Good afternoon Cayo Grande Island, S.A Unitholders.
We hope that this email finds you well during these “interesting” times that we find ourselves in.
COVID has wreaked havoc on the world, on the economy and on people’s health. The entire global economy came to a standstill and the stock market took a major hit.
Most of our clients have been preparing for the next “correction” for some time, they just didn’t expect it to be triggered by a virus!
So, they have been building a portfolio of uncorrelated hard assets that can weather such a storm.
Just as you did when you invested in Cayo Grande Island, S.A.
In our last update in January of this year, we were proud to announce that we had received Provisional Approval for the titling of the island.
And, not only did we receive approval to title the island as a whole, in fact we have approval for a complete 130-lot subdivision, to be subdivided and separately titled.
The provisionally approved plan is complete with roads, open spaces, canals and natural barriers.
This was an exciting result as it gives us a much more valuable asset to take to market.
As the Provisional Approval came with no contingencies to be removed, it was just a process of getting the surveyor’s in to complete the survey.
Then proceed to Mapping, Mutation of Title and then Final Approval. (Read the full breakdown of the process from our last update here)
The surveyors were due to arrive in April but were delayed due to COVID.
Now we are happy to announce that the surveyors are on Ambergris Caye as we speak and will begin work this week. They estimate the entire pinning of all 130-lots to take about 45 days.
The global shutdown due to COVID had a big impact on Belize and 70% of the population who rely on tourism for a living.
So, you will be glad to know that Cayo Grande Island, S.A teamed up with RE/MAX Belize and donated $5,000 to their food drive, to help those worst affected in our community. Spearheaded by our donation, and supported by the donations of others, we were able to collectively donate over 10 tons of food staples to the local Belizean people in Ambergris Caye, during the midst of this crisis.
This helped them to provide food and badly needed supplies to our neighbors on Ambergris Caye.
RE/MAX Belize Regional Owner, Will Mitchel, sent us a quick video to say a special thank you to you!
COVID has had a dramatic effect on the global economy and many investors took a big hit.
Thankfully your shrewd investment in Cayo Grande Island, S.A meant that your asset held its value.
While many investors and business owners are losing everything they have, all we lost was a little time.
Now we are back up and running and we will keep you posted with videos and photos of the surveying process.
Stay safe and stay healthy.