Coral Development Group Completes Phase 1 Construction of its Newest Beachfront Community, Las Terrazas, on the Belizean Island of Ambergris Caye

San Pedro, Belize (PRWEB) November 18, 2007 -- Las Terrazas (http://www.lasterrazasbelize.com), a premier Belize real estate development on the island of Ambergris Caye, is pleased to announce the completion of phase 1 construction. The 4.8-acre island community of 78 residential condominiums and villas is located on the beaches of Ambergris Caye in Belize - one of the country's most sought-after locations. The first phase of construction was completed in October of this year and inaugurated on November 3rd by the Prime Minister of Belize together with other dignitaries, property owners, friends and family.

Phase 1 construction consisted of the completion of an unique double level pier and slips for 20 medium sized boats, the reception-concierge palapa, an expansion and reclamation of the beach area creating an unparalleled swimming beach on Ambergris Caye, an infinity exercise lap pool, the two-story spa and exercise building with sundeck, and 38 spacious residences including the Sea House Villas, Garden Villas, Lagoon Villas (sold out), and the Veranda and Penthouse condominiums. Upon completion of the upcoming second phase, Las Terrazas will encompass a variety of fully-furnished villas and condominiums, two very stylish contemporary swimming pools, a state-of-the-art fitness center with spa, a tropical juice bar, a unique curved pier, and boutique and gourmet shops featuring the best of the culinary foods from cheeses to wines and personal accessories.

The buildings at Las Terrazas feature excellent workmanship, high-quality materials and finishes, and meticulously appointed interiors all constructed under the watchful eyes of Coral Development Group. The Coral Development Group blends expertise in real estate development with marketing, management, architecture, construction and hospitality, and has been involved in a variety of luxury real estate projects in North America and the Caribbean for over three decades. Dealing with a reputable developer with a proven track record like that of Coral Development Group provides prospective owners and investors the peace of mind needed during the process of completing an international real estate transaction.

"We take great care in the pre-planning of our developments to ensure that it fits within both the context of the local environment and community and if we cannot accomplish this synergy then the project is not worth developing", said Luis Latorre of the Coral Development Group.

"Recent in-house marketing research revealed that units comparable to the Las Terrazas' three bedroom beachfront villas would cost $1.5 million, $2+ million, and $2+ million in the Bahamas, Dominican Republic, and Cancun, respectively. With the growing international appeal of Belize we feel our prices in the $700k's show the most potential for appreciation", said Chris Roberts, General Manager of Las Terrazas. Chris Roberts added, "We also plan to continue offering phase 1 pricing during the initial phase 2 construction. Because 50% of all the units have already sold, don't expect these prices to stay at these levels for much longer".

Prospective owners and investors can download detailed floor plans of all Las Terrazas Belize villas and condominiums online. Visitors to the newly enhanced web site, www.lasterrazasbelize.com, can request additional information, browse through photos on the current progress of construction, and read about the many advantages of owning a residence within Las Terrazas' community.

All properties feature spacious floor plans, with large terraces on the villas facing the beach. Each unit will have deluxe contemporary-styled interior decorations, cable and high-speed Internet access within the common areas of the pool and beach, and a fantastic property value appreciation and rental revenue potential backed by the proven track record of the Coral Development Group. Acquiring real estate in Belize is a solid investment as the country lacks both capital and inheritance taxes in a climate where the currency exchange rates continue to be very stable. Property appreciation in Belize has been steady for the past two decades and is now predicted to accelerate in the coming years.

Each villa has been handsomely appointed with stainless steel appliances, marble floors, and granite countertops stocked with dishes, glasses, linens and towels, and fully furnished including flat screen televisions and everything necessary for new owners to enjoy immediate occupancy. Las Terrazas also offers a renters' pool, meaning that temporary vacancies in the villas and condominiums can be placed in the pool to provide their owners with rental income. For this reason alone, Las Terrazas represents an excellent investment opportunity.

The development itself has been carefully designed to maintain a perfect balance between the unspoiled environment and a comfortable living style, as suggested in the development's slogan, "The Natural Way of Life." The island community borders the Caribbean on one side and an inland lagoon on the other, allowing residents to relax and enjoy the area's beauty and serenity. Many of the residential units command a prime beachfront location, and the largest barrier reef in the Northern Hemisphere features some of the best scuba diving in the world - all just a short boat ride from Las Terrazas' white-sand beaches. This natural paradise is also only 4.5 miles from the town of San Pedro (Las Isla Bonita), offering easy access to the distinctive and colorful Ambergris Caye destination.

For more information on Las Terrazas and / or how you can gain ownership within this exclusive luxury beachfront community please contact us at 1-800-399-6768 or go to our website and send us a web inquiry.

About Las Terrazas Villas and Condominiums:

Las Terrazas (http://www.lasterrazasbelize.com) is a forthcoming island community of 78 fully furnished Belize villas and condominiums on 4.8 acres of private beachfront on the island of Ambergris Caye, Belize. Each residential unit will be handsomely appointed with stainless steel appliances and granite countertops stocked with dishes, glasses, linens and towels, and fully furnished including flat panel televisions and everything necessary for new owners to enjoy immediate occupancy. A renters' pool will also be available. Ambergris Caye is Belize's largest island and know for the phrase, "no shirt, no shoes, no problem." Residents of Las Terrazas will enjoy laid-back island living and the convenience of reaching Ambergris Caye from Belize City by a short flight or numerous high-speed sea ferries.

About Coral Development Group:

Coral Development Group (http://www.coraldevgroup.com) combines expertise in real estate development, marketing, management, architecture, construction and hospitality. The Coral Development Group has been involved in a variety of luxury real estate projects and holdings in North America and the Caribbean for three decades. In addition, Coral Development anticipates the future to be a continuation of delivering impeccable projects that meet the highest quality standards in Belize, the Caribbean and Internationally.

Contact:

Jill Thompsen

Tel: 1-800-399-6768

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