambane, Mozambique
You can also choose to allow the whole share week to be let by the management company. In this way, the investment can be recovered within 7 years - and this while your investment increases substantially.
It will work like this at 50% occupation:
Exclusive Villa Ownership
Average Rate pppn $230
Average Rate per night, pax 5 $1,150
Ownership Investment Amount $489,600
Owned Days per year 360
Annual value based on daily rate $414,000
Monthly levies $98
10%
Occupation 50%
Available Rental
Days after owner use
Rental Amount
Escalation per year
Rental Income
10% Travel Agency
fee 17% Govt
levy
13% Rental Pool
Admin Fee Levies Owner's Income
Cumulative Owner's Income ROI
Year 1 180 $1,150 12% $207,000 $20,700 $35,190 $26,910 $1,180 $123,020 $123,020 25%
Year 2 180 $1,288 12% $231,840 $23,184 $39,413 $30,139 $1,322 $137,782 $260,802 28%
Year 3 180 $1,443 12% $259,661 $25,966 $44,142 $33,756 $1,480 $154,316 $415,119 32%
Year 4 180 $1,616 12% $290,820 $29,082 $49,439 $37,807 $1,658 $172,834 $587,953 35%
Year 5 180 $1,810 12% $325,719 $32,572 $55,372 $42,343 $1,857 $193,574 $781,527 40%
Year 6 180 $2,027 12% $364,805 $36,480 $62,017 $47,425 $2,080 $216,803 $998,331 44%
Year 7 180 $2,270 12% $408,581 $40,858 $69,459 $53,116 $2,329 $242,820 $1,241,150 50%
$1,679,84
4
Exclusive Cabana Ownership
Average Rate pppn $230 Average Villa Rate per night, pax 2.5 $575
Beachfront Cabana Investment Amount $326,400
Owned Days per year 360
Annual value based on daily rate $207,000
Monthly levies $54
10%
Occupation 50%
Available Rental Days after owner use
Rental Amount
Escalation per year
Rental Income
10% Travel Agency
fee
17% Govt levy
13% Rental Pool Admin
Fee Levies Owner's Income
Cumulative Owner's Income ROI
Year 1 180 $575 12% $103,500 $10,350 $17,595 $13,455 $649 $61,451 $61,451 19%
Year 2 180 $644 12% $115,920 $11,592 $19,706 $15,070 $727 $68,825 $130,276 21%
Year 3 180 $721 12% $129,830 $12,983 $22,071 $16,878 $814 $77,084 $207,360 24%
Year 4 180 $808 12% $145,410 $14,541 $24,720 $18,903 $912 $86,334 $293,694 26%
Tartaruga Bay, Inhambane, Mozambique Page 52
Year 5 180 $905 12% $162,859 $16,286 $27,686 $21,172 $1,021 $96,694 $390,389 30%
Year 6 180 $1,013 12% $182,402 $18,240 $31,008 $23,712 $1,144 $108,298 $498,686 33%
Year 7 180 $1,135 12% $204,291 $20,429 $34,729 $26,558 $1,281 $121,293 $619,980 37%
$839,922
One Twelfth Cabana Ownership
Average Rate pppn $230
Average Cabana Rate per night, pax
2.5$575
Ownership Investment Amount, avg $32,000
Days per year 30 Annual value based on daily rate $17,250 Monthly levies $54
10%
Occupation 50%
Available Rental Days after owner use
Rental Amount
Escalation per year
Rental Income
10% Travel Agency
fee
17% Govt levy
13% Rental Pool Admin
Fee Levies Owner's Income
Cumulative Owner's Income ROI
Year 1 15 $575 12% $8,625 $863 $1,466 $1,121 $649 $4,526 $4,526 14%
Year 2 15 $644 12% $9,660 $966 $1,642 $1,256 $727 $5,069 $9,595 16%
Year 3 15 $721 12% $10,819 $1,082 $1,839 $1,406 $814 $5,677 $15,273 18%
Year 4 15 $808 12% $12,118 $1,212 $2,060 $1,575 $912 $6,359 $21,631 20%
Year 5 15 $905 12% $13,572 $1,357 $2,307 $1,764 $1,021 $7,122 $28,753 22%
Year 6 15 $1,013 12% $15,200 $1,520 $2,584 $1,976 $1,144 $7,976 $36,729 25%
Year 7 15 $1,135 12% $17,024 $1,702 $2,894 $2,213 $1,281 $8,934 $45,663 28%
$69,994
Notes
1. It is important to keep in mind that only the managing agent employed by the developer may be used for renting out a unit since the Mozambican Government have to receive a levy on all rentals (17%) and monitor this closely. The developer will charge a further 13% rental agency administration fee or commission. Thus the rental pool will operate at a 30% commission that will be deducted off the rental income and the balance will be paid out to the owners or shareholders. In addition, a 10% tour operator's fee was included. This will only apply if the owner does not have a paying guest and the management company has to find one through a tour operator.
2. Although all possible effort will be made, resort management cannot guarantee that available time will be rented out to tourists.
Page 53 Tartaruga Bay, Inhambane, Mozambique
IS IT GOOD VALUE FOR MONEY?
Absolutely. Here we did some research on exclusive lodges comparable to Tartaruga Bay.
Take a look a look at this:
Vacation Value
Current Luxury Rates in
Mozambique
Resort Rate
pppns
Indigo Bay $610
Guludo Beach Lodge $395
Marlin Lodge $495
White Pearl Resort $369
Coral Lodge $425
Azura $475
Vamizi Island $560
Benguerra Lodge $570
Pemba Beach Hotel $380
Average $475
One-twelfth Ownership Annual Value
Villas
Adults 4 $1,902
Children @50% 4 $951
Total per day $2,853
Annual value per one-twelfth ownership $85,580
Cabanas
Adults 2 $951
Children @50% 2 $475
Total per day $1,426
Annual value per one-twelfth ownership $42,790
http://www.indigobayresort.com/
http://www.guludo.com/
http://www.marlinlodge.co.za/
http://www.whitepearlresorts.com/
http://www.newmarkhotels.com/hotels/coral-lodge-15-41/
http://azura-retreats.com/
http://www.vamizi.com/
http://www.benguerra.co.za/
http://www.pembabeachresort.com/
Tartaruga Bay, Inhambane, Mozambique Page 54
DO THE OWNERS OWN THE LAND?
No. Land tenure in Mozambique does not take the form of ownership, but of use rights. In Mozambique this is for 50 years renewable for a further 49 years.
Because of recent legislation and strict adherence to legal specifications, Tartaruga Bay ownership is perpetual
The Mozambique Government has also stated in a letter to the IMF that land tenure is currently under review.
This is done in order to allow owners to take bonds from banks on their properties for building homes. It is expected that rights holder will pay a small fee to become title holders - a huge future benefit for fractional owners.
IS MY MONEY SAFE?
Your money is protected in 6 ways:
Purchaser Amount Insurance
Your purchase amount is insured– so your investment is safe.
Get more information from Tjaart van der Walt at Indemnus (011) 391-2118 and also see the resources section on the web site
Your money is fully insured by Chartis, an international Insurance company which insures:
• 90 of the top 100 UK companies
• 85% of top Italian companies
• 80% of top Danish companies
• Was voted best insurer in South Africa in 2008
Insured Trust Account
The interest-bearing Trust Account at Kruger Moeletsi is insured according to South African Law.
Kruger Moeletsie have achieved various awards over the years for efficient trust fund management.
Mozambique Government Guarantees
In order to qualify as a fractional ownership estate the Mozambican Government requires various sureties to protect owners.
M O Z A M B I Q U E A R T I C L E DE C R E E 39/2007 A R T I C L E 9 IN S U R A N C E
The Article 9 Bond is a legal requirement in Mozambique that guarantees that
• The Project is finished on time
• Repayment of purchaser amount is possible upon developer withdrawal
M O Z A M B I Q U E A R T I C L E DE C R E E 39/2007 A R T I C L E 33 B O N D
Page 55 Tartaruga Bay, Inhambane, Mozambique
The Article 33 Reserve Fund is a legal requirement that ensures that your villa remains as luxurious as the first day you enjoyed it
M O Z A M B I Q U E A R T I C L E DE C R E E 39/2007 A R T I C L E 35
B O N D
The Article 35: Performance Bond ensures good management and maintenance of the project
The following insurances are in place:
More return on your money
CU R R E N T R E T U R N S
According to ABSA Bank, home value growth in 2012 will be 2.19%
The Current nominal fixed interest rate at FNB is 6.6% for an investment over 5 years
In contrast, the Mozambique leisure property at an estimated grows 15-19% per annum.
The result is that your share value may grow at least 3 times faster than keeping your money in traditional places.
IN V E S T I N A R A P I D L Y G R O W I N G E C O N OM Y
According to the International Monetary Fund, projected GDP growths are:
Gross domestic product, constant prices (Percent change) 2014 2015 2016 2017 2018 2019
Mozambique 8.34 7.90 7.67 7.93 7.83 7.80
South Africa 2.34 2.66 3.16 3.04 3.04 3.04
United States 2.77 2.95 3.03 2.91 2.59 2.22
United Kingdom 2.88 2.46 2.35 2.26 2.43 2.44
China 7.54 7.28 6.97 6.76 6.63 6.52
Germany 1.71 1.56 1.40 1.36 1.30 1.29
You are investing in one of the fastest growing economies in the world.
Rental Income
In addition to growing rapidly, your share will generate a passive income through normal income from renting out to holidaymakers when you do not use your occupation right yourself.
Tartaruga Bay, Inhambane, Mozambique Page 56
Protected Trust Fund
� Release of funds to the developer are controlled by 4 highly qualified, independent Trust Fund Managers:
o I. Lief 079 8992 176 o J. Hugo 083 2262 009 o J. Putter 082 3396 622 o H. Bosua 083 4250 408
� Payment is only approved: o In strict accordance with the Development Plan o When certified by the Project Manager o Supervised by Tartaruga Bay Investments attorneys o Certified by project professionals such as Quantity Surveyors and Architects o Overseen by the developer
WHAT ARE THE ROADS LIKE TO TARTARUGA BAY?
The new road to Inhambane is completed. Access to Tartaruga Bay does not require a 4x4 vehicle.
CAN I SEE THE LEGAL PROCESS FOR THE DEVELOPMENT?
All copies of the legal processes of the projects are available to the buyer in the Prospectus and on the web site. This information is accessible with password we will provide.
ARE THERE PLANS TO DEVELOP HOUSING SCHEMES/INDUSTRIAL SITES
NEARBY?
No. There may be tourism projects planned for the future that we do not know of, but industrial developments are not on the cards
HOW IS TARTARUGA BAY INVOLVED IN
THE LOCAL COMMUNITY?
Tartaruga Bay will establish various projects which will primarily support the core development project. These include a bakery, fresh produce, chickens, eggs and fishing. These projects will be managed by resort management to ensure smooth operation, planning and production.
The produce of subprojects will be primarily for project use. Produce not used by the project will be sold on the market.
DOES THE LOCAL COMMUNITY SUPPORT
THE PROJECT?
Yes, the community has been consulted, and they welcomed the project, all meetings held by the community and the developer has been attended and recorded by the Government departments.
Page 57 Tartaruga Bay, Inhambane, Mozambique
HOW CLOSE IS THE LOCAL COMMUNITY
TO THE PROJECT?
The local village is about 2-3 km from the project. Because the community is agricultural, the houses is far from each other.
DOES THE COMMUNITY HAVE ACCESS
TO THE RESORT?
According to law, the community will have controlled and limited access to the beach using a specific footpath only.
All Tartaruga Bay employees will wear the formal Tartaruga Bay uniform, which will allow them access to the property. Day visitors will be accompanied to the
Club house by Tartaruga Bay staff where they can visit for the day.
The resort have a number of coconut trees, some needs harvesting, when the time comes for harvesting, the previous beneficiaries of these trees will be able to harvest under the supervision of the security of Tartaruga Bay, they will also wear the formal Tartaruga Bay uniform.
HOW ARE SERVICES PLANNED?
Service networks are designed and managed to the highest standards.
3 Boreholes will supply the water which will be fed into reservoirs and then be relayed to the different areas in the resort. Boreholes will be tested to ensure that good quality of water goes to the villas.
Each villa will be fitted with an osmosis water purification system on one tap in the kitchen of the villa.
A backup generator will ensure electricity for essential items, at all times. Ceiling fans will work in case of power cuts, but air conditioners will not be able to operate during those times.
DOES TARTARUGA BAY HAVE INSURANCE
COVER?
All buildings and villa contents of the resort will be covered by Insurance. Individual insurance for items of personal nature, like cameras, will not be the responsibility of the
resort.
WHAT SECURITY MEASURES ARE PLANNED FOR TARTARUGA BAY?
The property will have guards on a 24hour basis in 3 shifts. In addition each villa will have a safe installed for valuables.
Tartaruga Bay, Inhambane, Mozambique Page 58
IS TARTARUGA BAY IN A MALARIA AREA?
Yes. Mozambique is a malaria area and malaria prophylaxis is highly recommended.
Do NOT believe the urban legend that you must not take prophylaxis
because the medication masks the symptoms and confuses your doctor.
ALWAYS TAKE YOUR PROPHALAXIS.
Tartaruga Bay will conduct its own spray programs and mosquito nets will be available on every bed.
Owners will still be responsible for their own mosquito repellants. No candles or mosquito coils will be allowed because of the fire hazard.
ARE THERE NEARBY MEDICAL FACILITIES?
There are doctors and a hospital available in Inhambane which is 15 kilometrs from Tartaruga Bay. We also have a helipad for emergency evacuations.
ARE THE BEACHES AT TARTARUGA BAY RESORT SAFE FOR SWIMMING?
Yes. There are no rip tides and there are natural pools in the coral.
CAN I LAUNCH MY BOAT AT THE RESORT?
Yes. We will provide a launching service for your fishing boat because no vehicles are allowed in the beach.
WILL THERE BE A PLACE OF SAFEKEEPING FOR MY BOAT OR KAYAK?
There are permanent storage facilities available for purchase. If you intend to leave equipment or vehicles in your storage area on a permanent basis, ensure that the import duties are paid.
WILL THERE BE A FACILITY WHERE I CAN WASH MY CAR OR BOAT?
Yes. The washing area is near permanent storage. We also provide a freezing facility for your catch.
WILL THERE BE A SCUBA DIVING FACILITY?
There will be an activity centre which will arrange for your scuba adventure.
IS THE PROJECT APPROVED BY THE MOZAMBICAN GOVERNMENT?
Yes. Developers who took short cuts with the legal process have had problems in the past. This is not the case with Tartaruga Bay. Full approval documentation is available on request.
IS FRACTIONAL OWNERSHIP FOR ME?
If you answer yes to any of the following questions, you are a candidate for Fractional Ownership.
• Are you interested in entering / investing in the property market? • Do you want to have a holiday every year at Mozambique's best beach in a luxury villa -
without paying for accommodation? • Do you want to own a second property / holiday home?
Page 59 Tartaruga Bay, Inhambane, Mozambique
• Are you interested in diversity of your investment portfolio? • Do you have cash available or equity in your existing bond? • Would you prefer more choice
and flexibility during your holiday?
• Are you interested in creating wealth through a leisure property?
• Do you want better returns on investment by lowering risk?
• Would you rather prefer someone else to manage your holiday home?
• Do you rather want to own your holiday home as opposed to rent it?
• Would you prefer a better lifestyle?
HOW MUCH DOES IT COST?
The price you see is what you pay – there are NO valuation fees, bonds costs, VAT etc. These costs could be as much as 15% of the purchase price.
Prices vary per share depending on whether it is 1) beachfront and sea-facing or 2) low, mid and high season.
A small share transfer fee will be required
WHAT ARE THE LEVIES?
Levies are payable with regards to security, services (housekeeping, gardening etc.) management and maintenance of the property.
HOW DOES PAYMENT WORK?
• A cash deposit of 10% upon signature of the Reservation Agreement to reserve your shares for 30 days.
• The remaining 90% within 30 days
Your share purchase amount is held in trust by Kruger Moeletsi, a highly respect legal firm in Nelspruit who have won numerous awards for trust fund management excellence in South Africa.
You earn interest on until construction starts.
Development funds are managed by 4 independent, highly respected Trust Fund Managers who guarantee that funds are used in complete accordance with the Development Plan.
WHERE WILL THE RENTAL INCOME
BE PAID?
Taxes and admin fees are paid in Mozambique and rental income and travel
Tartaruga Bay, Inhambane, Mozambique Page 60
agency fees are paid in South Africa
WHAT DO I GET?
You receive a share in a leisure property and appreciating asset, together with:
• The exclusive, perpetual right of use in accordance with the share/s purchased
• Access to and use of the club house and other communal property
• Comprehensive services and maintenance
• A property which increases in value more than the average residential property
• A real, unalienable right in the property
• A fully tradable right and share certificate
HOW DO I INVEST?
• Choose the Villa and week/s you prefer • Contact us at [email protected] or +27 (13) 712 5246 to see if it is available
• Sign a reservation agreement at the back of this document and pay a 10% reservation fee to reserve your share/s for 30 days
• Sign the formal Shareholders’ & Usage Agreement within 30 days
• Make payments as per the Sale of Shares Agreement.
• Receive your legal share title
Page 61 Tartaruga Bay, Inhambane, Mozambique
CONTACT DETAILS
Location Name Phone email
South Africa Neethling du Toit +27 (0) 833 784 465 [email protected]
Erica du Toit +27 (0) 834 411 689 [email protected]
Dave Edgcumbe +27 (0) 823 268 932 [email protected]
Petro Edgcumbe +27 (0) 82 5174308 [email protected]
Chris Hattingh +27 (0) 835 574 044 [email protected]
Hilda Hattingh +27 (0) 835 574 044 [email protected]
Mitch Mitchell +27 (0) 832 260 133 [email protected]
Thea Mitchell +27 (0) 845 153 373 [email protected]
Doret Putter +27 (0) 834 144 680 [email protected]
Gerrie Roets +27 (0) 833 182 394 [email protected]
Annalet Roets +27 (0) 836 120 245 [email protected]
Graeme Webb +27 (0) 836 270 200 [email protected]
Simone Webb +27 (0) 836 270 300 [email protected]
Daniel Webb +27 (0) 761 153 346 [email protected]
Michelle Webb +27 (0) 84 2063 417 [email protected]
South Africa Sales Office
Thea Mitchell
Doret Putter
+27 13-7125246
Fax 0866104466 [email protected]
Tartaruga Bay, Inhambane, Mozambique Page 62
VILLA AND CABANA CONTENTS
KITCHEN
CROC KER Y QTY
DINNER PLATE 27CM 12
SIDE PLATE 20CM 12
SOUP PLATE 12
CEREAL BOWL 12
MUGS 12
TEA CUP & SAUCER 12
TEA POT 1
SUGAR BOWL 1
MILK JUG 1
GLASSWAR E QTY
ZOMBIE GLASS 12
WHISKEY GLASS 12
WINE GLASS 12
GLASS JUG 1
ICE BUCKET 1
CUTL ER Y QTY
KNIFE 12
FORK 12
DESERT SPOON 12
TEASPOON 12
SUGAR SPOON 1
STEAK KNIFE 12
APPLIAN CES QTY
KETTLE 1
TOASTER 1
SNACKWICH MAKER 1
MICROWAVE DEFY DMO349 METT 1
F640 METT S/SIDE 1
REVERSE OSMOSIS 6 STAGE WATER PURIFIER 1
WATERWELL 12KG ICE MAKER 1
Page 63 Tartaruga Bay, Inhambane, Mozambique
DISHWASHER DEFY 3 PROG MATT 1
PRE PARA TION QTY
ICE TRAY 3
FRIDGE BOTTLE 1
CORKSCREW 1
STAINLESS STEEL HOOKS 1
STAINLESS STEEL SPOON LARGE 1
STAINLESS STEEL SLOTTED SPOON 1
STAINLESS STEEL MASHER 1
STAINLESS STEEL SLOTTED TURNER 1
STAINLESS STEEL SPAGHETTI SPOON 1
BREAD KNIFE 1
PARING KNIFE 1
CARVING KNIFE & FORK SET 1
WHISK 1
STAINLESS STEEL COLANDER 1
STAINLESS STEEL GRATER 1
POTATO PEELER 1
CUTTING BOARD 1
BUTTER DISH 1
CAN OPENER 1
SALAD SERVER SET 1
BRAAI TONGS 1
WOODEN SPOONS SET 3 1
STAINLESS STEEL BREAD BIN 1
CASSEROLE DISH SET 3 1
GLASS MIXING BOWL 1
COOKING QTY
CASSEROLE POTS SET OF 3 1
FRYING PAN INCL. ABOVE 1
STAINLESS STEEL ROASTER 1
LAUNDR Y QTY
SOFT BROOM 1
DUSTPAN & BRUSH SET 1
PLASTIC BUCKET 1
DISH CLOTHS PKT 10 5
KITCHEN BIN 1
SANITARY BIN (BATHROOMS) 4
CUTLERY TRAY 1
DISH RACK 1
Tartaruga Bay, Inhambane, Mozambique Page 64
TOILET BRUSH & HOLDER 4
COAT HANGERS 30
DEFY 5KG AUTODRY METT 1
TOP LOADER WASHING MACHINE DEFY LAUNDROMAID 1300 METT
1
MISCELLAN EOUS QTY
SALT 2
PEPPER 2
ASHTRAY 5
TRAY 3
KITC HEN FUR NITURE QTY
COUNTER STOOLS 4
ACCE SSOR IES QTY
DECORATIVE ITEMS (VASES, CLOCK, ETC) 1
BUIL T-IN A PPLIA NCE S
GAS HOB DEFY 4 BURNER 1
BUILT-IN OVEN GEMINI P/CHEF DEFY 1
Page 65 Tartaruga Bay, Inhambane, Mozambique
DINING ROOM QTY
8 SEATER TABLE 1
DINING ROOM CHAIRS 8
SERVER 1
ACCE SSOR IES QTY
WALL ART 1
DECORATIVE ITEMS (VASES, CLOCK, ETC) 5
Tartaruga Bay, Inhambane, Mozambique Page 66
LOUNGE QTY
THERESA CORNER UNIT 2.5 X 2.1M 1
CHAIR - DUCATI 2
COFFEE TABLE PALM BEACH 1
PLASMA CABINET - PALM BEACH 1
SERVER ARC 4209 CONSOLE - 1200 1
TABLE LAMPS 2
FLOOR RUG 1 1
ACCE SSOR IES QTY
WALL ART 1
SCATTER CUSHIONS 6
SOUND & VISION QTY
LG 42" (107CM) FULL HD LCD TV - MODEL: 42LF20
1
DVD SOUND SYSTEM 1
DSTV (SUPPLY & INSTALL) 1
Page 67 Tartaruga Bay, Inhambane, Mozambique
WIRELESS ROUTER 1
PA TIO FURN ITURE QTY
PATIO LOUNGE SUITE 1
PDR004 PADOVA 8 SEATER TABLE AND CHAIRS
1
SUN LOUNGERS - VENICE 2
GAS BRAAI 1
STORM BLINDS 10
METERS
Tartaruga Bay, Inhambane, Mozambique Page 68
MAIN BEDROOM QTY
BLINDS ON FOLDING SLIDING DOOR 2
CURTAIN TRACK & BRACKETS 1
KING SIZE 4 POSTER WOODEN BED 1
KING SIZE MATTRESS 1
BEDSIDE LAMPS 2
PEDESTALS 2
DRESSING TABLE & CHAIR 1
READING CHAIRS 2
SIDE TABLE FOR READING CHAIRS 1
OTTOMAN 1
BEDDING & SOF TWA RE QTY
MOSQUITO NET 2
FITTED SHEETS - KING SIZE 3
FLAT SHEETS 3
DUVET COVERS 3
STANDARD PILLOW CASES 16
MATTRESS PROTECTOR 2
PILLOWCASE PROTECTOR 6
DUVET INNER 2
PILLOWS 5
Page 69 Tartaruga Bay, Inhambane, Mozambique
SCATTER CUSHIONS 4
BED THROW 2
ACCE SSOR IES QTY
RUG 1
DAYBED ON DECK SOFT FURNISHING 4
WALL ART 3
BATHR OOM QTY
FRAMED MIRROR 2
TOWEL SETS ( BATH SHEET, SMALL HAND TOWEL, FACE TOWEL)
3
BATHMAT 3
Tartaruga Bay, Inhambane, Mozambique Page 70
BEDROOM 2 QTY
BLINDS ON FOLDING SLIDING DOOR 1
CURTAIN TRACK & BRACKETS 1
¾ - 4 POSTER BED 2
BEDSIDE LAMPS 1
¾ SIZE MATTRESS 2
PEDESTAL 1
DRESSING TABLE AND CHAIR 1
READING CHAIRS 2
SIDE TABLE FOR READING CHAIRS 1
OTTOMAN BED END 2
BEDDING AN D SOF TWA RE QTY
MOSQUITO NET 4
¾ FITTED SHEETS 6
FLAT SHEETS 6
DUVET COVERS 4 6
STANDARD PILLOW CASES 16
MATTRESS PROTECTORS 4
Page 71 Tartaruga Bay, Inhambane, Mozambique
DUVET INNERS 4
PILLOWS 8
SCATTER CUSHIONS 2
BED THROWS 4
ACCE SSOR IES QTY
RUG 1
WALL ART 2
BATHR OOM ACC ESSORIES QTY
FRAMED MIRROR 1
TOWEL SETS ( BATH SHEET, SMALL HAND TOWEL, FACE TOWEL)
3
BATHMAT 3
Tartaruga Bay, Inhambane, Mozambique Page 72
BEDROOM 3 (Villa only) QTY
BLINDS 2
CURTAIN TRACK & BRACKETS 1
KING SIZE 4 POSTER WOODEN BED 1
KING SIZE MATTRESS 1
PEDESTALS 2
BEDSIDE LAMPS 2
DRESSING TABLE & CHAIR 1
OTTOMAN 1
SIDE TABLE FOR READING CHAIRS 1
READING CHAIRS 2
BEDDING AN D SOF TWA RE QTY
MOSQUITO NET 2
FITTED SHEETS 4
FLAT SHEETS 4
DUVET COVERS 3/4 4
STANDARD PILLOW CASES 8
MATTRESS PROTECTORS 2
DUVET INNERS 3/4 2
Page 73 Tartaruga Bay, Inhambane, Mozambique
PILLOWS 4
BASE COVER 2
SCATTER CUSHIONS 2
BED THROWS 2
ACCE SSOR IES QTY
BEDSIDE LAMP 2
RUG 1
DAYBED ON DECK SOFT FURNISHING 4
WALL ART 1
BATHR OOM ACC ESSORIES QTY
FRAMED MIRROR 2
TOWEL SETS ( BATH SHEET, SMALL HAND TOWEL, FACE TOWEL)
3
BATHMAT 3
Tartaruga Bay, Inhambane, Mozambique Page 74
BEDROOM 4 (Villa only) QTY
BLINDS ON FOLDING SLIDING DOORS 1
CURTAIN TRACK & BRACKETS 1
¾ - 4 POSTER BEDS 2
¾ SIZE MATTRESS 2
DRESSING TABLE & CHAIR 1
SIDE TABLE FOR READING CHAIRS 1
READING CHAIRS 2
PEDESTAL 1
BEDSIDE LAMP 1
OTTOMAN 2
BEDDING AN D SOF TWA RE QTY
MOSQUITO NET 2
¾ FITTED SHEETS 4
FLAT SHEETS 4
DUVET COVERS 3/4 4
STANDARD PILLOW CASES 8
MATTRESS PROTECTORS 2
DUVET INNERS 3/4 2
PILLOWS 4
BASE COVER 2
SCATTER CUSHIONS 2
BED THROWS 2
Page 75 Tartaruga Bay, Inhambane, Mozambique
ACCE SSOR IES QTY
RUG 1
WALL ART 2
BATHR OOM ACC ESSORIES QTY
FRAMED MIRROR 1
TOWEL SETS ( BATH SHEET, SMALL HAND TOWEL, FACE TOWEL)
3
BATHMAT 3
Note: If depicted furniture/fittings are unavailable, suitable items of similar high quality will be substituted
Tartaruga Bay, Inhambane, Mozambique Page 76